Albany, NY -- (SBWIRE) -- 06/10/2014 -- Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Drilling Waste Management Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.
Drilling process plays a vital role in oil exploration and production (E&P) activities. Drilling waste management technology is a significant part of successful drilling process and production operations. The suitable waste management application is crucial for successful drilling operations as well as for environmental protection. Ineffective waste management in drilling process can cause harmful chemicals and liquids to affect the environment. However, waste management in drilling process can offer streams of recyclable materials. Drilling waste management industry established after 1980’s with the increase in exploration and production activities.
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The waste streams produced during drilling include cuttings and drilling fluids. During waste management, these waste streams are collected then processed and handled. Further these streams are transported to disposal or recycling. Due to extensive exploration and production activities in the North America and Europe, these two regions are leading the demand for drilling waste management market. However, established oil industry in Middle East and growing E&P in Asia are driving the growth of drilling waste management market in Asia Pacific and RoW.
Worldwide growing E&P market is spurring the growth of the drilling waste management market. Similarly, the strict regulatory framework regarding waste management from governmental agencies is also booming the market. However, the setup and maintenance cost of the waste management technologies can affect the market in some areas. It is expected that, in future, fully automated systems may come up.
Weatherford International Ltd., Specialty Drilling Fluids Limited, Soli-Bond Waste Processing Services, STEP OILTOOLs, Soiltech AS, Tervita Corporation, TWMA and Secure Energy Services Inc. are some of the key players in this market.
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