Drilling Chemicals Market

DRILLING CHEMICALS MARKET - Global
Industry Insights, Trends, Outlook, and Opportunity
Analysis, 2016–2024
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REPORT DESCRIPTION
Drilling Chemicals Market Overview
Drilling chemicals are majorly used in processes such as oil & gas exploration, metal & mineral extraction, coal
seam gas drilling, and for bore well drilling. Drilling chemicals are useful in terms of cooling and lubrication of
the drilling equipment, maintaining the pressure, removing cuttings from bore wells, and providing support and
stabilizing the bore well area. Drilling chemicals are widely used to aid drilling boreholes into the earth’s crust.
The rising number of deep water discoveries, especially in the Pacific regions as well as the Persian Gulf is
expected to surge growth of the market.
Increasing usage of drilling chemicals is majorly attributed to major investments in energy & mineral exploration.
Increasing demand for base metals, precious metals, oil, and natural gas is in turn resulting into rapid growth of
the global drilling chemicals market in the recent past. This is primarily the resultant of rising rate of urbanization
and industrialization in emerging economies. Growing concerns for spill containment, holding solid wastes and
bore holes is also expected to augment growth of the market over the forecast period (2016–2024). Also, factors
such as increasing offshore drilling activities across various regions, shale boom in few regions, and increasing
exploration activities to discover untapped oil & gas reserves are also expected to be potential drivers of the
market.
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REPORT DESCRIPTION
Drilling Chemicals Market Taxonomy
By Product Type
Global market can be segmented on the basis of type of drilling chemicals into the following:

Potassium Chloride

Bentonite

Barite
By Application
On the basis of application, the global market can be segmented into:

Offshore Drilling

Onshore Drilling
Onshore drilling is considered as the largest application which has a direct impact on the growth of the drilling
chemicals market.
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REPORT DESCRIPTION
Drilling Chemicals Market Outlook- Asia Pacific is expected to be the
Most Lucrative Region for the Key Players
Regional segmentation for the global drilling chemicals market includes North America, Europe, Asia Pacific,
Latin America, Middle East, and Africa. North America holds a dominant position in the global drilling chemicals
industry, owing to increasing oil and natural gas production in the region along with potential developments in
oilfield in countries such as U.S. and Canada. Asia Pacific is expected to be the fastest growing market, owing to
the increasing demand for drilling chemicals in countries such as China and India. According to data released by
the Department of Industrial Policy and Promotion (DIPP), the petroleum and natural gas sector in India attracted
FDI valued at US$ 6.8 billion between April 2000 and December 2016. Demand for drilling chemicals in certain
countries such as UK and Netherland are significantly high owing to new oilfield exploration activities.
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Drilling chemicals are widely used to aid drilling boreholes into the earth’s crust. The rising number of deep water discoveries, especially in the Pacific regions as well as the Persian Gulf is expected to surge growth of the market.

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