In 2013, the global clear
brine 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.
Browse full research report on 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: 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
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.
For more information: www.grandviewresearch.com
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