Product Code: CMI334
The Drilling Chemicals market is estimated to be valued at USD 14,140.5 Mn in 2024 and is expected to reach USD 20,844.4 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.7 % from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 14,140.5 Mn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
5.70% |
2031 Value Projection: |
US$ 20,844.4 Mn |
Figure. Drilling Chemicals Market Value Share (%), By Region, 2024
Drilling chemicals are also called drilling muds which are heavy, viscous fluid mixture that is used in oil and gas drilling operations to carry rock cuttings to the surface and also to lubricate and cool the drill bit. Drilling chemicals find application in simpler bore holes such as water wells and metal and mineral extraction. Depending on the application, drilling chemicals are classified into onshore and offshore chemicals. Therefore, increasing demand for drilling chemicals is expected to boost the drilling chemicals market growth over the forecast period.
Market Dynamics
Among applications, the onshore drilling segment is expected to witness a significant market share in the global drilling chemicals market. In 2021, the segment accounted for around 70.0% share of the global drilling chemicals market in terms of revenue. The onshore oil and natural gas industry continue to evolve, developing best practices and improving well designs. This evolution resulted in reduced drilling and completion times, lower total well costs, and increased well performance.
Asia Pacific is expected to emerge as one of the potential areas for investment by the end of 2031. This is owing to the significant growth of the oil and gas industry in India and China. According to India Brand Equity Foundation, the oil and natural gas industry in India is expected to attract US$ 25 billion investment in exploration and production projects by 2022.
Key features of the study:
- This report provides in-depth analysis of drilling chemicals market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR%) for the forecast period (2024 - 2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
- It profiles key players in the global drilling chemicals market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Anchor Drilling Fluids Inc., MB Holding Company LLC, Tetra Technologies Inc., International Drilling Fluids and Engineering Services (Idec) Ltd., Canadian Energy Services Inc., Weatherford International Ltd., Global Fluids & Chemical Co., Baker Hughes, Newpark Drilling Fluids LLC., Diamoco Group, M-I SWACO, Schlumberger, Oren Hydrocarbons, and Halliburton
- Insights from this report would allow marketers and the management authorities of the companies to make an informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
- The global drilling chemicals market report caters to various stakeholders in this industry including investors, suppliers, drilling chemicals manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the drilling chemicals market
Detailed Segmentation:
- By Chemicals:
- Dispersants & Deflocculants
- Clean Up Chemicals
- Shale Stabilizers
- Drilling Mud Defoamers and Foaming Agents
- Drilling Mud Lubricants
- Drilling Mud Surfactants
- Spotting Fluids
- Fluid Loss Control Additives
- Loss Circulation Material
- Emulsifiers for Water-based and Oil-based Systems
- Drilling Polymers
- Weight Materials
- Corrosion Inhibitor
- Scavengers & Biocides
- Viscosifiers
- Adhesives & Sealants
- Commercial Chemicals
- By Fluid Type:
- Oil-based Fluids
- Water-based Fluids
- Synthetic-based Drilling Fluids
- Pneumatic Drilling fluids
- By Application:
- Onshore Drilling
- Offshore Drilling
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- Anchor Drilling Fluids Inc.
- MB Holding Company LLC
- Tetra Technologies Inc.
- International Drilling Fluids and Engineering Services (Idec) Ltd.
- Canadian Energy Services Inc.
- Weatherford International Ltd.
- Global Fluids & Chemical Co.
- Baker Hughes
- Newpark Drilling Fluids LLC
- Diamoco Group
- M-I SWACO
- Schlumberger
- Oren Hydrocarbons
- Halliburton
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Fluid Type
- Market Snapshot, By Chemicals
- Market Snapshot, By End User
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Porter's Analysis
- Industry Trends
- Key Highlights
- Epidemiology
- Reimbursement Scenario
- Regulatory Scenario
- Product Launches and Approvals
- Acquisition and Collaboration Scenario
4. Global Drilling Chemicals Market - Impact of Coronavirus (COVID-19) Pandemic
- Overall Impact
- Government Initiatives
- COVID-19 impact on the market
5. Global Drilling Chemicals Market, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Oil-based Fluids
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Water-based Fluids
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Synthetic-based Drilling Fluids
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
6. Global Drilling Chemicals Market, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Dispersants & Deflocculants
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Clean Up Chemicals
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Shale Stabilizers
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Drilling Mud Defoamers and Foaming Agents
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Drilling Mud Lubricants
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Drilling Mud Surfactants
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Spotting Fluids
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Fluid Loss Control Additives
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Loss Circulation Material
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
7. Global Drilling Chemicals Market, By End User, 2019 - 2031, (USD Mn & KT)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Onshore
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
- Offshore
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn & KT)
8. Global Drilling Chemicals Market, By Region, 2019 - 2031, (USD Mn & KT)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
- Regional Trends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Mn & KT)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Mn & KT)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Mn & KT)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Mn & KT)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Fluid Type, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Chemicals, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Mn & KT)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Mn & KT)
- GCC countries
- Israel
- Rest of Middle East & Africa
9. Competitive Landscape
- Company Profiles
- Baker Hughes Company
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Halliburton
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Schlumberger Limited
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Weatherford
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Diamoco Group
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Royal Dutch Shell Plc
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Solvay S.A.
- The Egyptian Mud Engineering & Chemicals Company
- Kemira Oyj
- BASF SE
- Clariant
- ChampionX
- Lubrizol Corporation
- Stepan Company
- Nouryon
- Albermarle Corporation
- Pure Chemicals Co.
- Ennor Muds & Chemicals
- Core Drilling Chemicals
- S.R. Chemical
10. Analyst View
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. References and Research Methodology
- References
- Research Methodology
- About Us and Sales Contact