Albany, NY -- (SBWIRE) -- 07/06/2015 -- The Latin America drilling fluids waste management market is poised to grow from US$413.4 million in 2013 to US$945.3 million in 2020, at a strong CAGR of 12.6% from 2014 to 2020. The report is titled "Latin America Drilling Fluids Waste Management Market : Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" and is available for sale on the company website. The drilling fluids waste management market in Latin America is segmented on the basis of service, application, and country. The key services included in drilling fluids waste management are treatment and disposal, solid control, and containment and handling. Drilling fluids waste management finds application in both offshore and onshore reserves. The major regions analyzed in the Latin American drilling fluids waste management market are Brazil, Argentina, Venezuela, and the rest of Latin America.

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Geographically, the regional market for drilling fluids waste management is dominated by Brazil and the nation had the largest share of the Latin America market in 2013. Most of Brazil's oil production depends on offshore reserves. The rise in investments in deep as well as ultra-deep water reserves has contributed massively to the growth of the Brazil drilling fluids waste management market. Argentina is predicted to become a strong competitor in the Latin America market owing to impending schemes by the government aimed at the exploration and production of shale gas. By service, the drilling fluids waste management market in Latin America is dominated by treatment and disposal. This segment held over 35% of the total revenue in 2013 owing to strict environmental regulations targeted at the proper treatment of drilling waste before its disposal. In terms of application, the drilling fluids waste management market was led by the offshore segment, which accounted for more than 55% of the market in 2013.

Factors that drive the drilling fluids waste management market in Latin America include a rise in exploration and production activities in the region, toxic content of drilling fluids that affect flora and fauna, and issuance of strict regulations by the government towards proper management of waste. In contrast, operational challenges in line with government requirements is a key factor hindering the growth of the drilling fluids waste management market.The research report identifies and evaluates the major contributors of the drilling fluids waste management market in Latin America. Schlumberger Limited, Halliburton Company, National Oilwell Varco, Weatherford International Ltd., Imdex Limited, and Baker Hughes Incorporated are companies that have been profiled in the report together with crucial data on company and financial overview, product portfolio, recent developments, business strategies, and SWOT analysis.

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The Latin America drilling fluids waste management market is rather consolidated in nature, with a handful of key companies accounting for a majority share of the market. These companies have been providing services related to drilling fluids waste management for many years and their established brand helps them attract profitable contracts. Services such as drilling fluids waste disposal and handling are provided to exploration and production companies and the prominent players are known for their innovative turnkey solutions.

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