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North America has been experiencing an upsurge in shale gas production, which has augmented clear brine fluids market share

Author : Ravi Chawat | Published Date : 2020-10-26 

North America has been experiencing an upsurge in shale gas production, which has augmented clear brine fluids market share. Drilling operations in the region are becoming more advanced to facilitate increased oil production. Moreover, business participants in the region are investing heavily in research & development activities and entering into strategic agreements for gaining higher revenues, which will spur clear brine fluids industry growth.

MEA houses numerous crude oil reserves, resulting in significant clear brine fluids market demand in the region. Demand for petroleum products is intensifying, which is likely to impel oil production and boost clear brine fluids industry outlook. Also, MEA exports a huge amount of petroleum products globally, generating growth opportunities for the business.

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Clear brine fluids market players are pursuing aggressive R&D activities to offer advanced products and expand their customer base. They are prioritizing business strategies, such as mergers and acquisitions to strengthen their foothold across the world. Some of the major clear brine fluids industry participants are TETRA Technologies, Albemarle Corporation, Halliburton, Egyptian Mud Engineering & Chemicals Company (EMEC), and Schlumberger Ltd. amongst others.

Clear brine fluids, also known as completion or workover fluids, are salt-based solutions that are used extensively in completion and drilling processes in the gas and oil sector. These fluids help control high pressure and high temperature in the reservoirs during drilling processes, in order to mitigate hazards and damage. Clear brine fluids are widely preferred over their conventional counterparts, owing to their advantages and efficient performance. Based on product, the clear brine fluids market is broadly categorized into sodium chloride, potassium chloride, calcium, sodium bromide, calcium bromide, potassium bromide, and more.

Global clear brine fluids market will be driven by rising oil & gas exploration activities around the world. The development of modern industrial societies has been possible majorly due to the cheap and abundant availability of energy in the form of fossil fuels. Statistically, oil constitutes 40% of the primary power generation, while natural gas accounts for 23% of the energy production today.

Some of the most widely used clear brine fluids are sodium chloride, potassium chloride, calcium chloride, sodium bromide, calcium bromide, and potassium bromide. These fluids are salt-based solutions that find extensive applications in drilling operations and completion processes within the petroleum and oil & gas sectors.

Depletion of natural gas crude oil sources has been a major concern over the past decade. Most companies are aiming to adopt alternative sources of power which is anticipated to accelerate the product demand in the near future. Global Market Insights, Inc., forecasts that clear brine fluids market size will be worth USD 1.8 billion by 2026.

Get Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/clear-brine-fluids-market

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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