Fluid Loss Additives Market: In-depth Analysis, Demand Statistics & Competitive Outlook 2023-2028
Stratview Research has recently published a report on the Fluid Loss Additives Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2023 to 2028.
Fluid Loss Additives Market Insights:
The fluid loss additives market was estimated at USD 343.29 million in 2022 and is likely to grow at a CAGR of 3.59% during 2023-2028 to reach USD 425.67 million in 2028.
What is a fluid loss additive?
Fluid loss additive is one of the major components in oilfield operations. It is a polymer that is developed to drastically reduce fluid loss during oilfield cementing operations.
Fluid loss additives are of different types synthetically modified natural, synthetic, and natural, that are used in various applications, such as drilling fluid and cement slurry.
Market Dynamics
Increasing shale gas exploration and crude oil production is attributed as the major driver contributing to the demand for fluid loss additives. In addition, as these activities require ultra-modern technologies such as multistage hydraulic fracturing of horizontal wells, they are carried out with the support of various formulated drilling fluids that aid to maintain wellbore stability, pump pressure, circumvent friction and corrosion and remove & transport cuttings.
As per the report, the market is segmented by:
Based on the type, the market is segmented as synthetically modified natural, synthetic, and natural additives. The synthetically modified natural additives segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Its high performance in extreme conditions, including high temperature & pressure is the key driver for its dominance.
Based on the application type, the fluid loss additives market is segmented as drilling fluid and cement slurry. The drilling fluid segment dominates the market as fluid loss additives are used to avoid loss of filtrate during well drilling, and as the demand for crude oil is increasing the drilling activities are also rising, which are propelling the growth of the segment during the forecast period.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for fluid loss additives during the forecast period, as the US is one of the largest producers of crude oil and has made heavy investments in unconventional drilling technologies such as horizontal drilling and hydraulic fracturing where fluid loss additives play a major role. Increasing shale gas exploration in the US is also expected to offer substantial growth opportunities during the forecast period.
A sneak peek into the Report:
This report serves as a comprehensive source of market analysis. The report's layout has been kept simple in order to have the most business value possible. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions. The following is the report's key features:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market forecast analysis.
Competitive landscape and dynamics: Market share, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging Trends & Key success factors
Key Players
The market for Fluid Loss Additives is highly consolidated with the strong presence of key players such as-
- Schlumberger Limited
- BASF SE
- Halliburton
- Newpark Resources Inc.
- Clariant
- Solvay
- Nouryon
- Global Drilling Fluids and Chemicals Limited
- Tytan Organics Pvt. Ltd.
- Kemira OYJ
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Stratview research also offers custom research for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors, in addition to this thorough review.
Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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