Market Size of North America Drilling and Completion Fluids Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 10.08 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Drilling and Completion Fluids Market Analysis
The market for North America drilling and completion fluids market is expected to grow approximately at a CAGR of 10.08% during the forecast period. Factors such as operators' lower breakeven prices and high crude oil prices, drilling longer lateral wells, and revival of Mexico's oil and gas industry with the liberalization of the industry are driving the market. Moreover, robust drilling in onshore and recovery of the offshore sector in North America region is expected to drive the drilling and completion fluids market. However, inadequate pipeline capacity in the important shale plays in the United States and Canada has resulted in a huge increase in the number of uncompleted wells and has hence restrained the demand for completion fluids.
- The onshore segment accounted for the largest share in the market in 2018, owing to the onshore oil & gas activities in the United States and Canada.
- A close proximity to extensive infrastructure coupled with promising results from the deployment of new technology puts Austin Basin in a comparatively stronger position and hence is expected to provide an ample opportunity for the drilling and completion fluids market in the near future.
- The United States is expected to dominate the market over the forecast period owing to its robust drilling activities in the unconventional plays.
