FORT WORTH, Texas, December 23, 2014 /PRNewswire/ --
The Asia-Pacific Drilling Fluid and Completion Fluid Market report defines and segments the concerned market in Asia Pacific, with analysis and forecast of revenue. The market was valued at $1637.8 million in 2013, and is anticipated to reach at $2,386.3 million by 2018, at a CAGR of 7.8% during the forecast period, 2013 to 2018.
Browse through the TOC of Asia-Pacific Drilling Fluid & Completion Fluid Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Asia-Pacific is one of the major regions for drilling fluid & completion fluid market, due to the increased drilling activities in countries, such as China, Australia, Thailand, and India. Improved economy, incessant rise in population, and increased industrial development has led to the growing energy demand. This demand is successfully fulfilled by the rapid upsurge observed in drilling & exploration activities.
China is considered to be dominating the market for drilling fluid & completion fluid in the Asia-Pacific region, due to the presence of huge shale reserves and drilling activities conducted at a large scale. China holds a market share of approximately 75% in the Asia-Pacific drilling fluid & completion fluid market in 2013, and is expected to sustain its position in the global drilling fluid and completion fluid market.
Water-based drilling & completion fluid market in Asia-pacific region occupies a significant market share in comparison to other types of drilling & completion fluid markets, which has accounted to 60% in 2013. This growth is mainly attributed to the cost-effectiveness of the water-based drilling fluids, arising out of the extensive availability of the water bases.
Since major drilling activities are taking place in onshore fields, the onshore drilling & completion fluid market is prevailing among other application areas in the Asia-Pacific region. The market research report offers an elaborated overview of market share, value chain analysis, and varied market dynamics including drivers and restraints of this market. It also lays emphasis on company profiles of leading players in this market, along with product portfolio, company financials, recent developments, and growth strategies.
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