Global Drilling Fluids Market Report 2020-2027 with Focus on Key Players - Baker Hughes, Halliburton, Imdex, National Oilwell Varco, Newpark Resources, Schlumberger, & Weatherford International

By Benzinga7 days ago

AD

Dublin, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The “Drilling Fluids - Global Market Trajectory & Analytics“ report has been added to ResearchAndMarkets.com's offering.

Global Drilling Fluids Market to Reach $9.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Drilling Fluids estimated at US$8.2 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2027, growing at a CAGR of 2.3% over the analysis period 2020-2027.

Oil based Fluids, one of the segments analyzed in the report, is projected to record a 2.1% CAGR and reach US$2.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Water based fluids segment is readjusted to a revised 2.7% CAGR for the next 7-year period.

The U. S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 4.3% CAGR

The Drilling Fluids market in the U. S. is estimated at US$2.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2027 trailing a CAGR of 4.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.5% and 1.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1% CAGR.

Synthetic based Fluids Segment to Record 1.9% CAGR

In the global Synthetic based Fluids segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market ...

Full story available on Benzinga.com

Continue read on benzinga.com