Middle East Drilling and Completion Fluids Market by Type (Water Based, Synthetic Based, Oil Based & others), By Application (Onshore & Offshore), By Countries - Regional Trend & Forecast to 2019
The Middle East drilling and completion fluids market is estimated to grow at a CAGR of 5.2% from 2014 to 2019. In the Middle East region, Oman is expected to grow at the highest CAGR of 5.7% during the forecast period. The growth of the drilling and completion fluids market is driven by factors such as increasing drilling footage, increased oil & gas production, continuous rise in global drilling activities, technological developments, and exploration activities for shale gas. However, factors such as environmental impact of drilling fluids & surrounding eco-systems and strict government regulations are some of the restraints of the market. Moreover, development of advanced drilling fluid chemicals is an opportunity for the major players in the Middle East region.
In this report, the Middle East drilling and completion fluids market has been broadly classified by base fluids type, such as water-based fluids, oil-based fluids, synthetic-based fluids, and others. Consumption of water-based fluids will be highest compared to other types of fluids. The consumption of water-based fluids is continuously increasing due to advanced comparable performance & environment-friendly properties of water-based drilling and completion fluids. Countries such as Oman and Saudi Arabia conduct a large number of drilling and exploration activities owing to high energy demand, which is supported by their huge oil & gas reserves.
Geographically, Oman and Saudi Arabia accounted for the largest share in the drilling and completion fluids market in 2014. Factors such as availability of oil & gas, increase in demand for completion fluids, and technological advancements are the growth drivers for the country.
The Middle East drilling and completion fluids market is competitive with the presence of a number of market players with niche technologies. As of 2014, this market was estimated to be dominated by Schlumberger (U.S.), Baker Hughes (U.S.) & Weatherford (Ireland). New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the Middle East drilling and completion fluids market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis, market share analysis of top players, demand & supply side analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the drilling and completion fluids market, high-growth regions and countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, will help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on drilling and completion fluids market offered by the top players
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the drilling and completion fluids market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes various drilling and completion fluids market across geographies.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the drilling and completion fluids market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players of the Middle East the drilling and completion fluids market.
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