North
America drilling fuel market that was worth US$4,336.8 million in
2012 is estimated to be valued at US$7,203.6 million by the end of
2019, registering growth at an impressive CAGR of 7.5% during the
forecast period from 2013 to 2019.
Browse
the full North America Drilling Fluids Market report at
http://www.transparencymarketresearch.com/north-america-drilling-fluids-market.html
The
report presents a comprehensive document that includes an in-depth
study of the market trends prevalent in the regional market for
drilling fluids in North America. It focuses on the relevant segments
in terms of product types and applications. The report includes a
detailed investigation into the forces that drive demand in the
market as well as the factors that are likely to hamper growth in the
market for drilling fluids in North America.
Report
Highlights North America as the Largest Market for Drilling Fuels
The
report highlights that the increasing drilling activities carried on
across the countries in North America, South America, and Asia
Pacific have steered significant growth in the global market for
drilling fluids. North America is considered as the largest market
for drilling fluids since more than half of the world’s gas and oil
reserves are located in the United States. Furthermore, the United
States is home to the maximum number of shale and oil reserves as
compared to other countries in Asia Pacific and Europe. The rise of
drilling and completion fluid operations such as counterbalance of
the formation method, maintaining stability of wellbore, extracting
cuttings from wellbore, etc., in the Gulf of Mexico has catapulted
North America to the forefront of the global drilling fuels market.
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Report
Presents an Analysis of the Key Factors Driving the Market Growth
The
spur in demand for natural gas and crude oil in the global market and
particularly from North America will create substantial opportunities
for the market of drilling fuels in North America to grow.
Additionally, parameters such as implementation of horizontal
drilling technology and a paradigm shift from conventional sources to
developing reserves in deep ocean waters are expected to boost demand
in the drilling fluids market of North America. Also the increasing
development of alternative resources such as shale gas, shale oil,
methane, and coal bed will bolster the overall demand for drilling
fluids in North America further. However, environmental concerns
pertaining to waste disposal and contamination might hinder steady
growth of the market. But heavy investment and extensive research
undertaken to develop nontoxic and biodegradable variants of drilling
fluids will create substantial opportunities for the market to
capitalize on.
Browse
Press Release North America Drilling Fluids Market
http://www.transparencymarketresearch.com/pressrelease/north-america-drilling-fluids-market.htm
Market
Segmentation as Included in the Report
The
report segmented the drilling fluids market in North America into
Synthetic Based Fluids (SBFs), Oil Based Fluids (OBFs), and Water
Based Fluids (WBFs) on the basis of product segments. It also
includes segmentation on the basis of industrial applications.
According to the report, the United States is the largest drilling
fluids market in North America, accounting for nearly 80% of the
overall market. However, Canada is anticipated to catch up soon and
enter the competition during the forecast period from 2013 to 2019.
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