January 13, 2020
According to the research report titled ‘Clear Brine Fluids Market Size By Product (Potassium Chloride, Calcium Chloride, Sodium Chloride, Potassium Bromide, Sodium Bromide, Calcium Bromide), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global clear brine fluids market is expected to be worth USD 1.8 billion by the year 2026.
According to the report, rising shale exploration activities in tandem with increasing utilization of clear brine fluids to produce scale inhibitors, defoamers, and non-emulsifiers are driving the market growth. Clear brine fluids offer high resistance to mud swelling and high penetration during drilling operations. Growing demand for the product during well completion processes in petroleum and gas industries is aiding the expansion of the market.
Clear brine fluids help improve operational effectiveness by reducing lifting cost and improving the productivity of well. Rising adoption of clear brine fluids for horizontal drilling as well as hydraulic fracturing techniques are stimulating the industry outlook.
Various governments across the globe have introduced strict policies for well competition processes in order to ensure high production output. This factor along with rising enhanced oil recovery (EOR) operations in order to boost oil production from drill rigs are contributing towards the popularity of the product across the globe.
As per product type, the report cites that potassium bromide segment is expected to register substantial growth during the estimated timeframe. Various non-OPEC countries are investing heavily on developing oil & gas reserves in order to meet domestic energy requirements. Furthermore, rapid expansion of oil & gas industry in Middle East & Africa and North America are facilitating the business scenario.
On the other hand, calcium chloride segment will witness considerable growth during the forecast period. Calcium chloride provides osmotic wellbore stability especially in water sensitive shale zones. Additionally, it helps to prevent migration and hydration of swelling clays during oil & gas production activities.
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As per regional analysis, the report states that Middle East dominates the clear brine fluids industry due to the presence of multiple crude oil reserves across the region. Surging export of petroleum products is further contributing towards the market growth. Meanwhile, North America clear brine fluids market is predicted to expand significantly due to rising shale gas production and advancements in technology.
The prominent companies operating in clear brine fluids market are Chemcon Speciality Chemicals Pvt. Ltd., Schlumberger Ltd., Carousel Specialty Products Inc., Chemtura Corporation (LANXESS), Halliburton, Clements Fluids, Sinomine Resource Group, TETRA Technologies Inc., Solent Chemicals, Zirax Ltd., Israel Chemicals Ltd., Great Lake Solutions, Geo Drilling Fluids Inc., Albemarle Corp., and Egyptian Mud Engineering & Chemicals Co. (EMEC).
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