Drilling
chemicals are used in metal and mineral extraction, oil and gas exploration,
coal seam gas drilling, and for borewell drilling. Drilling chemicals can be
broadly classified into offshore and onshore chemicals depending on the
applications of these chemicals. The main functions of these chemicals include
maintaining the pressure, cooling and lubrication of the drilling equipment,
removing cuttings from bore wells, and to support and stabilize the borewell
area.
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Consumption of
drilling chemicals is primarily driven by the expenditure in energy and mineral
exploration. The global market for drilling chemicals is witnessing significant
growth in the past few years. Increasing demand for base metals, precious
metals, oil, and natural gas is driving the growth of the drilling chemicals’
market. This is largely driven by urbanization and industrialization in
developing countries.
Government bodies
are involved in product development life cycle to minimize health and
environment hazards. Companies producing ‘zero-waste’ chemicals are gaining
competitive advantage.
Some of the
leading participants in the industry are Global Fluids & Chemical Co.,
United Mud Chem, Academichem (Beijing) Co. Ltd., Baker Hughes, Halliburton,
Newpark Drilling Fluids LLC, Champion Technologies, and M-I SWACO.
This research
report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
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