Fluid Loss Additives Market

Fluid Loss Additives Market Size (2023-2028):

The fluid loss additives market accounted for USD 328.20 million in 2022, registering a Compound annual growth rate of over 8.10% during the outlook period and the market size is assumed to reach USD 550 million by 2028.

The surge in the exploration of shale gas and the production of crude oil is the essential factors promoting the expansion of the global fluid loss additives market. Shale gas, coal bed methane, and unconventional resources adopted in exploration activities are promoted extensively with the adoption of technological progressions.

The multistage hydraulic fracturing of horizontal wells needs sophisticated technologies to maintain stability, avoid friction and corrosion, and curb transport constraints.

The extensive exploration activities to be carried out for non-oil sources, like coal bed methane, shale gas, and various unconventional resources are allowed for technology development & evolution.   Multi-stage hydraulic fracturing of horizontal wells is a production activity that needs advanced technology and exploration.

 Schlumberger Limited (US) has a global presence and operates in around eighty-five countries with twenty-five engineering and research facilities across the globe. Applications like oil & gas processing and drilling production are among a wide variety of products that can be utilized and offered. Schlumberger Limited mostly focused on innovation and research.  In 2017, the organization spent around USD 800 million on research and engineering activities in the oilfield.

The sale process for its construction chemical wing now of BASF SE recently has started they are predicting or assuming toward the sell-off could fetch around USD 3 bn.

Drivers in the Fluid Loss Additives Market

• Growing crude oil production

• Shale gas exploration created new avenues

• Evolution and development of technology for the growth

• Latest and unconventional drilling technologies in the largest investments

Restraints in the Fluid Loss Additives Market

• Impact on the environment by destructing the aquatic bodies

• The growing demand for electric vehicles to restrict crude oil consumption

 Opportunities in the Fluid Loss Additives Market

• The rising demand for drilling fluids and cement slurry

• Nations like China, India, the US, and Germany offer lucrative growth opportunities

• The shale gas exploration projects in North America resulted in high demand for these additives

FLUID LOSS ADDITIVES MARKET REPORT COVERAGE:

The fluid loss additives market is segmented into the following categories as per the research report.

Fluid Loss Additives Market - By Type:

• Synthetically Modified Natural Additives

• Synthetic Additives

• Natural Additives

The synthetically modified natural additives segment is predicted to have the highest growth in terms of value and volume, in the worldwide market. The demand for synthetically modified natural additives is large across the world mainly because of their high performance in extreme conditions, and high temperature & pressure.

Fluid Loss Additives Market - By Application:

• Drilling Fluid
• Cement Slurry

The drilling fluid segment is predicted in the forecast period to dominate the global fluid loss additives market. Fluid loss additives are an important application used to avoid loss of filtrate during good drilling. So, the demand for crude oil is increasing the drilling activities, which is fuelling the growth of the fluid loss additives market.

Fluid Loss Additives Market – By Region:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle east and Africa

The global fluid loss additives market is analyzed across the areas of North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Among these, North America is projected to register the most substantial share of the worldwide market in the evaluation period. The USA is among the largest manufacturers of crude oil that made huge investments in the latest drilling techniques. Methods such as hydraulic fracturing and horizontal drilling have been used extensively and these technologies require the usage of fluid loss additives. As a result, the US plays an important role as an operating factor for the fluid loss additives market.

The fluid loss additives market report includes the following top key market players.

1. Halliburton (US)

2. Schlumberger Limited (US)

3. Newpark Resources Inc. (US)

4. Solvay (Belgium)

5. BASF SE (Germany)

6. Clariant (Switzerland)

7. Global Drilling Fluid Chemicals Limited (India)

8. Tytan Organics (India)

9. Nouryon (US)