DALLAS--(EON: Enhanced Online News)--The report "Drilling Fluids (Drilling Mud) Market & Completion Fluids Market: by Types (Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, Other Based Systems), Application Areas (Onshore & Offshore), & Geography - Global trends & forecast to 2018" by MarketsandMarkets, defines & segments the global Drilling Fluids & Completion Fluids Market with analysis & forecast of the revenue. The drilling fluids & completion fluids market will grow from an estimated $10.6 billion in 2013 to $15.2 billion by 2018, with a CAGR of 7.5% from 2013 to 2018.
“Drilling Fluids (Drilling Mud) Market & Completion Fluids Market”
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Completion Fluids Market"
North America holds the largest market for Drilling fluids & Completion Fluids due to the presence of half of the world’s oil & gas reserves. The offshore activities in the Gulf of Mexico are on the rise which supports the companies to expand within the region due to which the top drilling & completion fluids manufacturers are based in North America.
Water-based systems are the single largest Drilling & Completion fluids base used across the globe & are suitable for all the application areas including onshore & offshore. Research activities have resulted in the finding of a new type of water-based fluids which can be used in challenging high pressure high temperature deep & ultra deep water drilling activities. The discharge policies for water-based fluids are also not very stringent across the world due to the presence of less toxic chemicals. These points including reasonable price, less toxicity, & easy availability make water-based fluids a preferred option over other types of non-aqueous drilling & completion fluids.
Huge investments have been made & extensive research has been carried out in order to develop non-toxic bio degradable drilling & completion fluids. The Drilling Fluids & completion fluids designed using nanotechnology removes toxic metals like mercury, cadmium, lead & also provide better thermal conductivity & have high heat transfer efficiency.
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