Albany, NY -- (SBWIRE) -- 12/17/2014 -- Transparency Market Research has released a new market report titled "Drilling Fluids Waste Management Market: Latin America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the market for drilling fluids waste management in Latin America was valued at USD 413.4 million in 2013 and is anticipated to reach USD 945.3 million by 2020, growing at a CAGR of 12.6% from 2014 to 2020.

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Key service segments analyzed in this study include solid control, treatment & disposal and containment & handling. Treatment & disposal was the largest segment in terms of revenue, accounting for more than 35% of the market share in 2013. The segment is witnessing increased demand due to stringent environmental regulations for the treatment of drilling waste to attain the permissible level prior to its disposal. The drilling fluids waste management market in Latin America has been segmented into onshore and offshore, based on applications. Offshore segment dominated the market, constituting over 55% of market share in 2013. Offshore segment is estimated to exhibit significant growth rate as compared to the onshore segment, due to increased drilling activities in Brazil.

Brazil dominated the drilling fluids waste management market in Latin America in 2013. Factors such as increasing investments in deep and ultra-deep water reserves, primarily in Brazil, have contributed to the overall market growth. Brazil relies on offshore reserves for most of its oil production. Impending governmental supportive schemes in Argentina for shale gas exploration and production are projected to boost the drilling fluids market in the near future. This, in turn, would propel the drilling fluids waste management market.

Key players in the drilling fluids waste management market in Latin America include Schlumberger Limited, Halliburton Company, Baker Hughes Incorporated and Weatherford International Limited.

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Latin America Drilling Fluids Waste Management Market: Service Segment Analysis
Solid control
Treatment & disposal
Containment & handling
Latin America Drilling Fluids Waste Management Market: Application Analysis
Offshore
Onshore
Latin America Drilling Fluids Waste Management Market: Country wise Analysis
Argentina
Brazil
Venezuela
Others (Rest of Latin America)

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