Clear Brine Fluids Market Global Report 2022-2027
The global clear brine fluids market size reached US$ 1.09 Billion in 2021. By 2027, It will reach US$ 1.36 Billion, exhibiting a CAGR of 3.62% during 2022-27.
SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ — The latest research study “Clear Brine Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global clear brine fluids market reached a value of US$ 1.09 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.36 Billion by 2027, exhibiting a CAGR of 3.62% during 2022-2027.
What is clear brine fluids?
Clear brine fluids (CBFs) refer to salt solutions with few or no suspended solids, which are mainly used in the completion process of offshore oil and gas wells. They can either contain a single salt or a mixture of two or three types of salt compounds compatible with one another. CBFs can be categorized into various kinds, such as potassium, calcium chloride, cesium formate, calcium bromide, etc. They assist in controlling wellbore pressure, cooling the bits and tools, lubricating pipes, and transporting solids from the wellbore. CBFs also aid in reducing operating time and minimizing formation and equipment damage.
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Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What are the major drivers for the clear brine fluids market?
The escalating product demand as workover, completion, permanent packer, and displacement liquids to remove drilling muds and the inflating need for crude oil and natural gas are primarily driving the clear brine fluids market. Besides this, the introduction of energy solutions by the leading players using unconventional resources, including coal bed methane, shale gas, hydrates, and tight gas sands, is further augmenting the market growth.
Moreover, the growing popularity of CBFs, on account of the increasing drilling activities, and the expanding oil and gas industry are also catalyzing the global market. Apart from this, the rising petroleum recovery operations to improve the efficiency in production processes are anticipated to propel the clear brine fluids market over the forecasted period.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global clear brine fluids market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, product type and application.
Breakup by Product Type:
• Potassium Chloride
• Calcium Chloride
• Calcium Bromide
• Potassium Formate
• Cesium Formate
Breakup by Application:
• Onshore Oil and Gas Production
• Offshore Oil and Gas Production
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
List of Major Key Players:
• Albemarle Corporation
• Baker Hughes Company
• Carousel Specialty Products Inc.
• Chemcon Speciality Chemicals Ltd.
• Clements Fluids
• Halliburton Company
• ICL Group Ltd.
• Lanxess AG
• Newpark Resources Inc.
• Schlumberger Limited
• Solent Chemicals
• Tetra Technologies Inc.
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