Formate Brines Market

Market Dynamics of Formate Brines Market

Increasing penetration in oil & gas industry and other applications

Wide range of useful characteristics of formate brines are driving the demand for formate brines in oil & gas drilling fluids applications. Environmentally safe formate brines are gaining attention from the oil & gas players. Oil & gas industry is going through a tough time due to global competition, therefore sustainable solutions of drilling along with cost saving is preferred by oil and gas players. Favorable properties of formate brines and higher compatibility are driving its demand from various applications including drilling fluid, completion fluid. With the sustained exploration activities in new and existing oilfields and wells, the demand of formate brines is expected to gain traction in the long run.

Changing waste management laws and standards all over the globe

European regulations by REACH on the chemicals used in drilling in European countries need to be taken into accounting by the oil & gas players. Additionally, increasing regulations on chemical disposal globally may impact the potential growth of the formate brines market. However, new developments in the brine market is expected to counter the impacts of environmental regulations by developing improved and ecofriendly formate brines.

Formate brines market trends: Innovation, Research and New Product Developments

Leading manufacturing companies of formate brines are developing and testing new formate brine combinations for various applications including drilling fluids, completion fluids, cooling liquids, deicing agents and others. Expansions are followed the growth in demand for formate brines, in the recent years. Key players are focusing on expanding their capacities along with the expansion of their geographical footprints, through a proper distribution channel.

Formate Brines Market: Regional Outlook

North American market leads in formate brine market with significant oil & gas exploration and presence of snow fall in many states. Increasing preference for environmentally safe options for drilling fluids in North America and Europe can be attributed to their large market share globally. Europe follows North America in terms of demand for formate brines. Increasing acceptance of formate brines from deicing applications is expected to boost its demand in European countries. Asia Pacific follows Europe in terms of demand for demand for formate brines. Rising Exploration activities in the region along with the large industrial base is expected to push the formate brine market in the coming years. Middle East & Africa accounts for a significant share of the global formate brine market, due to large number of drilling activities in the region. Latin America holds a smaller share compared to other regions, however significant growth in the demand is expected from the region with the increase in the applications of formate brines in various industries.

Global Formate brines Market Participants

Some of the market participants identified across the value chain of global Formate brines market are:

• American Elements
• CABOT
• Perstorp Holding AB
• ADDCON
• GELEST, INC.
• TOMIYAMA PURE CHEMICAL INDUSTRIES
• Dynalene, Inc.
• Global Drilling Fluids and ChemicalsLimited
• Central Drug House.
• Honeywell International Inc.
• TETRA Technologies, Inc.
• ZIBO SHUANGCHEN CHEMICAL CO., LTD
• ProChem, Inc
• Zibo Evergreen Chemical Company
• ICL
• FENG DA Chemical Corp.

The global market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The global market research report provides analysis and information according to market segments such as geographies, application and industry.

The global formate brines market report covers exhaustive analysis on:

• Formate Brines Market Segments
• Formate Brines Market Dynamics
• Formate Brines Market Size
• Formate Brines Supply & Demand
• Formate Brines Current Trends/Issues/Challenges
• Formate Brines Competition & Companies Involved
• Formate Brines Technology
• Formate Brines Value Chain

The Global Formate Brines Market: Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Argentina, Chile, Peru)
• Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
• Eastern Europe (Russia, Poland, CIS)
• Asia-Pacific (China, India, ASEAN, South Korea)
• Japan
• Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

The global market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The global market report also maps the qualitative impact of various market factors on market segments and geographies.