The
Latin America drilling fluids waste management market is poised to
grow from US$413.4 million in 2013 to US$945.3 million in 2020, at a
strong CAGR of 12.6% from 2014 to 2020. Latin America Drilling Fluids
Waste Management Market and is available for sale on the company
website. The drilling fluids waste management market in Latin America
is segmented on the basis of service, application, and country. The
key services included in drilling fluids waste management are
treatment and disposal, solid control, and containment and handling.
Drilling fluids waste management finds application in both offshore
and onshore reserves. The major regions analyzed in the Latin
American drilling fluids waste management market are Brazil,
Argentina, Venezuela, and the rest of Latin America.
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Latin America Drilling Fluids Waste Management Market
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Geographically,
the regional market for drilling fluids waste management is dominated
by Brazil and the nation had the largest share of the Latin America
market in 2013. Most of Brazil’s oil production depends on offshore
reserves. The rise in investments in deep as well as ultra-deep water
reserves has contributed massively to the growth of the Brazil
drilling fluids waste management market. Argentina is predicted to
become a strong competitor in the Latin America market owing to
impending schemes by the government aimed at the exploration and
production of shale gas. By service, the drilling fluids waste
management market in Latin America is dominated by treatment and
disposal. This segment held over 35% of the total revenue in 2013
owing to strict environmental regulations targeted at the proper
treatment of drilling waste before its disposal. In terms of
application, the drilling fluids waste management market was led by
the offshore segment, which accounted for more than 55% of the market
in 2013.
Factors
that drive the drilling fluids waste management market in Latin
America include a rise in exploration and production activities in
the region, toxic content of drilling fluids that affect flora and
fauna, and issuance of strict regulations by the government towards
proper management of waste. In contrast, operational challenges in
line with government requirements is a key factor hindering the
growth of the drilling fluids waste management market.The research
report identifies and evaluates the major contributors of the
drilling fluids waste management market in Latin America.
Schlumberger Limited, Halliburton Company, National Oilwell Varco,
Weatherford International Ltd., Imdex Limited, and Baker Hughes
Incorporated are companies that have been profiled in the report
together with crucial data on company and financial overview, product
portfolio, recent developments, business strategies, and SWOT
analysis.
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The
Latin America drilling fluids waste management market is rather
consolidated in nature, with a handful of key companies accounting
for a majority share of the market. These companies have been
providing services related to drilling fluids waste management for
many years and their established brand helps them attract profitable
contracts. Services such as drilling fluids waste disposal and
handling are provided to exploration and production companies and the
prominent players are known for their innovative turnkey solutions.
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