The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), GCC Drilling Fluids Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
GCC Drilling Fluids Industry Analytical Overview (2023-2028): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, GCC Drilling Fluids Market is projected to grow at a CAGR of around 5.9% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023 to 2028.
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What is Included in GCC Drilling Fluids Market Segmentation?
The report has segmented the market into the following categories:
- By Fluid System
- Water-based- Market Size & Forecast 2018-2028, USD Million
- Oil-based- Market Size & Forecast 2018-2028, USD Million
- Synthetic-based- Market Size & Forecast 2018-2028, USD Million
- Others (Air, foam, etc.)- Market Size & Forecast 2018-2028, USD Million
- By Application
- Offshore- Market Size & Forecast 2018-2028, USD Million
- Onshore- Market Size & Forecast 2018-2028, USD Million
- By Well Type
- Conventional Well- Market Size & Forecast 2018-2028, USD Million
- High Pressure and High Temperature (HPHT)- Market Size & Forecast 2018-2028, USD Million
- By Competition
- Market Share of Top Companies
- By Country
- The UAE
- Saudi Arabia
- Bahrain
- Oman
- Qatar
- Kuwait
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Key Factor Driver GCC Drilling Fluids Industry Growth by 2028
Expansion of the Allied Industries Driving Demand for Drilling Fluids in GCC Region-The rising demand for crude oil globally and the surging exploration activities of oil and gas industry in the GCC countries like Saudi Arabia, Kuwait, etc., are driving the demand for Drilling Fluids in the market. Additionally, rising onshore boring operations and expansion of offshore oil & gas fields by the countries such as Kuwait, Saudi Arabia, etc., are anticipated to further drive the demand for Drilling Fluids in the region. For instance, in 2021, Saudi Arabia’s Aramco announced the start of the development of the vast Jafurah unconventional gas field, the largest non-associated gas field in the Kingdom of Saudi Arabia. The plant is expected to initiate its production operations by 2025.
Who are the Key Players Operating in the GCC Drilling Fluids Industry?
The top companies of the GCC Drilling Fluids market ruling the industry are:
| · NewPark Resources Inc. |
| · Drill Chem Drilling Fluid Factory |
| · Scomi Group Bhd |
| · RTE Group |
| · Gumpro Drilling Fluid |
| · Baker Hughes |
| · Petrochem Performance Chemical ltd. LLC |
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the GCC Drilling Fluids Market?
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- Which geographical area dominates the GCC Drilling Fluids industry?
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