Middle East & Africa Drilling Fluids Market Size & Outlook
Middle East & Africa drilling fluids market, 2018-2030 (US$M)
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MEA drilling fluids market highlights
- The MEA drilling fluids market generated a revenue of USD 2,613.2 million in 2023.
- The market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- In terms of segment, wbf was the largest revenue generating product in 2023.
- WBF is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Algeria is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 2,613.2 million |
| Market revenue in 2030 | USD 3,586.5 million |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Largest segment | Wbf |
| Fastest growing segment | WBF |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OBF, SBF, WBF |
| Key market players worldwide | Baker Hughes Co Class A, CES Energy Solutions Corp, Halliburton Co, Newpark Resources Inc, Petronas Chemicals Group Bhd, Schlumberger Ltd, Weatherford International PLC Ordinary Shares - New |
Other key industry trends
- In terms of revenue, MEA region accounted for 31.4% of the global drilling fluids market in 2023.
- Globally, MEA is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,738.6 million by 2030.
Key Regions: UAE , U.S. , UK , Brazil , Saudi Arabia
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Drilling Fluids Market Scope
Drilling Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa drilling fluids market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drilling fluids market will help companies and investors design strategic landscapes.
Wbf was the largest segment with a revenue share of 49.02% in 2023. Horizon Databook has segmented the Middle East & Africa drilling fluids market based on obf, sbf, wbf covering the revenue growth of each sub-segment from 2018 to 2030.
Growing concern towards oily drilled cuttings and sampling coupled with environmental impacts associated with waste discharge is expected to drive drilling fluids demand over the forecast period Recent developments in offshore activities such as contract signature and increasing oil production in various regions including Qatar and Iran is expected to drive offshore E&P in the Middle East over the next seven years.
Additional factors such as revival of abandoned oil wells in the Persian Gulf and selling off ongoing rig operations are also expected to drive offshore oil and gas production in the region.
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Target buyers of Middle East & Africa drilling fluids market databook
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Our clientele includes a mix of drilling fluids market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa drilling fluids market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa drilling fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA drilling fluids market size, by country, 2018-2030 (US$M)
Middle East & Africa Drilling Fluids Market Outlook Share, 2023 & 2030 (US$M)
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