Clear Brine Fluids Market - Global Industry Analysis 2023 | Research Report
Global Clear Brine Fluids Market: Snapshot
With
increasing oil and gas drilling activities worldwide, companies
operating in the global clear brine fluids market are being presented
with lucrative opportunities to expand their business. As developed
nations are striving to gain energy security, they are focusing on the
development of shale reserves as a part of their strategy. The rise in
oil and gas drilling activities for this purpose is likely to drive the
sales of clear brine fluids as they are used in the completion process
of oil and gas extraction. The increased drilling activities for the
exploration of unconventional resources is an opportunity that
manufacturers of clear brine fluid can capitalize on. However, the
unstable economic and political situation in the Middle East is likely
to impede oil and gas exploration activities resulting in a dip in the
sales of clear brine fluids.
This
126 page report gives readers a comprehensive overview of the Clear
Brine Fluids Market. Browse through to unlock the hidden opportunities
in this market.
As
a result of all these factors, the global clear brine fluids market is
likely to expand at a 6.2 % CAGR from 2015 to 2023. The market was worth
US$891.3 mn in 2015 and is projected to touch a valuation of US$1,444.7
mn by 2023.
Rise in Oil and Gas Drilling Activities to Enhance Sales of Clear Brine Fluids in North America
With
leading oil and gas companies operating in the region, North America
emerged as the largest region in the global clear brine fluids market.
As developed nations are motivated to gain energy security, the oil and
drilling activities in the region are increasing rapidly. To maintain
their position in the market and not be dependent on OPEC for energy
sources, the countries in North America have increased their drilling
activities to discover more shale reserves. North America accounted for
65.7% in terms of volume of the global clear brine fluids market in 2014
and is expected to hold a share of 64.8% by 2023.
Asia
Pacific emerged as the second largest region in the global clear brine
fluids market owing to the presence of a large number of shale gas
reservoirs in the region. China holds the largest share in the
recoverable shale gas industry, which has made it the largest region in
terms of consumption of clear brine fluids in Asia Pacific. The ongoing
oil and gas drilling activities in Asia Pacific are subsequently
boosting the sales of clear brine fluid in the region.
Potassium Chloride Brine Fluids Products Segment to Witness Fastest Growth
Potassium
chloride brine fluids are used for stabilizing water sensitive clays
during the extraction completion process. It helps in controlling the
formation damage and pressure in reservoirs during the extraction
process, thus making it the most used clear brine fluid among various
end-use industries. The global potassium chloride brine fluids segment is projected to expand at a CAGR of 6.5% in terms of revenue between 2015 and 2023.
The
calcium chloride brine fluids products segment is expected to witness
the second fastest growth in the coming years. The single-salt
composition of calcium chloride brine fluids makes it an effective
component used in the formation of brine completion and workover fluids.
Owing to the increasing demand for calcium chloride brine fluids in the
oil and gas industry for preventing clay hydration during drilling,
this product segment is likely to grow at a steady pace in the coming
years.
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The
leading companies in the global clear brine fluids market are Israel
Chemicals Ltd., Great Lake Solutions, Albemarle Corporation, and TETRA
Technologies Inc.
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