June 24, 2019 - 8:30 AM EDT
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Global Oilwell Spacer Fluids Market 2019-2023| 6% CAGR Projection over the Next Five Years | Technavio

LONDON

The global oilwell spacer fluids market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190624005261/en/

Technavio has published a new market research report on the global oilwell spacer fluids market from 2019-2023. (Graphic: Business Wire)

Technavio has published a new market research report on the global oilwell spacer fluids market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global oilwell spacer fluids market is the increasing active rig count. Oil and gas E&P activities are on the rise globally due to the recovery in crude oil prices. Companies in the oil and gas industry are increasingly investing in the E&P projects to enhance production from oil and gas reservoirs. In addition, oil and gas companies are signing joint agreements to increase investments to improve the overall oil and gas production. Thus, the recovery in crude oil prices has led to an increase in the number of rigs globally, which in turn will boost the demand for oilwell spacer fluids over the next few years.

As per Technavio, the technological advances in cementing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global oilwell spacer fluids market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global oilwell spacer fluids market: Technological advances in cementing

Oilwell cementing plays a significant role in oil and gas E&P activities. The cementing operation is important to hold the casing pipe in place and to prevent fluid migration between subsurface formations. Vendors in the market are increasingly focusing on integrating advanced technologies with conventional oilwell spacer fluids to offer efficiency in cementing operations and creating a strong cement bond. In order to create a strong cement bond, the surface of the casing pipe needs to be freed from drilling fluids. Oil spacer fluids separate the drilling fluid from cement slurry and improve the chances of building a robust cement bond. Therefore, technological advances in cementing will propel the growth of the global oilwell spacer fluids market during the forecast period.

“Companies in the oilwell spacer fluids market are increasingly adopting the emerging Wellbore Shielding (WBS) technology to offer high-quality and efficient products. IN WBS spacer, special additives are added to oil spacer fluids which help create an impermeable seal for damage-prone zones, which can restrict drilling fluid and reservoir pressure invasion. Thus, advents in oil and gas drilling technologies are further expected to propel the global oilwell spacer fluids market growth during the forecast period,” says a senior research analyst at Technavio.

Global oilwell spacer fluids market: Segmentation analysis

This market research report segments the global oilwell spacer fluids market by application (onshore and offshore) and geographic regions (North America, APAC, Europe, MEA, and South America).

North America led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. The market growth in North America can be attribute to the increased oil and gas production in developed economies including the US, Canada, and Mexico. In addition, rising investments and initiatives taken by the governments to support the oil and gas industry in these economies is further expected to fuel the demand for oilwell spacer fluids, particularly, for cementing operations.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (June 24, 2019 - 8:30 AM EDT)

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