SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Drilling and Completion Fluids - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
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Access to our digital archives and MarketGlass Research Platform
Complimentary updates for one year
Edition: 7; Released: January 2022
Executive Pool: 1366
Companies: 44 - Players covered include Baker Hughes, a GE company; CES Energy Solutions Corp.; Global Drilling Fluids & Chemicals Limited (GDFCL); Halliburton; National Oilwell Varco, Inc.; Newpark Resources, Inc.; Q'Max Solutions Inc.; Sagemines; Schlumberger Ltd.; Scomi Group Bhd; Secure Energy Services Inc.; Tetra Technologies, Inc.; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Onshore, Offshore); Fluid System (Water-Based, Oil-Based, Synthetic-Based, Other Fluid Systems)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Drilling and Completion Fluids Market to Reach $12.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Drilling and Completion Fluids estimated at US$9.9 Billion, is projected to reach a revised size of US$12.9 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Water-Based, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$7.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Oil-Based segment is readjusted to a revised 3.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.1 Billion in 2021, While China is Forecast to Reach $2.3 Billion by 2026
The Drilling and Completion Fluids market in the U.S. is estimated at US$3.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2026 trailing a CAGR of 4.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
Synthetic-Based Segment to Reach US$2.1 Billion by the year 2026
In the global Synthetic-Based segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.