GCC Drilling Fluids Market

GCC Drilling Fluids Market is forecast to add a whopping incremental revenue of USD 1,181 million between 2022 to 2030.

Rapid growth for oil and gas demand across the globe has increased exploration and production activities across the GCC region. Growing concerns regarding the spill containment and solid waste will increase the demand for drilling fluid in GCC countries. Moreover, increasing advance development of drilling fluids is further expected to boost the GCC drilling fluids market. Expansion in the on shore and off shore drilling activities is driving the market growth.

Increasing oil production across various countries like Qatar and rising number of ongoing projects will drive the demand for offshore in the GCC drilling fluid market. For instance, International Energy Agency estimated that oil production has been increased by 2% in 2021 as compared to 2022 in Middle East region. Increasing demand for crude oil and natural gas across the GCC countries such as Saudi Arabia, UAE are expected to propel the market growth.

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Growing mining activities along with the increasing government initiatives will accelerate the GCC drilling fluid market. Favourable government initiatives such as Saudi Vision 2030 aimed to increase the localization from 40% to 70% in oil and gas sectors. High presence of various projects across the GCC countries such as Shell, ConocoPhillips, Khurais and Safaniya is further propelling the market growth. However, strict regulations regarding the drilling chemical and environmental concerns will hinder the market growth in near future.

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Oil-based fluid market is driven by its unique properties such as higher thermal stability and improves lubrication whereas water-based fluid market is expected to grow due to the increased environmental concerns and cost-effective as compared to the other types of drilling fluids.

Saudi Arabia is expected to hold the largest market share owing to the growing demand for transportation fuels and high presence of the major oilfields such as Ghawar, Shaybah, among others. Moreover, increasing concern regarding the boreholes coupled with the growing demand for industrial cooling equipment is further supporting the Saudi Arabia drilling fluid market. Rising investment in the upstream sector across the Saudi Arabia. For instance, Saudi Arabia planned to increase its crude oil production to 13 million barrels per day by 2027 and gas production by 50% by 2030.

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Segments covered in the Report:

The GCC Automotive Aftermarket has been segmented on the basis of Application and Product. Based on the Application, the market has been segmented into Onshore and Offshore. By Product, the market is segmented into Water-Based Fluids (WBF), Oil-based fluids (OBF), Synthetic-Based Fluids (SBF) and Others.

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GCC Drilling Fluids Market by Application

• • Onshore​
  • Offshore​

GCC Drilling Fluids Market by Product

• • Water-Based Fluids (WBF)​
  • Oil-based fluids (OBF)​
  • Synthetic-Based Fluids (SBF)​
  • Others​

GCC Drilling Fluids Market by Country​

• • Saudi Arabia​ drilling fluids market All-Up​
  • United Arab Emirates drilling fluids market All-Up​
  • Oman drilling fluids market All-Up​
  • Kuwait drilling fluids market All-Up​
  • Rest of GCC drilling fluids market All-Up​