Clear brine fluids market to grow at a CAGR of 11.9% from 2014 to 2020: Grand View Research, Inc

In 2013, the global clear brine fluids market was worth USD 926.7 million. As of May 2013, the count for global rig was noted to be around 3,400. This increase in drilling activities has driven the demand for global rig count which has also contributed to fuel the growth of clear brine fluids market across the globe.

Move towards the growth of alternative energy resources such as CBM, tight gas, and shale gas mainly in China and the U.S. is anticipated to drive the growth of the global market. The Golden Triangle denotes oil & gas reserves of deep water wrapping offshore Brazil, offshore West Africa and the U.S. Gulf of Mexico (USGOM). Moreover, increased investment for deep water investigation mainly in the region is also projected to increase the demand for global clear brine fluids market. Egypt, Gulf of Mexico, the U.S., China, and Russia experienced increased drilling activities on account of rising demand for energy which is likely to drive the market.

Potassium chloride consumption accounted for over 20% of the global market in 2013. This was the largest product segment in the same year and is also anticipated to have the highest growth rate of over 10% from 2014 to 2020. Potassium chloride is most widely used for servicing wells in oil & gas industry. Wide applications range of all the bromides and chloride are expected to drive the global market. These are favored above conventional drilling muds on account of their effectiveness and cost efficiency. Primary applications of potassium chloride and bromide fluids take account of deep water wells, high & deep pressure oil sands and oil wells where general drilling muds are susceptible to block the foundations.

North America accounted for over 60% of the global clear brine fluids market in 2013. Shale gas flourishing in the U.S. is projected to provide the region with an upper hand over the forecast period. Asia Pacific market is anticipated to experience highest growth rate in production capabilities of over 10% from 2014 to 2020. Growing exploration activities in India along with the thriving oil & gas segment is projected to further boost the growth of clear brine fluids market in the region.

The global clear brine fluids market is amalgamated with four companies leading the market with over 50% market share and is characterized by a high threat of new entrants. Major industry participants include TETRA Technologies, M-I SWACO, Israel Chemicals Ltd., Halliburton, Albemarle Corporation and Great Lake Solutions. These companies are taking steps to gain a competitive advantage and to increase their product line.

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Further key findings from the study suggest:

  • Global clear brine fluids market demand was 1,010.2 kilo tons in 2013 and is expected to reach 1,977.5 kilo tons by 2020, growing at a CAGR of 10.1% from 2014 to 2020.
  • North America emerged as the leading regional market for clear brine fluids and accounted for 64.9% of total market volume in 2013. Increasing drilling activities in the U.S. on account of shale gas boom and in Gulf of Mexico remained a key driving factor for the regional market.
  • Asia Pacific is expected to witness the highest growth at 11% over the next six years.  Increasing drilling activities in China on account of presence of large amount of untapped shale gas in place is expected to remain a key driving factor for the regional market. European clear brine fluids market is expected to reach USD 162.3 million by 2020, growing at a CAGR of 12% from 2014 to 2020.
  • Global clear brine fluids market is moderately concentrated with top four companies including M-I SWACO, Halliburton, Israel Chemicals Ltd., TETRA Technologies accounted for over 50% of the total market. Other market participants include Albemarle Corporation, Baker Hughes Inc., Zirax Ltd., The Egyptian Mud Engineering & Chemicals Co., GEO Drilling Fluids Inc., Newpark Resources Inc. and Chemtura Corporation. Clear brine fluids market recently, witnessed number of mergers and acquisitions leading to significant opportunities for market participants

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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