"Global Executive Summary Drilling Fluid Additives Market: Size, Share, and Forecast
CAGR Value
Drilling fluid additives market will grow at a rate of 9.20% for the forecast period of 2021 to 2028. Increase in the application of bio-based drilling fluids acts as a vital factor driving the growth of Drilling fluid additives market.
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Drilling Fluid Additives Industry Overview
Segments
The global drilling fluid additives market is segmented based on type, application, and region. In terms of type, the market is categorized into viscosifiers, fluid loss control additives, weighting agents, surfactants, and others. Viscosifiers are substances added to increase the viscosity of drilling fluids, while fluid loss control additives help to prevent fluid loss into the formation. Weighting agents are used to increase the density of the drilling fluid, and surfactants help in reducing surface tension. Regarding application, the market is divided into water-based fluids, oil-based fluids, and synthetic-based fluids. Water-based fluids are the most common type of drilling fluids used, followed by oil-based fluids and synthetic-based fluids. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Market Players