This Weighing Agents market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Weighing Agents market.
Weighing Agents Market: Introduction
Weighing agents are the additives which are added to the drilling fluids to increase the fluid density, to control the formation pressure, to inhibit the formation caving and ease the pulling of dry pipe. Weighing agents are also under the name of weighting material or weighting material. Weighing agents are finely powdered solid. Simply put, the use of weighing agent is to overbalance the fluid pressure during drilling operation which helps in preventing the fluid from exerting the hydrostatic pressure on the exposed oil & gas reserves. There are different types of materials such as barite, hematite, calcium carbonate, siderite, Ilmenite, etc. which can be used as weighing agents. Weighing agent is used with all invert emulsion and water base drilling fluids.
Weighing agents are classified according to the ISO & API standards. Specific gravity is one of the important characteristic which is considered during the selection of weighing agent. Dissolved salts in brine solutions such as calcium bromide are often confused as weighing agent which is not correct. Barite is one of the most commonly used weighing agents. In the recent years manufacturers are focused on the development of weighing agents through other material.
Weighing Agents Market: Dynamics
Increasing oil & gas exploration activities will act as main driving factor responsible for the growth of weighing agents market. Depletion of onshore oil & gas reserves has forced the oil & gas industry to shift towards deep water reserves, which in turn will fuel the demand for weighing agent owing to increasing use of drilling chemicals. Also the increased shale gas and other conventional gas activities will boost the demand for drilling fluids, owing to which there will be up surge in demand for weighing agents. Increasing drilling and exploration, increasing number of oil rigs will drive the growth of weighing agents market. Rise in the global capital expenditure on upstream activities will be positively impacting the global weighing agents market. Increasing focus on product innovation and the development of new products such silicone based weighing agents is estimated to be positive sign for the global weighing agents market. Growing environmental concerns regarding the disposable of drilling fluids and geo-political conflicts in some of important oil producing countries will act as restraining factors for weighing agents market.
Weighing Agents Market: Regional Outlook
Predominance of oil & gas industry in Middle East region and increasing oil & gas exploration activities in Middle East and Africa, is estimated to make Middle East and Africa a promising market for weighing agents. There is significant presence of oil & gas industry in North America region, depletion of onshore oil & gas reserves will increase the shale gas exploration activities in North America region, owing to which North America is estimated to be prominent market. Offshore as well as onshore drilling & exploration activities are estimated to increase in Asia Pacific region, also the growing presence of oil & gas industry will make Asia Pacific a potential market for weighing agents. Increasing oil & gas exploration activities in the regions such as Latin America and Europe will collectively make Europe and Latin America a significant market for weighing agents.
Weighing Agents Market: Key Participants
Examples of some of the market participants operating in the global weighing agents market are:
Baroid Industrial Drilling Products, Schlumberger Limited, Elkem ASA, Halliburton, Global Drilling Fluids and Chemicals Limited, Baker Hughes, Carmeuse, Imdex Limited and Di-Corp among others.
The Weighing agents market research report presents a comprehensive assessment of the Weighing agents market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Weighing agents market research report provides analysis and information according to weighing agents market segments such as geographies, application and industry.
The report covers exhaustive analysis on,
- Weighing agents Market Segments
- Weighing agents Market Dynamics
- Weighing agents Market Size
- Weighing agents Supply & Demand Scenario
- Current Trends/Issues/Challenges in Weighing agents market
- Competition & Companies involved in Weighing agents market
- Technology used in Weighing agents Market
- Value Chain of Weighing agents 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)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Weighing agents 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 report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with weighing agents market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Weighing agents market segments and geographies.
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Weighing Agents Market: Segmentation
The global weighing agents market can be segmented on the basis of its product type, application and end-use.
The global weighing agents market is segmented on the basis of product type:
- Barite API grade
- Attapulgite Clay
- Bentonite API Grade
- Marble Chips
- Calcium Carbonate
The global weighing agents market is segmented on the basis of application:
- Completion Fluids
- The global weighing agents market is segmented on the basis of end use:
- Detailed overview of parent market
- Changing Weighing agents market dynamics in the industry
- In-depth Weighing agents market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape in Weighing agents market
- Strategies of key players and products offered in Weighing agents market
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Weighing agents market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Weighing Agents Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Weighing Agents Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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In addition to up-to-date market figures and customized of the Weighing Agents Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.