Deerfield Beach, FL -- (SBWIRE) -- 09/12/2016 -- Drilling and completion fluids are most crucial for carrying out any drilling and exploration activity, and have large application in onshore as well as offshore gas & oil activities. The fluids is used for the purpose of suspending cuttings, controlling pressure, providing buoyancy, stabilizing exposed rock and cooling & lubricating. Drilling and completion fluids apply different types of fluids, such as water-based, oil-based, synthetic-based systems, and the choice of the base fluid depends on the cost, performance level, and environmental factors.

The Asia-Pacific drilling and completion fluids market is driven by rapid growing drilling activities coupled with increasing volumes of oil & gas production. Concerns regarding environmental impact of drilling fluids along with strict government regulations is a key restraining factor that is expected to hinder the growth of the market.

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Development of advanced drilling fluid chemicals and focus on deep & ultra-deepwater reserves are key factors that would offer abundant growth opportunities in the market.

Asia-Pacific drilling and completion fluids market is segmented on the basis of types, application and countries. On the basis of types, the market is segmented into water-based, synthetic-based, oil-based and others. On the basis of applications, the market is segmented into on-shore and off-shore. On the basis of countries, the market is segmented into China, Australia, Thailand, India and Indonesia. Each of these regions is segmented on the basis of types and application.

Prominent market players operating in this market are M-I Swaco, Baker Hughes Inc., Halliburton, Newpark Resources Inc., Tetra Technologies Inc., National Oilwell Varco, and Scomi Group Bhd.

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