Oilfield Drilling Fluid Additives Market

Date: 2016-05

Oilfield drilling fluids are used in a very extensive manner in the oil and field industry and have proven to be a very crucial part of the oil drilling process. Drilling fluids are a key requirement in the vast majority of drilling operations. The main functions performed by drilling fluids are to: provide a barrier for well control; remove cuttings from the well bore as they are produced; maintain drill cuttings in suspension when drilling circulation is stopped; transmit hydraulic power to the drilling bit; maintain formation stability; maintain pressure on the formation; control fluid loss through filtration; cool and lubricate the drill bit and string; and facilitate data logging—drilling fluids characteristics need to be controlled so that logging instruments can accurately provide information about the well and formations being drilled.
Oilfield Drilling Fluid additives are chemical formulations which are used for multiple functions in oil processing. The additive technologies excel with emulsification and thinning/dispersion of oil-based muds. They help to create proper fluid weighting to balance pressure formation and optimize fluid flow. Other functions include maintaining strong boundary lubrication films in silicate-based mud systems specialized for shale drilling, which is done by lubricating agents. Among the other functions are wettability, detergency, dispersancy, and clay stabilization. Selection of drilling fluid additives requires careful consideration of several criteria, such as; well design, rock composition, potential formation pressures and temperatures, reservoir chemistry, protection of the producing zone, and environmental regulations.

Growth in the industry is not uniform across the regions as; developed regions like Europe and North America are estimated to exhibit sluggish growth compared to other parts of the world. On the contrary, APAC and the Middle East are poised to exhibit faster growth due to the favourable macroeconomic factors and strong demand for oil. China, Saudi Arabia, UAE and Russia are the growth frontiers for the oilfield drilling fluid additives manufacturers, providing a huge market to be tapped.
The oilfield drilling fluid additives market is highly competitive due to the dominance of regional players. The key players in the market are AkzoNobel, BASF, Chevron Philips Chemical Company, Lubrizol and The Dow Chemical Company constituting a major share. These companies are adopting various growth strategies such as new product launches, expansions, partnerships and acquisitions to consolidate their market share. The companies are investing in R&D extensively to develop technically advanced unique products to differentiate from competitors and increase their market share.

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