Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Fluid loss control additives are primarily used to maintain a constant fluid volume. They are also called as filtrate reducing agents and are employed for maintaining a constant water/solid ratio in cement slurries downhole by controlling the rate of water loss to adjacent permeable zones through suitable viscofication. Fluid loss control additives are available in various special grades, including LGT, MGT and HGT. These additives have low solubility in hydrocarbons and minimum plastic flow in all grades, they also impart excellent filtrate control in oil based drilling fluid systems. The additive aids the operators to maintain the essential characteristics of the cement slurries, plus the thickening time, viscosity, compressive strength development and density.
North America holds the prominent position in the market. The increasing drilling activities in the region and increasing shale gas exploration activities is driving the market. Moreover, the increasing crude oil production is adding fuel to the market. Also, the united states is the largest producer of natural gas. The heavy investments made for unconventional drilling technologies is contributing to the market growth. However, the impact on environment and research on alternatives for crude oil may hamper the market growth.
The outbreak of COVID 19 impacted many market including fluid loss additive market. The rising COVID cases in the region, especially in U.S. forced the government to impose lockdown. This halted the drilling activities which decreased the demand for fluid loss additives. Also, the various stringent rules imposed led to the break in supply chain and also reduced the production due to temporary closure of the industries. Moreover, the overall economic loss also had a significant impact on the market.
In North America, the fluid loss additives market is segmented based upon the types and applications.
In North America, based on types the market is segmented into synthetically modified natural additives, synthetic additives and natural additives. Among these, the synthetically modified natural additives segment holds the largest share in the market and is anticipated to register highest growth over the forecast period. the chemical changes and formulations led its high performance at extreme conditions including high temperatures and pressure. This is the major factor for the segment growth.
In North America, based on applications, the market is segmented into drilling fluids and cement slurry. Among these, the drilling fluid segment holds the largest market share. The increasing drilling activities in the region and rising demand for shale gas and crude oil production is the major driver for the market growth.
In North America, the various countries studied are United States, Canada and Mexico. United States holds the largest market in the region followed by Canada. The USA is the largest manufacturer of the crude oil. Also, the heavy investment done for advanced technologies is flourishing the market.
The various key players in the region are Schlumberger Limited, BASF SE, Halliburton, Newpark Resources Inc., Clariant, Solvay, Nouryon, Global Drilling Fluids and Chemicals Limited, Tytan Organics Pvt. Ltd, Kemira OYJ, The Dow Chemical Company, Omnova Solutions, Aubin Group, Chevron Phillips Chemical Company, Innospec, Ashland, Universal Drilling Fluids, Sekisui Specialty Chemicals America.
Fluid loss control additives are primarily used to maintain a constant fluid volume. They are also called as filtrate reducing agents and are employed for maintaining a constant water/solid ratio in cement slurries downhole by controlling the rate of water loss to adjacent permeable zones through suitable viscofication. Fluid loss control additives are available in various special grades, including LGT, MGT and HGT. These additives have low solubility in hydrocarbons and minimum plastic flow in all grades, they also impart excellent filtrate control in oil based drilling fluid systems. North America holds the prominent position in the market. The increasing drilling activities in the region and increasing shale gas exploration activities is driving the market. Moreover, the increasing crude oil production is adding fuel to the market. Also, the united states is the largest producer of natural gas.
In North America, based on types the market is segmented into synthetically modified natural additives, synthetic additives and natural additives. Among these, the synthetically modified natural additives segment holds the largest share in the market and is anticipated to register highest growth over the forecast period. Based on applications, the market is segmented into drilling fluids and cement slurry. Among these, the drilling fluid segment holds the largest market share. In North America, the various countries studied are United States, Canada and Mexico. United States holds the largest market in the region followed by Canada.
The various key players in the region are Schlumberger Limited, BASF SE, Halliburton, Newpark Resources Inc., Clariant, Solvay, Nouryon, Global Drilling Fluids and Chemicals Limited, Tytan Organics Pvt. Ltd, Kemira OYJ, The Dow Chemical Company, Omnova Solutions, Aubin Group.
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