The period between 2021 and 2031 to mark a noteworthy growth of the Oilfield Drilling Additives Market
Oilfield chemicals play a significant role in the oil and gas industry. Most common oilfield chemicals used by the industry are organic chemicals and solvents, surfactants, transition metal compounds, inorganic salts, water-soluble and oil-soluble polymers. These chemicals control the bacterial growth, foam & wax formation and corrosive action in oils and gases. Drilling additives is one of the major applications in the oilfield chemicals market.
Chemical formulations used for multiple
functions in oil processing are termed as oilfield drilling additives. The
additive technologies excel with emulsification and thinning or dispersion of
oil-based muds. They help to create proper fluid weighting to balance pressure
formation and optimize fluid flow. Other functions include maintaining strong
boundary lubrication films in silicate-based mud systems specialized for shale
drilling, which is done by lubricating agents. Other functions include
wettability, dispersant, detergency and clay stabilization. Selection criteria
of drilling additives require careful consideration of several
aspects, such as pressures and temperatures, rock composition, well design,
protection of the producing zone, reservoir chemistry, and environmental
regulations. The focus is on performance, temperature stability and tolerance
of products from contamination for drilling fluid systems.
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While there are many types of components and
additives currently being used in the industry, usually the classification of
fluids is based on the formulation of coatings as water based, oil based and
synthetic based. Each type varies greatly and the composition is different with
different technical specifications. The major chemicals used in the industry
are sulfurized or chlorinated compounds, polyglycols, acrylics, esters
polyamides, glutaraldehyde, alcohols and many more. In a recent merger by The
Lubrizol Corporation, a Berkshire Hathaway company, signed an agreement with
Weatherford, stating that the company’s drilling fluids and additives business
will now be a part of the Lubrizol Corporation. The Lubrizol Corporation has
introduced a new mobile application called the Oilfield Drilling Fluids Product
Guide, which is designed to help formulators of Oilfield Drilling Fluids to
identify advanced Lubrizol chemistries that help achieve a wide range of
performance needs. Arabian Drilling Corporation launched three new products
AD41, AD42 and AD43; which have special drilling control systems equipped with
Amphion Integration, a technology that provides compact and comfortable rigs.
Increasing demand from energy sector is
creating thrust to drilling deeper for more oil extraction, the protection of
oil from various harmful organisms in the biocides industry are some of the key
factors driving the growth of the oilfield drilling additives market. Total
cost to target with environmentally acceptable fluid systems, European
environmental concerns, strict environmental regulations are probable factors
restraining the growth of the oilfield drilling additives market.
The global oilfield
drilling additives market is broadly classified on the basis of formulation of
coatings, type and geographies.
|
Based on formulation
of coatings |
·
Water
based ·
Oil
based ·
Synthetic
based |
|
Based on type |
·
Dispersants ·
Fluid
Viscosifiers ·
Corrosion
Inhibitors ·
Biocides ·
Surface
Modifiers ·
Defoamers |
|
geographic regions |
·
North
America ·
South
America ·
Eastern
Europe ·
Western
Europe ·
Asia-Pacific ·
Japan ·
the
Middle East & Africa |
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“PMR Exclusive Article”
The most significant change in the
petrochemical industry over the past five years has been the rapid exploitation
of shale gas and oil reserves in North America. Global oilfield chemicals
market is expected to grow owing to new wells discovery in countries like
China, Poland. The global oilfield drilling additives market is expected to
expand at a promising CAGR during the forecast period (2015-2025). The global
oilfield drilling additives Market is expected to register a double-digit CAGR
for the forecast period. As of 2015, North America dominated the global
oilfield drilling additives market in terms of market revenue. Asia Pacific is
projected to expand at a substantial growth and in next few years, the Middle
East & Africa is expected to be the greatest market as this region is
exploring new oil wells and empowering in the transformation of old oil wells.
This will contribute to the global oilfield drilling additives market value
exhibiting a robust CAGR during the forecast period, 2015 – 2025.
Some of the key market participants in global
oilfield drilling additives market are The Lubrizol Corporation, AkzoNobel, The
Dow Chemical Company, Imerys Oilfield Solutions, BASF, Chevron Philips Chemical
Company. The research report presents a comprehensive assessment of the market
and contains thoughtful insights, facts, historical data, and statistically
supported and industry-validated market data. It also contains projections
using a suitable set of assumptions and methodologies. The research report
provides analysis and information according to categories such as market
segments, geographies, types and applications.
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posted by VISHAL PAHURKAR @ March 23, 2022
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