| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Drilling and Completion Fluids Market Analysis
The Drilling and Completion Fluids Market is expected to register a CAGR of greater than 5% during the forecast period.
- The onshore segment accounted for the maximum market share in 2020. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of the global oil production.
- With wells being drilled farther away from land and into the sea, primarily drilled deeper than before, there is an increasing demand for drilling and completion fluids during the upcoming years.
- North America is the largest market for drilling and completion fluids, accounting for over 40% of the market share. Moreover, it is expected to be the fastest-growing market over the forecast period, mainly due to the development of shale plays.
Drilling and Completion Fluids Market Trends
Onshore Segment to Dominate the Market
- Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of the global oil production. Onshore drilling is similar to offshore drilling but without deep water between the platform and the oil.
- The demand for oil and gas has constantly been increasing, and this increased drilling activities around the world to discover new fields. This, in turn, increased the demand for drilling and completion fluids worldwide.
- Oil consumption worldwide reached 88,696 thousand barrels daily in 2020, up from 86,568 thousand barrels daily in 2010. Thus with an increase in oil demand, new oil wells are expected to be drilled in the coming years, resulting in an increased demand for drilling and completion fluids worldwide.
- Currently, the wells are being drilled deeper, and they are more complex than before. This is expected to drive the drilling and completion fluids market's growth.
- In 2021, Saipem was awarded new onshore drilling contracts in the Middle East and South America. The new contracts are worth a total of USD 70 million. Further, in May 2021, the company had onshore drilling contracts of USD 250 million with Saudi Arabia.
- Hence, new investment in the onshore oil and gas industry, increasing exploration of unconventional resources, and the crude oil price stability are expected to increase the demand for drilling and completion fluids worldwide.
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North America to Dominate the Market
- North America is expected to dominate the drilling and completion fluids market, and it is expected to witness significant growth over the forecast period.
- In North America, offshore oil and gas projects are becoming more competitive, owing to improving efficiencies and tightening the supply chain, which led to declining offshore drilling costs.
- In terms of policy and government support, the US federal government launched an auction of more than 80.9 m acres to be leased by the US government for oil and gas production in 2021.
- Furthermore, the recent development of shale plays, horizontal drilling, and fracking resulted in a massive increase in the country's demand for drilling and completion fluids. For Instance, in 2020, extensions and discoveries of 92 million barrels of new proved crude oil reserves were reported, mostly from operators drilling horizontal wells in the Uinta Basin, Colorado, United States.
- Therefore, factors such as rising offshore oil and gas investments and shale development in the region are expected to drive the drilling and completion fluids market's growth over the forecast period.
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Drilling and Completion Fluids Industry Overview
The drilling and completion fluids market is moderately fragmented, with numerous small and big companies operating in the market. The key players in this market include Schlumberger Limited, Baker Hughes Company, Halliburton Company, CES Energy Solutions Corp., Tetra Technologies, and Scomi Energy Services BHD.
Drilling and Completion Fluids Market Leaders
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Schlumberger Limited
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Halliburton Company
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CES Energy Solutions Corp
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Newpark Resources Inc.
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Weatherford International Plc
- *Disclaimer: Major Players sorted in no particular order
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Drilling and Completion Fluids Market News
- In November 2021, Danish offshore drilling contractor Maersk Drilling announced that it had entered a definitive agreement to merge with its US rival Noble Corporation in a primarily all-stock transaction, which will result in the creation of a combined company with a fleet of 20 floaters and 19 jack-up rigs.
- In October 2021, CWC Energy Services Corp. announced that its wholly-owned subsidiary, CWC Energy Services (USA) Corp., entered a definitive agreement to acquire 10 active high-spec triple drilling rigs and all related and ancillary equipment and inventory from a privately held contract drilling company based in Casper, Wyoming, United States.
Drilling and Completion Fluids Industry Segmentation
The drilling and completion fluids market report includes:
| Application | Onshore |
| Offshore | |
| Fluid Type | Water-based |
| Oil-based | |
| Other Fluid Types | |
| Well Type | Conventional |
| High Pressure High Temperature (HPHT) | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa |
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Drilling and Completion Fluids Market Research FAQs
What is the current Drilling and Completion Fluids Market size?
The Drilling and Completion Fluids Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Drilling and Completion Fluids Market?
Schlumberger Limited, Halliburton Company, CES Energy Solutions Corp, Newpark Resources Inc. and Weatherford International Plc are the major companies operating in the Drilling and Completion Fluids Market.
Which is the fastest growing region in Drilling and Completion Fluids Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Drilling and Completion Fluids Market?
In 2025, the North America accounts for the largest market share in Drilling and Completion Fluids Market.
What years does this Drilling and Completion Fluids Market cover?
The report covers the Drilling and Completion Fluids Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Drilling and Completion Fluids Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Drilling Fluids Industry Report
Statistics for the 2025 Drilling and Completion Fluids market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Drilling and Completion Fluids analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
