According to the report, the drilling fluids market in Latin America was valued at USD 608.7 million in 2013 and is anticipated to reach USD 1,161.1 million by 2019, expanding at a CAGR of 9.63% from 2014 to 2020.
Albany, NY -- (SBWIRE) -- 12/06/2017 -- Rising offshore drilling activities coupled with a paradigm shift towards the development of shale gas and deep-sea reserves is expected to drive the drilling fluids market in Latin America from 2014 to 2020. Currently, manufacturers of drilling fluids are involved in a transition phase; they are striving to capitalize on increasing demand for drilling fluids in offshore areas of Brazil and Venezuela and onshore unconventional reserves of Argentina and Venezuela. However, the drilling fluids industry in Latin America is affected by various factors such as stringent government regulations, lack of infrastructure and rising demand for oil and gas.
This report analyzes and forecasts the drilling fluids market in Latin America in terms of revenue (USD Million) and volume (Kilo Tons) from 2012 to 2020. The report also estimates revenue and volume for major countries in Latin America such as Argentina, Brazil and Venezuela. Additionally, the report analyzes major driving and restraining factors for drilling fluids and highlights potential opportunities for the drilling fluids market in the near future. Drivers, restraints and opportunities for the drilling fluids market are recognized and articulated after conducting in-depth analysis of the oil and gas industry in Latin America. Growth of the oil and gas industry in the region is determined primarily by the government or state-owned oil and gas companies such as Petrobras (Petróleo Brasileiro S.A.), YPF (Yacimientos Petrolíferos Fiscales) and PDVSA (Petróleos de Venezuela, S.A.). Furthermore, the monopoly prevalent in the market directly affects drilling fluids companies operating in Latin America.
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Market segmentation of the study is based on product segments including water-based drilling fluids (WBFs), oil-based drilling fluids (OBFs) and synthetic drilling fluids (SBFs). It involves further analysis of sub-segments of each product type in countries in Latin America. Market revenue and volume of the drilling fluids categories mentioned above is also provided for countries, with detailed analysis of the drilling fluids market in Latin America. Water-based drilling fluids (WBFs) are further segmented into dispersed and non-dispersed types. The report is customized as per the client's requirement to provide an in-depth analysis of the drilling fluids market in Latin America with a detailed analysis of countries such as Brazil, Argentina and Venezuela. The report further offers a combined brief overview of drilling fluids with Ecuador, Colombia, Peru and Bolivia, categorized under the others segment. Additionally, the report covers entire oil and gas based application areas of drilling fluids, including onshore and offshore activities.
The report includes detailed value chain analysis of the drilling fluids sector along with the comprehensive view of major players in the drilling fluids market in Latin America. The study analyzes market competition using Porter's five forces model and describes the impact of suppliers, buyers, substitutes, new entrants and market competition. Porter's five forces model is designed based on market dynamics along with micro and macro economic factors that affect drilling fluids companies in Latin America. Market attractiveness analysis helps in estimating the rising popularity of product segments during the forecast period. The study covers market share analysis for major players operating in the drilling fluids market. Companies profiled in the report include Baker Hughes Incorporated, Halliburton Company, Newpark Resources, Inc., Schlumberger Limited, Weatherford International Limited, and Imdex Limited (AMC Oil & Gas). Company profiles comprise product portfolio, financial overview (updated based on data availability), SWOT analysis, business strategy and recent developments.
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Prices of drilling fluids are volatile in nature and change depending upon the application and types of product segments. Prices of overall drilling fluids are expected to fluctuate, leading to a squeeze in profit margins. The study presents a comprehensive assessment of stakeholder strategies and winning imperatives for them by segmenting the drilling fluids market as below:
Latin America Drilling Fluids Market: Product Segment Analysis
Latin America Drilling Fluids Market: Technology Analysis
Latin America Drilling Fluids Market: Country-wise Analysis
Others (Rest of Latin America)