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Clear Brine Fluids Market Size | Trends, Forecast and Analysis By 2024

Author : Ronak Bora | Published Date : 2019-06-04 

Growing oil & gas industry will be the chief growth driver for the clear brine fluids market size over the forecast duration. The product is extensively employed in drilling process and completion activities. It is used in conventional drilling for controlling high -temperature and high-pressure in reservoir and thereby reducing damage risk. Booming Oil & gas industry coupled with rising rig counts shall substantially contribute towards global clear brine fluids market growth during the forecast duration.

Shale gas production in U.S has further complimented oil & gas industry, which in turn, shall positively influence clear brine fluids market growth by 2024. For example, in 2009, production of shale gas was approximately 3 trillion cubic feet and in 2015 reached around 9 trillion cubic feet. Moreover, natural resources (natural gas and crude oil) depletion has widened the natural gas and crude oil demand and supply and drifted industry focus towards renewable resources development such as coal-bed methane, methane hydrates, shale gas/oil and tight gas. These factors shall accelerate product demand in oil & gas sector over the forecast timeframe.

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Potassium chloride segment of overall clear brine fluids market accounted for approximately 25% of total industry share. This segment is likely to witness maximum gains during the forecast period. In 2016, it was valued close to USD 150 million. It is highly desirable in oil & gas industry due to the economic benefits as well as its ability to stabilize water-sensitive clay from excessive pressure in reservoirs during completion and drilling processes. Increasing shale gas reserves exploration activities across Canada, UK and the U.S will propel product demand during forecast duration.

Calcium bromide segment shall witness growth rate more than 5% in the forecast period. It is widely used in numerous applications including completion and workover fluids. Calcium bromide, on account of its inhibitive properties, is extensively employed to minimize damage caused due to formation pressure.

In 2015, North America clear brine fluids market share accounted for more than 50% of the global volume. Robust U.S. oil & gas industry was the major factor attributing regional growth. Furthermore, the U.S. and Canada together have approximately 550 rig units, which significantly contributes to the regional growth. Additionally, shale gas exploration in the region will complement to the industry growth in the coming years.

Asia Pacific, mainly led by China, will witness maximum growth close to 6% over the estimated period. The regional growth will be primarily driven shale gas exploration in China. For example, China holds approximately 15% of the overall recoverable shale gas, which signifies massive growth potential for clear brine fluids market size by 2024 in the region.

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MEA clear brine fluids market size shall exceed USD 150 million over the estimated timeframe. South Africa, Algeria and Middle East countries including Egypt and Libya will contribute to the regional growth by 2024.

In 2015, clear brine fluids market size was consolidated with six major industry share contributors holding approximately 30% of the global share. Some prominent industry share contributors are Halliburton and Chemtura Corporation, Albemarle Corporation, Solent Chemicals, Israel Chemicals, EMEC, Zirax, TETRA Technologies and Geo Drillings Fluids.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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