Asia-Pacific Drilling & Completion Fluid Market is to Reach $2,223.5 Million by 2019

Date: 2015-07-23

“Drilling and completion fluids are among the most essential requirements for any drilling activity, whether carried out in onshore or offshore areas. Drilling and completion fluids serve many purposes in drilling activities; the fluids facilitate the drilling process by suspending cuttings, controlling pressure, stabilizing exposed rock, providing buoyancy, and cooling and lubricating. The Asia-Pacific drilling & completion fluid market, by application is estimated to grow at a CAGR of 4.7% from 2014 to 2019 to reach $2,223.5 million by 2019. Even though China holds the largest share in the Asia-Pacific drilling and completion fluid market, the Indonesian segment is expected to grow at the fastest CAGR of 5.7% during the forecast period of 2014 to 2019.  The water-based fluid segment holds the largest market share in the Asia-Pacific region, among the fluid types (on the basis of the base fluid used).

In this report, the Asia-Pacific drilling & completion fluid market has been broadly classified in terms of based fluid, application, and geography. In 2013, the Asia-Pacific market was dominated by M-I SWACO (a part of Schlumberger Ltd.), Halliburton Co., Baker Hughes Inc., NewPark Resources, and Tetra Technologies Inc., among others. M-I SWACO is the leading provider of technology, integrated project management, and drilling & completion fluids in the Asia-Pacific market. It has strong presence in the water-based, oil-based, and synthetic-based segments of the market. The competitive strategies of the company include acquisitions, joint ventures, and investments in research & development. 

Besides M-I SWACO, Halliburton is another major player in the Asia-Pacific drilling and completion fluid market. Over the past 3 years, the company has emphasized on acquisitions and new product and technology launches to gain a competitive advantage in the market. Halliburton also invests in research & development through various contracts and joint ventures with universities and research institutions. The company owns four major brands Pinnacle, Landmark, MultiChem, and Sperry Drilling. The company has significant presence across 80 countries. The company segments its geo markets based on reservoirs, geology, geophysics, and operational/technical challenges. This segmentation helps the company to focus better as per the needs of the geo market. 

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