Albany, NY -- (SBWIRE) -- 03/11/2015 -- Clear Brine Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

According to a new report published by Transparency Market Research "Clear Brine Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" the global clear brine fluids market was valued at USD 932.4 million in 2013 and is expected to reach USD 1,972.6 million in 2020, growing at a CAGR of 11.4% between 2014 and 2020. In terms of volume, the global demand for clear brine fluids was estimated at 1,012.4 kilo tons in 2013.

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Rising number of global drilling activities is expected to be one of the major factors boosting the demand for drilling and completion fluids such as clear brine fluids. The demand for clear brine fluids is directly proportional to the number of drilling activities in the oil & gas industry. Additionally, increasing demand for conventional and non-conventional natural resources globally is estimated to lead to a higher number of drilling activities. This, in turn, is likely to drive the market for clear brine fluids during the forecast period. However, fluctuation in the prices of raw materials such as potassium chloride is expected to hamper the growth of the market. Increasing exploration of shale gas, CBM and other unconventional resources is anticipated to boost demand for drilling activities. This is likely to provide new opportunities for the growth of the clear brine fluids market.

Potassium chloride clear brine fluids recorded the highest demand for clear brine fluids, accounting for over 24% of the market share in 2013. Additionally, it is anticipated to be the fastest growing product segment over the forecast period. Potassium chloride serves as an economical source of potassium for inhibitive water-based completion and drilling fluids. Demand for other brine fluids has also been high due to their wide consumption in the formulation of fluid systems for controlling formation pressures. Clear brine fluids such as calcium chloride are widely used in the oil & gas industry, wherein the inhibitive properties of calcium fluid are required to prevent the hydration and migration of swelling clays.

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Demand for clear brine fluids was significantly high in North America, which accounted for over 65% of the global demand in 2013. North America, including the U.S. Gulf of Mexico, had approximately 1,783 trillion cubic feet of technical recoverable shale gas by the end of 2012. This huge reserve is expected to promote its extraction, thereby promoting the use of drilling and completion fluids such as clear brine fluids over the next few years. Asia Pacific was the second largest segment in the clear brine fluids market in 2013. It is expected to be the fastest growing segment during the forecast period, with China becoming one of the most attractive markets for investments for various global Energy & Production (E&P) companies.

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