USD 351.2 million
Fluid Loss Additives Market Size, Share, Growth Analysis, By Type(Synthetic, Natural, and Synthetically Modified Natural), By Application(Drilling Fluids, and Cement Slurry), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2429 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
67
Fluid Loss Additives Market Insights
Global Fluid Loss Additives Market size was valued at USD 351.2 million in 2022 and is poised to grow from USD 362.46 million in 2023 to USD 466.33 million by 2031, growing at a CAGR of 3.2% in the forecast period (2024-2031).
Fluid loss additives are chemicals used to control and minimize the loss of specific fluids during various oilfield applications. Growing demand for energy from a rising population has led to increased oil & gas exploration activity thereby driving demand for fluid loss additives as well. High investments in the oil & gas industry coupled with the adoption of novel drilling technologies and practices are also forecasted to uplift sales of fluid loss additives in the long run. Rising shale gas exploration activity around the world to improve the availability of natural gas is also estimated to benefit fluid loss additives market growth across the forecast period and beyond. A high focus on safety and environmental conservation in the oil & gas industry is also anticipated to favor demand for fluid loss additives on a global level going forward.
On the contrary, the rise in popularity of electric vehicles and growing use of alternative fuels around the world are predicted to slow down the global fluid loss additives market growth in the future. Companies need to invest in R&D to diversify their application scope and stay relevant over the coming years to overcome the restraints.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Drilling Fluids
Fastest Growth
Cement Slurry
Growth Rate
3.2% CAGR
Global Fluid Loss Additives Market ($ Bn)
Country Share for North America Region (%)
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Fluid Loss Additives Market Segmental Analysis
The global fluid loss additives market is segmented based on type, application, and region. Based on type, the market is bifurcated into synthetic, natural, and synthetically modified natural. In terms of application, the market is segmented into drilling fluids and cement slurry. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Type
Synthetically modified natural additives account for a prominent share of the global marketplace at present. The optimal performance of this type of additive in extreme conditions and high temperatures allows them to account for a dominant share of the market. This type of additive also combines the properties and capabilities of synthetic as well as natural additives to provide the best of both worlds thereby emerging as a favorite choice for most companies around the world.
Meanwhile, the demand for completely natural additives is forecasted to soar high across the forecast period owing to rising focus on sustainability. The imposition of stringent regulations banning the use of synthetic additives and chemicals to conserve the environment is predicted to favor the demand for natural fluid loss additives over the coming years.
Analysis by Application
Drilling fluid applications account for a dominant share of the global fluid loss additives market. Increasing use of fluid loss additives in drilling fluids to ensure proper drilling and cementing operations in the oil & gas industry allows this segment to account for a prominent share of the marketplace. The addition of these additives to drilling fluids also improves the efficiency of the drilling process. A robust increase in drilling activity around the world is also estimated to augment the growth of this segment.
Fluid loss additives are also added to cement slurries to increase their bond strength and strengthen its overall structure. These additives are also added to cement slurries to minimize fluid loss that can reduce the profitability of oil & gas operations as well as increase the risk of accidents to a certain extent. Growing focus on the optimization of cementing operations in the oil & gas industry is forecasted to boost demand for fluid loss additives in cement slurries going forward.
Global Fluid Loss Additives Market By Application
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Fluid Loss Additives Market Regional Insights
North America is projected to account for a significant share of the global fluid loss additives market owing to the high use of oil & gas chemicals in this region. Increasing investments in shale gas exploration and expanding the oil & gas industry are also estimated to bolster market growth in this region. The rising adoption of advanced drilling technologies is also estimated to favor the demand for fluid loss additives in the North American region going forward. Canada and the United States are slated to be the country's leading fluid loss additives market growth in this region.
Rapid industrialization and urbanization in the Asia Pacific region are boosting demand for energy in this region and this is also estimated to bolster fluid loss additives sales in the oil & gas industry over the coming years. Increasing investments in new exploration activities in this region are also forecasted to favor fluid loss additives market growth over the coming years. India and China are slated to be top markets for fluid loss additives companies looking to make a mark in this region. Robust chemical manufacturing activity in this region also creates an opportune scenario for fluid loss additives market development in the future.
Global Fluid Loss Additives Market By Region
- Largest
- Fastest
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Fluid Loss Additives Market Dynamics
Drivers
Rising Investments in the Oil & Gas Industry
- Growing demand for fossil fuels has led to increased investments in the oil & gas industry, which in turn has resulted in increased drilling operations around the world thereby driving fluid loss additives sales as well.
Adoption of Enhanced Oil Recovery Techniques
- Oil & gas companies around the world are focusing on maximizing the efficiency of their operations, which has led to an increased adoption of enhanced oil recovery (EOR) technologies and techniques around the world. These EOR techniques promote the use of fluid loss additives and thereby could boost market growth going forward.
Restraints
Electric Vehicles
- Increasing adoption of electric vehicles is hurting the demand for fossil fuels and this could result in reduced oil & gas exploration activity, which in turn, could slow down fluid loss additives market growth in the future.
Volatile Crude Oil Prices
- Crude oil prices are constantly fluctuating, and they depend on many factors such as changing global trade conditions and evolving oil supply across the world. These volatile crude oil prices could negatively impact the sales of fluid loss additives over the coming years.
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Fluid Loss Additives Market Competitive Landscape
Fluid loss additive suppliers should focus on maximizing their sales and revenue generation potential to stay competitive in this marketplace. Companies can focus on collaborations and partnerships with renowned oil & gas companies to improve their business scope and expand their global presence. Market players should focus on developing sustainable additives that have a minimal environmental impact to comply with changing environmental standards. Fluid loss additive manufacturers should also focus on incorporating sustainability in their manufacturing process to improve their business potential on a global scale going forward.
Top Player’s Company Profiles
- Global Drilling Fluids & Chemicals Limited.
- Clariant
- Newpark Resources Inc.
- Ecolab Inc.
- Schlumberger Limited
- Nouryan
- Croda International
- BASF SE
- Halliburton
- Schlumberger Limited
- Chevron Phillips Chemical Company
- Solvay
Recent Developments
- Italmatch Chemicals Group, a leading supplier of specialty chemicals, announced the addition of a new fluid loss additive to its product portfolio in August 2023. The Aubin CFL-600 was launched as a cement additive to eliminate fluid loss in oilfield applications.
- NanoMalaysia Bhd, a renowned business service provider based in Malaysia, announced the launch of its new fluid loss additive back in November 2022. Synergy 10AS Nano was an additive that was specially launched for drilling applications in the oil & gas industry.
Fluid Loss Additives Key Market Trends
- Growing Demand for Customized Additives: Demand for custom fluid loss additives is surging across the world as oil & gas companies focus on maximizing their operational efficiency with minimal environmental impact to comply with stringent sustainability mandates. Developments in nanotechnology could also provide new opportunities for fluid loss additives manufacturers in the long run.
Fluid Loss Additives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, increasing investments in the oil & gas industry coupled with rising exploration activities are projected to bolster demand for fluid loss additives on a global level going forward. The expanding world population and growing shale gas exploration activities are also estimated to uplift sales of fluid loss additives going forward. Increasing complications of drilling operations will also favor fluid loss additives demand across the forecast period. However, rising oil costs and the growing adoption of electric vehicles are estimated to hinder fluid loss additives market growth in the future. North America is estimated to account for a dominant share of the global marketplace owing to rising exploration activities and the adoption of advanced drilling technologies. Fluid loss additives manufacturers should focus on the development of custom fluid loss additives to maximize their business and stay competitive in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 351.2 million |
| Market size value in 2031 | USD 466.33 million |
| Growth Rate | 3.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fluid Loss Additives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fluid Loss Additives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fluid Loss Additives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fluid Loss Additives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fluid Loss Additives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fluid Loss Additives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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