ID: MRFR/CnM/6748-HCR | February 2021 | Region: Global | 140 pages
Global Fluid Loss Additives Market accounted for USD 298 million in 2019, registering a CAGR of over 3% during the forecast period.
Fluids loss additives, also known as fluids loss control additives or filtrate reducing agents, are chemical additives used to control the fluids flowing through a permeable zone formed in the drilling and well-operating systems. Loss of fluids results in unwanted changes in the set time, viscosity, mud displacement, and low final compressive strength. Besides, the loss of fluids during petroleum production leads to financial loss. These factors are expected to increase the demand for fluid loss additives in the oil & gas industry. Moreover, the increasing shale gas and shale oil production in North America and Europe is expected to be the key factor driving the demand for fluid loss additives and boost the global market growth during the forecast period.
The high production cost of fluid loss additives is expected to hamper the growth of the global market during the forecast period.
Global Fluid Loss Additives Market Share, by Region
Source: MRFR 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 held the largest share of the global fluid loss additives market in 2018 and is expected to be the dominant regional market during the forecast period. The demand for fluid loss additives in the region is growing at a significant rate owing to the presence of prominent market players in the region and increase in the drilling operations and well intervention activities such as slickline, wireline, pumping or coiled tubing.
North America is followed by Europe, which is projected to hold the second-largest share of the global fluid loss additives market attributed to the presence of four of the six major oil & gas companies, namely BP p.l.c., Total, Eni SpA, and Royal Dutch Shell PLC.
The fluid loss additives market in Asia-Pacific is expected to witness healthy growth owing to rapid industrialization in the region, which has led to the growth of the oil & gas industry; China is the leading regional market. The presence of large-scale oil & gas producers such as Sinopec and China National Petroleum Corporation is projected to propel the demand for the product in China during the review period.
The growth of fluid loss additives market in the Middle East & Africa is attributed to the high production of petroleum derivatives in the GCC countries. However, the Latin American market for fluid loss additives is expected to witness sluggish growth during the review period.
The global fluid loss additives market has been segmented based on material type, product type, application, and region.
The global fluid loss additives market, by material type, has been divided into bentonite, barite, polyanionic cellulose (PAC), polyacrylamide (PAM), calcium carbonate, hydroxyethyl cellulose (HEC), latex, and others. Bentonite, barite, and PAC are the most widely used additives in drilling fluids. The PAC segment is expected to hold the largest share of the global market.
The product types of fluid loss additives covered under the scope of the report are water-soluble and water-insoluble. The water-soluble additives segment is further divided into modified natural polymers, cellulosics, vinylinic-based polymers, and others. Moreover, the water-insoluble additives segment is sub-divided into polymer resins and others
Drilling fluids, cement slurries, fracturing fluids, and completion fluids are the application segments of the global fluid loss additives market. Among these, the drilling fluids segment held the largest share of the global fluid loss additives market and is expected to be the dominant segment during the forecast period, owing to the rise in the drilling operations in North America and the Middle East & Africa.
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), and Audin Group (UK).
Frequently Asked Questions (FAQ) :
Fluid Loss Additives Market valuation was USD 298 million.
The forecasted valuation is 3.3% for the duration including 2019 to 2025.
The polyanionic cellulose segment would dominate.
The water-soluble type would command.
The drilling fluids segment would influence the market the most.