Onshore Drilling Fluids Market Analysis

Product Type (Water-Based Fluids, Oil-Based Fluids, Synthetic-Based Fluids)

The global onshore drilling fluids market is segmented and analyzed for demand and supply by product type into water-based fluids, oil-based fluids, and synthetic-based fluids. Out of the three types of products, the oil-based fluids segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the high consumption of petroleum-based products across the world. It is estimated that the consumption of petroleum products in India stood up at 195 million tons (MT) in FY21. Moreover, in 2023, China's daily demand, which decreased last year, is likely to increase by around 800,000 barrels per day.

Well Type (HPHT, Conventional)

The global onshore drilling fluids market is also segmented and analyzed for demand and supply by well type into HPHT, and conventional. Amongst these two segments, the conventional segment is expected to garner a significant share by the end of 2037. The segment growth is primarily attributed to the higher number of conventional wells in the world. Canada holds around 10% share of the world's proven oil reserves, which total slightly under 170 billion barrels, placing it in third place overall. Over 97% of the nation's reserves are oil sand deposits in the province of Alberta. Also, a sizeable portion of the country's conventional oil reserves is in the province.

Our in-depth analysis of the global market includes the following segments: