Clear Brine Fluids Market size to exceed USD 1.8bn by 2026
Published Date: December 18, 2019 Authors: Kiran Pulidindi, Hemant Pandey
Clear Brine Fluids Market size will likely reach over USD 1.8 billion by 2026; according to a new research report by Global Market Insights, Inc.
Proliferating shale gas production will escalate the revenue generation
Clear brine fluids are water-based solutions with low or no solid particles containing inorganic salts that find application in petroleum sector across the globe. Brine fluids are manufactured using multiple salts with wide range of densities to match the user requirement in petroleum and gas industries. Brines comprise of several salts including potassium, sodium, calcium, zinc, and bromide used to enhance the drilling and completion operations in the oil rigs.
The rising inclination towards shale gases usage for industrial purposes along with discovery of shale and gas reserves are the key factors driving the clear brine fluids market share. Increasing fuel and lubricant demand for machines in industries including construction and mining operations is driving the demand for fossil fuels and thereby propelling the industry growth over the forecast timeframe.
The clear brine fluids find application in drilling processes to maintain internal temperature and pressure of the reservoir. Proliferating oil and gas products across the globe for commercial and domestic sector will stimulate the product demand. However, rising crude oil prices coupled with increasing trade conflicts across the globe may hamper the clear brine fluids industry growth.
Oil & gas industry participants are focused towards product derivation from unconventional resources including oil sands and shale oil to cope up with the depleting natural resources. Shale gas discovery in countries including China, Russia and the U.S. along with increasing consumer requirement for petroleum products will accentuate the industry expansion over the study timeframe.
Browse key industry insights spread across 152 pages with 220 market data tables & 13 figures & charts from the report, “Clear Brine Fluids Market Size By Product (Potassium Chloride, Calcium Chloride, Sodium Chloride, Potassium Bromide, Sodium Bromide, Calcium Bromide), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Water based drilling to drive potassium chloride demand
Potassium chloride will account for a significant growth in clear brine fluids market share owing to its application for water-based drilling process. It offers improved efficiency in stabilizing the oil pressure in the reservoirs and provides cost effective solution as compared to the other alternatives available in the industry. Superior inhibiting properties and high suitability for water-based drilling and completion fluids will enhance the segment penetration. Rising consumer inclination towards efficient completion operations along with high usage of completion fluids offering characteristics including non-detrimental to formation will stimulate the product demand.
Middle East to bank upon rising investment in oil and gas sector
Middle East will foresee steady growth with government authorities involved in strategic investments in oil and gas industries to boost their economic growth and gain competitive advantage. For instance, in September 2019, China announced its plans to invest over USD 400 billion for the projects related to petrochemical and manufacturing sector in Iran. High investment in oil and gas sector accompanied will enormous operational and potential oil reserves will in turn increase the usage of clear brine fluids for production of oil and gas products.
Industry participants involve in strategic acquisition to gain competitive edge
Key strategies including mergers and acquisition are adopted by industry players to increase the revenue generation across the globe. For instance, in April 2016, Schlumberger Ltd announced the acquisition of Cameron International for enhancing their manufacturing technologies for enhanced production capacity. The company will integrate its well and reservoir technology with Cameron’s surface & wellhead equipment and processing technology. Major players in the clear brine fluids marketplace include Albemarle Corporation, TETRA Technologies, Egyptian Mud Engineering & Chemicals Company (EMEC), Halliburton and Schlumberger Ltd among others.
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