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 additives are used to reduce the loss of filtrate during well cementing and drilling operations in the oil & gas industry. These additives are generally mixed with cement slurry and drilling fluid, which help to improve the cementing and drilling efficiency. These additives are mixed in very small quantities. Also, 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.
United States holds the prominent position in the market and is anticipated to witness lucrative growth over the forecast period (2021-2027). The increasing shale gas exploration activities in the region is the major growth driver for the market. Moreover, the increasing production of crude oil and heavy investments for drilling technologies is adding fuel to the market. Also, the US is the major manufacturer for crude oil. However, the impact on environment may hamper the market growth of fluid loss additives.
The outbreak of COVID 19 impacted many market including fluid loss additive market. The rising COVID cases 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.
The fluid loss additives market in United States is segmented based upon the types and applications.
Based on types the market in United States 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.
Based on applications, the market in United States 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.
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 additives are used to reduce the loss of filtrate during well cementing and drilling operations in the oil & gas industry. These additives are generally mixed with cement slurry and drilling fluid, which help to improve the cementing and drilling efficiency. These additives are mixed in very small quantities. Also, 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. United States holds the prominent position in the market and is anticipated to witness lucrative growth over the forecast period (2021-2027). The increasing shale gas exploration activities in the region is the major growth driver for the market. Moreover, the increasing production of crude oil and heavy investments for drilling technologies is adding fuel to the market. Also, the US is the major manufacturer for crude oil.
Based on types the market in United States 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. Based on applications, the market in United States 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.
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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