The clear brine fluids market volume stood at 1, 000 kilo tons in 2013. It will grow at around 10% CAGR from 2014 to 2020 (forecast period). Market revenues are likely to exceed USD 2 billion by 2020. Energy demand furthers drilling operations in Russia, Egypt, the Gulf of Mexico, China, and the U.S. This, subsequently, raises the demand for clear brine fluids.
Clear brine fluids act as alternatives to conventional drilling ones. Furthermore, rising preference for shale gas, tight gas, and CBM – Coal Bed Methane in China and the U.S. would fuel the clear brine fluids market in the forthcoming years.
For Market Research Report on “Clear Brine Fluids Market” Visit -http://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
The market would also benefit from spending on deep water exploration, especially in the Golden Triangle (deep water oil and gas resources covering offshore West Africa, offshore Brazil, and U.S. Gulf of Mexico). Asia Pacific is an emergent region for deep water drilling. It attracted about 10% of the global deep water drilling investments in 2012.
Certain factors may hinder the clear brine fluids market. Brine fluids contaminate ground water. Therefore, their disposal is subject to regulatory guidelines. Insufficient potassium chloride supply leads to rise in the prices of clear brine fluids. Often, trade agreements get adversely affected by political uncertainties and civil crisis. The Middle East and North Africa face such scenarios, deterring regional oil & gas exploration.
The clear brine fluids market is split on the basis of products and regions. Products are potassium chloride, sodium chloride, calcium chloride, calcium bromide, sodium bromide, potassium bromide, and others. Potassium chloride, with more than 20% shares, dominated the market in 2013. It will experience the fastest growth in the next six years.
Calcium chloride is projected to be worth USD 70 million by 2020. Chlorides and bromides have a promising future owing to their multiple applications. The chief applications are deep water wells, high pressure oil wells, and oil sands. North America (with respect to regions), capturing over 62% volumes, was the leader in 2013. It would be propelled by shale gas explorations in the U.S.
Asia Pacific will grow at about 10% CAGR from 2014 to 2020. Oil & gas explorations in India and China would be the main regional contributor. The Middle East is estimated to grow at the fastest pace. The worldwide clear brine fluids market is greatly consolidated and has participants in Albemarle Corporation, Baker Hughes Inc., Halliburton Corporation, and Zirax Ltd.
Information Source: Grand View Research