DUBLIN--(BUSINESS WIRE)--The "Clear Brine Fluids Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for Clear Brine Fluids is expected to grow at a CAGR of more than 4% during the forecast period.
Companies Mentioned
- Cabot Corporation
- LANXESS
- Albemarle Corporation
- Egyptian Mud Engineering & Chemicals Company
- Schlumberger
- Tetra Technologies
- Halliburton
- Clements Fluids
- Israel Chemicals Limited
Key Market Trends
Increasing demand from the oil and gas industry
Clear brine fluids are salt-based solutions that find applications in extracting and drilling operations for the petroleum and gas sector. These fluids also aid in controlling high-temperature and high-pressure in the reservoir during conventional drilling processes and further reducing the damage and hazards. Proliferating the oil and gas sector along with increasing drilling of rigs for gas extraction will significantly contribute to the industry expansion during the forecast period.
- Depleting of easily available natural gas and crude oil sources is forcing energy companies to look for unconventional energy sources, accompanied by increasing adoption of efficient techniques like enhanced oil recovery will further boost the clear brine fluids markets. Industry players are developing energy products from unconventional resources including gas hydrates, coal bed methane, shale gas/oil, and tight gas sands. Clear brine fluids requirement for the exploration and extraction of such energy sources from the reserves will accentuate the volume.
- However, due to COVID-19, the number of oil rigs in operation has reduced in 2020. For example, according to Baker Hughes, the number of oil rigs have fallen from 2,073 in January 2020 to about 1,176 in May 2020. This is expected to negatively affect the clear brine fluids market in the current year.
- The raw materials including sodium, calcium, cesium, chlorine, potassium, and bromine are used in the manufacture of multiple types of clear brine fluids. Zinc/calcium bromide and potassium chloride products are estimated to have significant market share. Calcium bromide brine solutions are used for reducing formation damage due to clay swelling and dispersion. While Potassium chloride is used for stabilization of water-sensitive clays from the high pressure developed in the reservoirs.
Middle-East and Africa is expected to dominate the market
Middle East and Africa accounted for a significant share in the clear brine fluids market owing to region being largest producer of crude oil in the world from countries like Saudi Arabia, UAE, Iraq, and Iran. Moreover, Qatar is the fifth-largest gas producer in the world and holds the third largest gas reserves in the world (estimated at 16% of the global total). Nigeria, Angola, Kenya, and Mozambique are the key contributing nations to the African oil and gas sector. However, Africa has witnessed a downward trend in oil and gas industry with players shifting towards geologies offering promising returns with attractive fiscal terms. Until 2019, the oil and gas production was expected to grow significantly due to increasing energy import demand from the Asia-Pacific and Europe.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising global hydrocarbon exploration & production
4.1.2 Increasing Enhanced Oil Recovery activities
4.2 Restraints
4.2.1 Fluctuations in crude oil prices
4.2.2 Impact of COVID-19 Outbreak
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By product type
5.1.1 Calcium chloride
5.1.2 Sodium chloride
5.1.3 Zinc calcium bromides
5.1.4 Cesium Formate
5.1.5 Potassium chloride
5.1.6 Others
5.2 By Application
5.2.1 Oil and Gas Exploration
5.2.2 Enhanced Oil Recovery
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wbuiex
