GCC Drilling Fluids Market

GCC Drilling Fluids Market Size & Insights

GCC Drilling Fluids Market is forecast to add a whopping incremental revenue of USD 900 million between 2025 to 2032 driven by rise in demand for oil & gas globally and increase spending on exploration, development and production (E&P) across the GCC Region.

GCC Drilling Fluids Market Drivers

Rise in Demand of Oil & Gas Globally

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 the global demand for oil is forecast to grow by 2.5 million barrels between 2024 and 2030 and to reach 105.5 million barrels towards the end of 2030. OPEC+ decision to lift curb in May 25 will reset oil supply globally will drive, this is projected to increase drilling activities across the GCC will fuel the demand for drilling fluids in the region.

Increase Spending on Exploration, Development and Production (E&P) across the GCC Region

Saudi Aramco is currently taking steps to expand its crude oil production capacity to 13 million b/d by 2027 and accelerating its gas production by over 50% by 2030, as it gets access to Jafurah unconventional gas field. Abu Dhabi National Oil Company recently announced its plans to spend USD 150 billion on capex, to increase its oil production capacity for reaching its target of 5 million barrel per day by 2027. The company further stated that its capex of USD 150 billion for the period 2023-2027, will be initiated, after it receives approval from the Adnoc Board.

GCC Drilling Fluids Market Segment Analysis

Product Type Insights

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.

GCC Drilling Fluids Market by Country Insights: Saudi Arabia is expected to hold the largest market share

Saudi Arabia is expected to hold the largest market share owing to 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.

GCC Drilling Fluids Market Major Players & Competitive Landscape

Several leading companies operating in the market are Schlumberger, Halliburton, Baker Hughes, Chevron, Gumpro Drilling Fluids many more.

Scope of the Report

Research Report Segmentation

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.

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​

GCC Drilling Fluids Market Leading players

• • Schlumberger
  • Halliburton
  • Baker Hughes
  • Chevron
  • Gumpro Drilling Fluids