Spacer Fluid Market – United States Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Application (Onshore and Offshore), By Type (Water-Based Drilling Fluid Environment and Oil-Based Drilling Fluid Environment), and By Region
The United States spacer fluid market is anticipated to grow at an impressive CAGR for the forecast period, 2023-2027. The rise in investments in exploration, production, drilling activities, and increasing energy requirements, along with the adoption of advanced drilling techniques by market players, are expected to act as key factors driving the growth of the United States spacer fluid market through the forecast period. Also, the presence of abundant tight oil and unconventional natural resources is expected to create growth opportunities for the United States spacer fluid market.
High Demand for Horizontal Drilling Technique Drives the Market Growth
Oil & gas wellbores are growing and driving the demand for advanced exploration and drilling methods to satisfy the country's growing energy requirements. The shift from vertical to horizontal drilling methods is fueling the drilled footage per well. Most newly drilled wells are hydraulically fractured and horizontally drilled to obtain higher productivity. Increasing lateral lengths of unconventional wells in the country are expected to fuel the United States spacer fluid market. Average crude oil production is increasing, and the search for methods to improve the cost-effectiveness and productivity of wells is influencing the market demand. Tight oil production in New Mexico and West Texas is the primary driver of the growing United States spacer fluid market. An increase in drilling activities and the rise in efforts of the leading authorities and market players to boost oil & gas production are expected to pave the way for market growth for the next five years.
Increasing Energy Requirement Fuels the Market Demand
Rapid urbanization and industrialization and ongoing manufacturing and production activities are accelerating energy requirements. Exploration activities are being carried out at both offshore and onshore locations to meet the surging energy production. The United States produced oil 16476 thousand barrels of per day and had total oil-proved reserves of 30.4 million barrels in 2020. An increase in upstream investments acts as a positive factor in recovering crude oil prices. Market players are actively spending on oil exploration and production activities to boost production from the existing reserves. Also, drilling from new wells has increased exponentially, which can be observed from the number of active wells present in the country. After the drilling operation, cementing of the well is done properly as the cementing and drilling fluid needs to be separated from each other.
With the growing exploration activities and discovery of new good reserves, the United States spacer fluid market is expected to witness massive demand for the next five years.
A surge in Investments in Untapped Oil & Gas Reserves Supports the Market Growth
The demand for conventional energy sources is overgrowing in the country as they are heavily utilized in transportation, manufacturing and power generation, and other end-use industries. The rise in the demand for unconventional energy sources such as tight gas, shale oil, and coal bed methane is expected to be a significant factor expected to propel the need to explore new oil & gas reserves. Oil, gas, and other hydrocarbons are still considered one of the most efficient and reliable energy sources, attracting companies to invest in upgrading existing infrastructure and finding innovative solutions to advance the well-cementing process. Therefore, the increasing focus to recover from untapped oil & gas reserves is expected to accelerate the growth of the United States spacer fluid market in the forecast period.
Market Segmentation
The United States spacer fluid market is segmented into application, type, regional distribution, and company. Based on application, the market is divided into onshore and offshore. Based on type, the market is divided into water-based drilling fluid environments and oil-based drilling fluid environments. To analyze the market based on the region, the United States Spacer Fluid market is studied in major regions namely the southern region, western region, mid-western region, and north-eastern region.
Market Players
AubinGroup, Baker Hughes Company, BASF SE, Chevron Phillips Chemical Company, Croda International Plc., Halliburton Company, Impact Fluid Solutions, M & D Industries of LA Inc., Schlumberger Limited, and Trican Well Service Ltd., are the major players operating in the United States spacer fluid market.
Report Scope:
In this report, the United States spacer fluid market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the United States spacer fluid market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
High Demand for Horizontal Drilling Technique Drives the Market Growth
Oil & gas wellbores are growing and driving the demand for advanced exploration and drilling methods to satisfy the country's growing energy requirements. The shift from vertical to horizontal drilling methods is fueling the drilled footage per well. Most newly drilled wells are hydraulically fractured and horizontally drilled to obtain higher productivity. Increasing lateral lengths of unconventional wells in the country are expected to fuel the United States spacer fluid market. Average crude oil production is increasing, and the search for methods to improve the cost-effectiveness and productivity of wells is influencing the market demand. Tight oil production in New Mexico and West Texas is the primary driver of the growing United States spacer fluid market. An increase in drilling activities and the rise in efforts of the leading authorities and market players to boost oil & gas production are expected to pave the way for market growth for the next five years.
Increasing Energy Requirement Fuels the Market Demand
Rapid urbanization and industrialization and ongoing manufacturing and production activities are accelerating energy requirements. Exploration activities are being carried out at both offshore and onshore locations to meet the surging energy production. The United States produced oil 16476 thousand barrels of per day and had total oil-proved reserves of 30.4 million barrels in 2020. An increase in upstream investments acts as a positive factor in recovering crude oil prices. Market players are actively spending on oil exploration and production activities to boost production from the existing reserves. Also, drilling from new wells has increased exponentially, which can be observed from the number of active wells present in the country. After the drilling operation, cementing of the well is done properly as the cementing and drilling fluid needs to be separated from each other.
With the growing exploration activities and discovery of new good reserves, the United States spacer fluid market is expected to witness massive demand for the next five years.
A surge in Investments in Untapped Oil & Gas Reserves Supports the Market Growth
The demand for conventional energy sources is overgrowing in the country as they are heavily utilized in transportation, manufacturing and power generation, and other end-use industries. The rise in the demand for unconventional energy sources such as tight gas, shale oil, and coal bed methane is expected to be a significant factor expected to propel the need to explore new oil & gas reserves. Oil, gas, and other hydrocarbons are still considered one of the most efficient and reliable energy sources, attracting companies to invest in upgrading existing infrastructure and finding innovative solutions to advance the well-cementing process. Therefore, the increasing focus to recover from untapped oil & gas reserves is expected to accelerate the growth of the United States spacer fluid market in the forecast period.
Market Segmentation
The United States spacer fluid market is segmented into application, type, regional distribution, and company. Based on application, the market is divided into onshore and offshore. Based on type, the market is divided into water-based drilling fluid environments and oil-based drilling fluid environments. To analyze the market based on the region, the United States Spacer Fluid market is studied in major regions namely the southern region, western region, mid-western region, and north-eastern region.
Market Players
AubinGroup, Baker Hughes Company, BASF SE, Chevron Phillips Chemical Company, Croda International Plc., Halliburton Company, Impact Fluid Solutions, M & D Industries of LA Inc., Schlumberger Limited, and Trican Well Service Ltd., are the major players operating in the United States spacer fluid market.
Report Scope:
In this report, the United States spacer fluid market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- United States Spacer Fluid Market, By Application:
- Onshore
- Offshore
- United States Spacer Fluid Market, By Type:
- Water-Based Drilling Fluid Environment
- Oil-Based Drilling Fluid Environment
- United States Spacer Fluid Market, By Region:
- South
- West
- Mid-West
- North-East
Company Profiles: Detailed analysis of the major companies present in the United States spacer fluid market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW
2. RESEARCH METHODOLOGY
3. IMPACT OF COVID-19 ON UNITED STATES SPACER FLUID MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
5.1. Brand Awareness
5.2. Factors Considered while Selecting Supplier
5.3. Key Satisfaction Level
5.4. Major Challenges Faced
6. UNITED STATES SPACER FLUID MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Application (Onshore and Offshore)
6.2.2. By Type (Water-Based Drilling Fluid Environment and Oil-Based Drilling Fluid Environment)
6.2.3. By Region
6.2.4. By Company (2021)
6.3. Product Market Map
7. UNITED STATES ONSHORE SPACER FLUID MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Region
8. UNITED STATES OFFSHORE SPACER FLUID MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Region
9. MARKET DYNAMICS
9.1. Drivers
9.2. Challenges
10. MARKET TRENDS & DEVELOPMENTS
11. POLICY & REGULATOR LANDSCAPE
12. UNITED STATES ECONOMIC PROFILE
13. COMPANY PROFILES
13.1. AubinGroup
13.2. Baker Hughes Company
13.3. BASF SE
13.4. Chevron Phillips Chemical Company
13.5. Croda International Plc.
13.6. Halliburton Company
13.7. Impact Fluid Solutions
13.8. M & D Industries of LA Inc.
13.9. Schlumberger Limited
13.10. Trican Well Service Ltd.
14. STRATEGIC RECOMMENDATIONS
2. RESEARCH METHODOLOGY
3. IMPACT OF COVID-19 ON UNITED STATES SPACER FLUID MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
5.1. Brand Awareness
5.2. Factors Considered while Selecting Supplier
5.3. Key Satisfaction Level
5.4. Major Challenges Faced
6. UNITED STATES SPACER FLUID MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Application (Onshore and Offshore)
6.2.2. By Type (Water-Based Drilling Fluid Environment and Oil-Based Drilling Fluid Environment)
6.2.3. By Region
6.2.4. By Company (2021)
6.3. Product Market Map
7. UNITED STATES ONSHORE SPACER FLUID MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Region
8. UNITED STATES OFFSHORE SPACER FLUID MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Region
9. MARKET DYNAMICS
9.1. Drivers
9.2. Challenges
10. MARKET TRENDS & DEVELOPMENTS
11. POLICY & REGULATOR LANDSCAPE
12. UNITED STATES ECONOMIC PROFILE
13. COMPANY PROFILES
13.1. AubinGroup
13.2. Baker Hughes Company
13.3. BASF SE
13.4. Chevron Phillips Chemical Company
13.5. Croda International Plc.
13.6. Halliburton Company
13.7. Impact Fluid Solutions
13.8. M & D Industries of LA Inc.
13.9. Schlumberger Limited
13.10. Trican Well Service Ltd.
14. STRATEGIC RECOMMENDATIONS
