The global drilling and completion fluids market was valued at $8.6 billion in 2022 and is projected to reach $12.9 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032. The International Energy Agency projected a 50% to 85% decline in oil and gas revenues in 2020, impacting the drilling and completion fluid market. The construction industry, which accounted for a significant share of drilling fluid consumption globally, experienced halted construction due to the pandemic, resulting in a decline in drilling fluid demand. The rapid increase in demand for oil has led to an increase in oil production, which increases the use of drilling and completion fluids. The report provides a detailed analysis of these key players in the global drilling and completion fluids market.

Source: The Bubble January 09, 2024 15:03 UTC