North America Drilling Fluids Market is Expected to Reach USD 7,203.6 million in 2019: Transparency Market Research
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Post on 18-Jan-2015
DESCRIPTIONDrilling Fluids Market was valued at USD 4,336.8 million in 2013 and is expected to reach 7,203.6 million in 2019, growing at a CAGR of 7.5% from 2013 to 2019. Browse North America Drilling Fluids Market Report with Full TOC at http://www.transparencymarketresearch.com/north-america-drilling-fluids-market.html Growing demand for natural gas and crude oil in North America is expected to bolster growth drilling fluids market in the region. Furthermore, shift towards exploring and developing deep sea reserves and increasing implementation of horizontal drilling is expected to augment the growth of the North America drilling fluids market. Increasing focus towards developing unconventional resources such as shale oil/gas, coal bed methane and other resources are likely to bolster the overall product demand. Key challenges faced by the industry include increasing environmental concerns regarding the use of drilling fluids and raising concerns over the disposal of waste drilling fluids and contamination are expected to curb market growth of drilling fluids in North America. However, emergence of nanotechnology for product development is expected to overcome these challenges.
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