Market Synopsis
Global Fluid Loss Additives Market accounted for USD 298 million in 2019, registering a CAGR of over 3% during the forecast period.
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Key players
- Halliburton (US),
- Schlumberger Limited (US),
- Newpark Resources Inc (US),
- Solvay (Belgium),
- BASF SE (Germany),
- Clariant (Switzerland),
- Global Drilling Fluids and Chemicals Limited (India),
- Tytan Organics (India),
- Nouryon (Netherlands),
- SEPCOR, INC (US),
- Kemira (Finland),
- Audin Group (UK).
Market Segmentation
The global fluid loss additives market has been segmented based on material type, product type, application, and region.
Bentonite, barite, polyanionic cellulose (PAC), polyacrylamide (PAM), calcium carbonate, hydroxyethyl cellulose (HEC), latex, and others make up the global fluid loss additives market by material type. The most common additives in drilling fluids are bentonite, barite, and PAC. The Asia-Pacific region is likely to dominate the global market.
Water-soluble and water-insoluble fluid loss additives are among the product categories discussed in this paper. Modified natural polymers, cellulosics, vinylinic-based polymers, and others make up the water-soluble additives section. Furthermore, the section of water-insoluble additives is classified into polymer resins and others.
The global fluid loss additives market is divided into four application segments: drilling fluids, cement slurries, fracturing fluids, and completion fluids. Because of the increase in drilling activities in North America and the Middle East & Africa, the drilling fluids segment held the highest share of the global fluid loss additives market and is likely to remain dominant over the forecast period.
Market Dynamics
Fluid Loss Additives are in high demand in drilling and well-repair activities all over the world, but especially in North America. The demand is growing since it lowers the loss of petroleum derivatives during drilling and transportation. The growth of the fluid loss additives market is being fueled by rising shale gas exploration and crude oil production. Multistage hydraulic fracturing of horizontal wells is one of the specialised technologies required for these activities. Various designed drilling fluids are used to keep the wellbore stable, pump pressure, avoid friction and corrosion and remove and convey cuttings.
Exploration for sources other than oil, such as shale gas, coal-bed methane, and unconventional resources, has become possible because of technological advancements. Extensive search for non-oil sources such as coal bed methane, shale gas, and a variety of other unconventional resources has become possible thanks to the evolution and acceptance of modern technologies.
On the other hand, the market's growth is being hampered by rising demand for electric vehicles and their negative environmental impact.
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Regional Analysis
The global fluid loss additives market outlook has been reviewed with respect to five regions, namely Asia-Pacific, the Middle East & Africa, North America, Europe, and Latin America.
North America dominated the worldwide fluid loss additives market in 2018, and it is likely to continue to do so during the projected period. The presence of key market participants in the region, as well as an increase in drilling operations and well intervention activities such as slickline, wireline, pumping, or coiled tubing, are driving up demand for fluid loss additives in the region. North American countries, particularly the United States, are among the world's greatest crude oil producers and have made significant investments in unconventional drilling technologies such as horizontal drilling and hydraulic fracturing, in which fluid loss additives play an important role. In addition, the fluid loss additives market in North America is being driven by increased shale gas drilling in the United States.
Following North America, Europe is expected to hold the second-largest share of the worldwide fluid loss additives market, owing to the presence of four of the six major oil and gas firms, namely BP plc, Total, Eni SpA, and Royal Dutch Shell PLC.
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Due to growing industrialization in the region, which has contributed to the rise of the oil and gas industry, the fluid loss additives market in Asia-Pacific is predicted to develop at a healthy rate; China is the largest regional market. During the review period, the presence of large-scale oil and gas companies such as Sinopec and China National Petroleum Corporation is expected to boost demand for the commodity in China.
The large output of petroleum derivatives in the GCC countries is responsible for the growth of the fluid loss additives market in the Middle East and Africa. During the review period, however, the Latin American market for fluid loss additives is predicted to increase slowly.
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