The
global clear brine fluids market is expected to reach USD 2.03 billion by 2020.
Increase in drilling activities particularly in the U.S., Brazil, China and
Western Africa is expected to remain a key driving factor for global clear
brine fluids market. I
ncreasing
deep water exploration investment particularly in "The Golden
Triangle" is also expected to have a positive influence on the market
growth over the next six years. Stringent environmental regulations across the
U.S. and Europe on account of ground water contamination caused by clear brine
fluids is expected to remain a major challenge for market participants.
Potassium
chloride was the largest product segment and accounted for 24.3% of total
market volume in 2013. Wide range of chloride applications is expected to
remain a key driver for this segment. Potassium chloride is also expected to
witness the highest growth rate at 10.3% from 2014 to 2020.
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Global
calcium chloride based clear brine fluids are expected to reach a market worth
USD 72 million by 2020. The chlorides and bromides clear brine fluids have been
substituting conventional drilling mud on account of their higher efficiency
and cost effectiveness.
Further
key findings from the study suggest:
Global
clear brine fluids market demand was 1,010.2 kilo tons in 2013 and is expected
to reach 1,977.5 kilo tons by 2020, growing at a CAGR of 10.1% from 2014 to
2020.
North
America emerged as the leading regional market for clear brine fluids and
accounted for 64.9% of total market volume in 2013. Increasing drilling
activities in the U.S. on account of shale gas boom and in Gulf of Mexico
remained a key driving factor for the regional market.
Asia
Pacific is expected to witness the highest growth at 11% over the next six
years. Increasing drilling activities in
China on account of presence of large amount of untapped shale gas in place is
expected to remain a key driving factor for the regional market. European clear
brine fluids market is expected to reach USD 162.3 million by 2020, growing at
a CAGR of 12% from 2014 to 2020.
Global
clear brine fluids market is moderately concentrated with top four companies
including M-I SWACO, Halliburton, Israel Chemicals Ltd., TETRA Technologies
accounted for over 50% of the total market. Other market participants include
Albemarle Corporation, Baker Hughes Inc., Zirax Ltd., The Egyptian Mud
Engineering & Chemicals Co., GEO Drilling Fluids Inc., Newpark Resources
Inc. and Chemtura Corporation. Clear brine fluids market recently, witnessed
number of mergers and acquisitions leading to significant opportunities for
market participants.
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