The fluid loss additives market would grow at a CAGR of over 3% during the projection period. Fluid loss additives, also known as filtrate reducing agents or fluid loss control additives, are chemical additives used in drilling and well-operating systems to limit the fluids flow through a permeable zone. The growth of the fluid loss additives market is being fueled by rising shale gas exploration and crude oil production. Exploration for sources other than oil, such as coal-bed methane, shale gas, and unconventional resources, has become possible because of advancements in technology. Because fluid loss additives are one of the most significant additives used in the drilling process, the growing shale gas exploration will fuel the fluid loss additive market growth.
Environmental rules encourage preventative measures to avoid water body damage, and one of the primary drivers driving the market is the use of eco-friendly fluid loss control additives for drilling operations in water-based muds. However, rising demand for electric vehicles reduces crude oil consumption, acting as a market restraint. As a result, because electric vehicles do not require crude oil-based fuels, the market for fluid loss additives may be stifled. On the other hand, the market's growth is hampered by the rising demand for electric vehicles and their negative environmental impact.
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).
Sep 2021 IsoBond is a cement system developed by Halliburton Company that reduces sustained casing pressure (SCP) at its source to create a barrier that reduces transition time, reduces fluid loss, and increases shear bonding. Unlike slurries, which are only meant to prevent fluid loss, the IsoBond cement technology eliminates SCP on all fronts. IsoBond reduces annular flow through cement and boosts anchoring force to the casing and formation by up to 40% compared to existing systems because of its short slurry transition time and rapid gel strength development. Because of the enhanced shear bonding, the cement sheath is more resistant to corrosive fluid deterioration.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||material type, product type, application, and region|
|Geographies Covered||Asia-Pacific, the Middle East & Africa, North America, Europe, and Latin America.|
|Key Vendors||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).|
|Key Market Opportunities||Increase the demand for fluid loss additives in the oil & gas industry.|
|Key Market Drivers||The increasing shale gas and shale oil production in North America and Europe is expected to be the key factor driving the demand|
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.