Clear Brine Fluids Market worth USD 1.4 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Clear Brine Fluids Market by Product Type (Calcium Chloride, Calcium Bromide, Potassium Chloride, Potassium Formatem, Cesium Formate, and Others), by End-Users (Onshore Oil & Gas Production and Offshore Oil & Gas Production), by Region – Global Share and Forecast to 2030".

The global clear brine fluids market size is expected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2030, at a CAGR of 3.6% during the forecast period (2022-2030). During the forecast period, demand for oilfield chemicals such as clear brine fluids is expected to rise due to increased global demand for crude oil and natural gas, as well as other non-conventional sources such as shale gas. Upstream oil and gas operations are undergoing a rapid digitalization transformation, which is expected to improve oil and gas production. Furthermore, upstream operations are expected to benefit from increased demand for fuels such as gasoline and diesel. Drilling and completion fluids are used by oil and gas companies to boost the productivity of their wells. Drill-in, completion, workover, and packer fluids can all be made from clear brine. As a result, the use of clear brine fluids to maximise oil recovery is expected to benefit the global clear brine fluids market during the forecast period.

Global Clear Brine Fluids Market Segmentation

The overall clear brine fluids market has been segmented into the product type, end-users, and region.

• By Product Type (Calcium Chloride, Calcium Bromide, Potassium Chloride, Potassium Formatem, Cesium Formate, and Others)
• By End-Users (Onshore Oil & Gas Production and Offshore Oil & Gas Production)
• By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Onshore, by end-users, holds the largest market share

Based on end-users, the market is segmented into onshore oil & gas production and offshore oil & gas production. The onshore segment generated the highest revenue of 78.5% of the global clear brine fluids market in 2021. Setting up an oil rig on land or drilling deep beneath the earth's surface are both examples of onshore oil & gas production. It takes only a few hours to set up, and even less time for a mobile rig. After the setup, a well is prepared for drilling and completion before starting oil recovery.

Rapid technology advancements in the onshore drilling rigs market have led to increased onshore drilling activities. As a result, oil and gas companies have shifted their focus from offshore to onshore oilfields. Drilling and completion fluids, such as clear brine fluids, have seen an increase in demand as a result of this. Permian Basin, located in Texas, U.S., has shale gas and tight gas reserves.

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North America accounts for the largest market share in the clear brine fluids market

Based on the regions, the global clear brine fluids market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 38.2% in the global clear brine fluids market and was anticipated to maintain its dominance throughout the forecast period. Countries included in North America are Mexico, U.S., and Canada.

Effective July 1, 2020, the U.S.-Mexico-Canada Agreement (USMCA) replaced the North America Free Trade Agreement (NAFTA) to govern energy trade between the U.S. and Mexico. The USMCA is expected to increase North American energy integration and increase trade between the three countries. Most importantly, it is expected to retain liberalized energy trade, provide investment protection, and serve as the foundation for new U.S. investments in Mexico's natural gas and oil industry. Thus, increased oil & gas exploration and production is expected to increase demand for drilling and completion fluids such as clear brine fluids.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the clear brine fluids market. It also consists of the profiles of leading companies such as Halliburton, Schlumberger Ltd., Egyptian Mud Engineering & Chemicals Company, Zirax Ltd., Albemarle Corporation, Clements Fluids, Tetra Technologies, ICL Group Ltd., Lanxess AG, and Sinomine Specialty Fluids.

Browse the complete report: https://www.marketstatsville.com/clear-brine-fluids-market

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