SAN FRANCISCO, April 23, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 124 page research report with TOC on "Clear Brine Fluids Market Size, Share & Trends Analysis Report By Product (Zinc Calcium Bromide, Cesium Formate, Potassium Chloride, Calcium Chloride, Sodium Bromide), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
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.
Grand View Research has segmented the global clear brine fluids market on the basis of product and region:
- 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
- Clear Brine Fluids Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Saudi Arabia
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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