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Latin America Drilling Fluid & Completion Fluid Market is Expected to Reach $1.45 Billion in 2018 - New Report by MicroMarket Monitor
Date:7/22/2014

for $5,276.1 million in 2013. The North American region constituted nearly 51% of the global drilling and completion fluid market in 2013.

Rise in drilling for shale oil, discoveries of coal bed methane (CBM), gas reserves and high drilling activities, and increased exploration and production activities, especially in offshore deep and ultra-deep waters in the North American region are the major reasons for the drilling and completion fluid market in North America. The lucrative and high investment areas of sub sea regions in the U.S. and Canada are also driving the exponential growth of the market.
http://www.micromarketmonitor.com/market/north-america-drilling-fluid-completion-fluid-2200133703.html

Asia-Pacific Drilling Fluid & Completion Fluid Market
The Asia-Pacific drilling and completion fluid market was valued at $1,638.24 million in 2013 and is forecasted to reach $2,386.23 million by 2018, growing at a CAGR of 7.80% from 2013 to 2018. The water-based system in drilling and completion fluids accounted for $1,013.25 million in 2013. Asia-Pacific is the second-largest market in the global drilling and completion fluid market with an estimated market share of about 15% in 2013.

Rise in drilling for shale oil and gas reserves and high drilling activities in the Asia-Pacific region are the major reasons for the growth of the drilling and completion fluid market. Regions such as Australia and China have huge shale reserves where drilling activities are starting; thus, they are set to become huge markets for drilling and completion fluids in the coming years.

Source: PRWeb
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