Market Trends

The report predicts the Oilfields Drilling Fluids Additives Market to grow with a CAGR of 2.56 % over the forecast period of 2018 - 2023. The Global Oilfields Drilling Fluids Additives Market size at $1575.10 million in 2017 is anticipated to grow extensively in 2023. The Global Oilfield Drilling Fluid Additives Market Industry Analysis states, oil production and exploration activities in the past decade have increased due to the rapid growth of the global economy that is highly based oil & gas sector to meet its energy demands.  The chemical formulation has resulted in growing demand for Oil field drilling fluids used in the exploration process. Fluid viscosifiers hold the largest market share of about 81% followed by corrosion inhibitors, which accounted for about 6%. North America has witnessed significant growth in the market with a global share rising to more than 50% of the market in 2017 due to growing offshore drilling activities in the Gulf of Mexico. Request Sample What