San Francisco, 21
November 2018: In 2013, the global clearbrine fluids market was worth USD 926.7 million. As of May
2013, the count for global rig was noted to be around 3,400. This increase in
drilling activities has driven the demand for global rig count which has also
contributed to fuel the growth of clear brine fluids market across the globe.
Move towards the growth of alternative
energy resources such as CBM, tight gas, and shale gas mainly in China and the
U.S. is anticipated to drive the growth of the global market. The Golden
Triangle denotes oil & gas reserves of deep water wrapping offshore Brazil,
offshore West Africa and the U.S. Gulf of Mexico (USGOM). Moreover, increased
investment for deep water investigation mainly in the region is also projected
to increase the demand for global clear brine fluids market. Egypt, Gulf of
Mexico, the U.S., China, and Russia experienced increased drilling activities
on account of rising demand for energy which is likely to drive the market.
Potassium chloride consumption accounted
for over 20% of the global market in 2013. This was the largest product segment
in the same year and is also anticipated to have the highest growth rate of
over 10% from 2014 to 2020. Potassium chloride is most widely used for
servicing wells in oil & gas industry. Wide applications range of all the
bromides and chloride are expected to drive the global market. These are
favored above conventional drilling muds on account of their effectiveness and
cost efficiency. Primary applications of potassium chloride and bromide fluids
take account of deep water wells, high & deep pressure oil sands and oil
wells where general drilling muds are susceptible to block the foundations.
North America accounted
for over 60% of the global clear brine fluids market in 2013. Shale gas
flourishing in the U.S. is projected to provide the region with an upper hand
over the forecast period. Asia Pacific market is anticipated to experience
highest growth rate in production capabilities of over 10% from 2014 to 2020.
Growing exploration activities in India along with the thriving oil & gas
segment is projected to further boost the growth of clear brine fluids market
in the region.
The global clear brine fluids market is
amalgamated with four companies leading the market with over 50% market share
and is characterized by a high threat of new entrants. Major industry
participants include TETRA Technologies, M-I SWACO, Israel Chemicals Ltd.,
Halliburton, Albemarle Corporation and Great Lake Solutions. These companies
are taking steps to gain a competitive advantage and to increase their product
line.
Access Research Report
of Clear Brine Fluids
Market@ www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
Further key findings from the study suggest:
· Global clear brine fluids market demand was
1,010.2 kilo tons in 2013 and is expected to reach 1,977.5 kilo tons by 2020,
growing at a CAGR of 10.1% from 2014 to 2020.
· North America emerged as the leading
regional market for clear brine fluids and accounted for 64.9% of total market
volume in 2013. Increasing drilling activities in the U.S. on account of shale
gas boom and in Gulf of Mexico remained a key driving factor for the regional
market.
· Asia Pacific is expected to witness the
highest growth at 11% over the next six years. Increasing drilling
activities in China on account of presence of large amount of untapped shale
gas in place is expected to remain a key driving factor for the regional
market. European clear brine fluids market is expected to reach USD 162.3
million by 2020, growing at a CAGR of 12% from 2014 to 2020.
· Global clear brine fluids market is
moderately concentrated with top four companies including M-I SWACO,
Halliburton, Israel Chemicals Ltd., TETRA Technologies accounted for over 50%
of the total market. Other market participants include Albemarle Corporation,
Baker Hughes Inc., Zirax Ltd., The Egyptian Mud Engineering & Chemicals
Co., GEO Drilling Fluids Inc., Newpark Resources Inc. and Chemtura Corporation.
Clear brine fluids market recently, witnessed number of mergers and
acquisitions leading to significant opportunities for market participants.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the clear
brine fluids market on the basis of product and region:
Global Clear Brine Fluids Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
Potassium Chloride
·
Calcium Chloride
·
Sodium Chloride
·
Potassium Bromide
·
Calcium Bromide
·
Sodium Bromide
·
Others
Global Clear Brine Fluids Regional Outlook
(Volume Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Press Release of
Clear Brine Fluids Market@ www.grandviewresearch.com/press-release/global-clear-brine-fluids-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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