In terms of value, the Global Fluids Loss Additives Market reached USD 298 million in 2018 and is expected to exhibit a CAGR of over 3.3% during the forecast period, 2019–2025. The demand for fluid loss additives is increasing in drilling operations and well repairing across the globe, particularly in North America. The demand is increasing as it reduces the loss of petroleum derivatives during the drilling operation and fluid transportation.
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Newpark Resources Inc
Global Drilling Fluids and Chemicals Limited
The Fluid Loss Additives Market has been segmented based on material type, product type, application, and region.
By material type, the global fluids loss additives market has been segregated into bentonite, barite, polyanionic cellulose (PAC), polyacrylamide (PAM), calcium carbonate, hydroxyethyl cellulose (HEC), latex, and others. Among these, the PAC is expected to the dominant segment of the global fluid loss additives market as it has a high degree of carboxymethyl substitution that imparts viscosity to the fluids. Moreover, it comprises lesser NaCl residual than carboxymethyl cellulose leading to less cation contamination.
The product types covered under the scope of the global fluids loss additives market are water-soluble and water-insoluble additives. The water-soluble additives is expected to be the dominant segment and is further classified into vinylinic-based polymers, natural polymers, cellulosics, and others. Whereas water-insoluble are classified into polymer resins and others. Water-insoluble materials help to reduce the permeable zone that develops on filter cake. Bentonite is an example of water-insoluble polymer resin.
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The application segments of the global fluids loss additives market are drilling fluids, cement slurries, fracturing fluids, and completion fluids. The drilling fluids was the dominant segment of the global fluids loss additives market followed by cement slurries. The surge in the demand for drilling fluids is attributed to their growing use in light and heavy intervention operations that are performed during well maintenance, replacement, or repair. The drilling fluids segment, on the basis of materials, is further categorized into water-based muds (WBM), oil-based muds (OBM), and synthetic-based muds (SBM), where WBM is most commonly used in the well intervention process.
The global fluids loss additives market has been analyzed for five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
North America held the largest market share in 2018 and is expected to register the highest CAGR during the review period due to the high production of petroleum derivatives in the region. Europe held a prominent market share in 2018, led by the UK, Italy, and France. Europe is followed by Asia-Pacific due to the expanding oil & gas industry. The regional players have increased the investments in the oil & gas industries—20% more as compared to 2018. The Latin American market is expected to witness stagnant growth during the forecast period.
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