Global Clear Brine Fluids Market Growth Fueled By Energy SectorPublished Date: August 18, 2020 |
According to a new report published by Research Corridor “Clear Brine Fluids (Potassium Chloride, Calcium Chloride, Sodium Chloride, Potassium Bromide, Sodium Bromide, Calcium Bromide, and Others) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027” the global clear brine fluids market was valued at over USD 800 million in 2018 and is expected to grow at a significant CAGR of around 3.5% over the forecast period during 2020 to 2027.
The rising number of global drilling activities is expected to be one of the major factors boosting the demand for drilling and completion fluids such as clear brine fluids. The demand for clear brine fluids is directly proportional to the number of drilling activities in the oil & gas industry. Additionally, increasing demand for conventional and non-conventional natural resources globally is estimated to lead to a higher number of drilling activities. This, in turn, is likely to drive the market for clear brine fluids during the forecast period. However, fluctuation in the prices of raw materials such as potassium chloride is expected to hamper the growth of the market. Increasing exploration of shale gas, CBM, and other unconventional resources is anticipated to boost demand for drilling activities. This is likely to provide new opportunities for the growth of the clear brine fluids market.
Zinc calcium bromide clear brine fluids recorded the highest demand for clear brine fluids, accounting for over 25% of the market share in 2018. Additionally, it is anticipated to be the fastest-growing product segment over the forecast period. Demand for other brine fluids has also been high due to their wide consumption in the formulation of fluid systems for controlling formation pressures. Clear brine fluids such as calcium chloride are widely used in the oil & gas industry, wherein the inhibitive properties of calcium fluid are required to prevent the hydration and migration of swelling clays.
Demand for clear brine fluids was significantly high in the Middle East, which accounted for over 30% of the global demand in 2018. This huge reserve is expected to promote its extraction, thereby promoting the use of drilling and completion fluids such as clear brine fluids over the next few years. The Asia Pacific was the second-largest segment in the clear brine fluids market in 2018. It is expected to be the fastest-growing segment during the forecast period, with China becoming one of the most attractive markets for investments for various global Energy & Production (E&P) companies.
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- Zinc Calcium Bromide
- Potassium chloride
- Calcium chloride
- Sodium chloride
- Potassium bromide
- Calcium bromide
- Sodium bromide
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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