12-Apr-2022 | Facts and Factors
According to Facts & Factors, the Global Clear Brine Fluids Market was worth around USD 1,721.7 million in 2021 and is estimated to grow to about USD 2,428.4 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9% over the forecast period. The report analyzes the Clear Brine Fluids Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Clear Brine Fluids Market.
Clear brine fluids are salt solutions that are utilized as drilling and well completion fluids in the oil and gas sector. It is an aqueous solution with no solids and is based on chloride, bromide, and formate salts. It is commonly utilized in drilling, shale gas, oil, and deep water activities. These fluids are available in a variety of densities on the market. It is widely utilized in oilfield applications as a completion, drill-in, workover, and packer fluid.
Browse the full “Clear Brine Fluids Market By Product Type (Calcium Chloride, Sodium Chloride, Zinc Calcium bromides, Cesium Formate, Potassium Chloride, and Other Product Types), By Application (Oil and Gas Exploration, and Enhanced Oil Recovery), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028” report at https://www.fnfresearch.com/clear-brine-fluids-market
The key driver of the usage of clear brine fluids during the predicted period is an increase in global demand for crude oil and natural gas. In addition, the increased production of shale gas has benefitted the worldwide clear brine fluids market, and the increased focus on other unconventional natural gases is projected to provide new opportunities throughout the forecast period. During the projection period, the new onshore and offshore well building is likely to stimulate demand for clear brine fluids.
Moreover, the utilization of clear brine fluids is required for decreased operating costs and greater oilfield production, which is expected to drive the growth of the market in the coming years. Clear brine fluids are utilized for drilling, well completion, and workover fluids, these aspects drive clear brine fluids market expansion, hence growing clear brine fluids market size. Countries transition to renewable energy generation, demand for oilfield chemicals is projected to be a restraint for the worldwide clear brine fluids market during the forecast period.
The Clear Brine Fluids Market is segregated based on Product Type, and Application. Based on Product Type, the global market is distinguished into Calcium Chloride, Sodium Chloride, Zinc Calcium bromides, Cesium Formate, Potassium Chloride, and Other Product Types. Based on Application, the global market is distinguished into Oil and Gas Exploration, and Enhanced Oil Recovery.
The Middle East and Africa would dominate the clear brine fluids market over the projected period, owing to an increased emphasis on the development of shale gas and coal bed methane, as well as an increase in the prevalence of clear brine fluids due to their efficient performance in this region. Additionally, the region is the world's greatest producer of crude oil, with countries such as Saudi Arabia, the United Arab Emirates, Iraq, and Iran leading the way. Moreover, Qatar is the world's fourth-largest gas producer and has the third-largest gas reserves, which will drive the regional market. With prices stabilizing and exploration and drilling activity restarting, this region's clear brine fluids market is likely to dominate the global industry.
The Asia-Pacific region is predicted to grow at a rapid pace in the clear brine fluids market, owing to an increase in the emphasis on shale gas and coal bed methane exploration, as well as an increase in the prevalence of clear brine fluids due to their effective performance in this region. During the projected period, new oil and gas discoveries in countries such as India, China, Vietnam, Indonesia, and Thailand would increase the demand for drilling and completion fluids.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 1,721.7 Million |
Projected Market Size in 2028 |
USD 2,428.4 Million |
CAGR Growth Rate |
5.9% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Albemarle Corporation, Baker Hughes Company, Cabot Corporation, Clements Fluids, EMEC, Halliburton, ICL, LANXESS, Schlumberger Limited, TETRA Technologies Inc., and Others |
Key Segment |
By Product Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Key players functioning in the Clear Brine Fluids Market include Albemarle Corporation, Baker Hughes Company, Cabot Corporation, Clements Fluids, EMEC, Halliburton, ICL, LANXESS, Schlumberger Limited, TETRA Technologies Inc.
Recent developments:
- In 2019, Baker Hughes, a GE firm, announced the launch of its DELTA-TEQ low-pressure-impact drilling fluid, a non-aqueous formulation that lowers hydraulic impact through the use of specific clay and polymers.
Global Clear Brine Fluids Market is segmented as follows:
By Product Type
- Calcium Chloride
- Sodium Chloride
- Zinc Calcium bromides
- Cesium Formate
- Potassium Chloride
- Other Product Types
By Application
- Oil and Gas Exploration
- Enhanced Oil Recovery
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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