27-May-2019: The global clear brine fluids
market size is expected to reach USD 1.03 billion by 2025, according to a new
report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.3%
during the forecast period. Increasing number of drilling operations is
creating the need for completion and workover chemicals, thereby driving the
demand for clear brine fluids.
Increasing deployment of
Hydraulic Fracturing and Enhanced Oil Recovery (EOR) operations have resulted
in an increased demand for clear brine fluids, which are not only more
environment-friendly than oil-based completion fluids but also provide
excellent penetration rates in unconventional formations. Moreover, rising
acceptance of hydraulic fracturing and horizontal drilling techniques in shale gas
exploration is likely to spur the product demand.
These brines offer more
lubricity compared to the water-based muds and they function as drop-in
substitutes for oil-based muds, especially in situations of horizontal lateral
and multi-lateral operations. The economic benefits and technical advantages of
clear brine fluids over the oil-based drilling muds are anticipated to play a
crucial role in driving the market in near future.
Cesium Formate Solution (CsFO)
has emerged as one of the most significant brines used by several key service
providers and E&P companies for the most efficient completion operations.
The segment is expected witness the fastest growth over the forecast period and
is project to grow at a CAGR of 3.1% in terms of volume from 2019 to 2025.
In
depth research report on Clear Brine Fluids Market
Further
key findings from the report suggest:
· Global
clear brine fluids market size was estimated to be 940 kilotons in 2018 and is
estimated to grow at a CAGR of 2.4% over the forecast period to reach a net
volume exceeding 1,100 kilotons by 2025
· Sodium
chloride was the most commonly preferred product globally and accounted for
over 23% of the total market share on account of demand in 2018
· Middle
East and Africa held the leading market share of over 30.0% of the total demand
in 2018
· Saudi
Arabia sodium bromide brines market was valued at USD 13.0 million in 2017 and
is estimated to expand at a CAGR of 3.2% from 2019 to 2025
· Asia
Pacific is projected to be the fastest growing regional market in terms of
demand with a CAGR of 2.9% over the forecast period
· The
clear brine fluids market is fragmented in nature, wherein the key participants
compete on the basis of quality, price, formulation density, brand image, and
distribution network
· Major
market players include Albemarle Corporation, Tetra Technologies, Zirax Limited,
and Solent Chemicals.
Grand View Research has
segmented the global clear brine fluids market on the basis of product:
Clear
Brine Fluids Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
· Zinc
Calcium Bromide
· Cesium
Formate Brines
· Potassium
Chloride
· Calcium
Chloride
· Sodium
Chloride
· Sodium
Bromide
· Others
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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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