New York, NY, Oct. 08, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Clear Brine Fluids Market by Products (Potassium Chloride, Calcium Chloride, Potassium Bromide, Sodium Bromide, Sodium Chloride, Calcium Bromide, And Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024’’. According to the report, global clear brine fluids market was valued at around USD 780 million in 2017 and is expected to reach approximately USD 1,450 million in 2024, growing at a CAGR of slightly above 5% between 2018 and 2024.
Clear brine is a salt solution that is majorly in aqueous form. Clear brine is a water-based solution which contains inorganic salts that are prepared with the help of various salts according to its need in the application. This solution has sodium chloride in the same amount as water. They prevent the growth of bacteria and help to preserve food items.
Browse through 28 Tables & 20 Figures spread over 110 Pages and in-depth TOC on “Global Clear Brine Fluids Market Size 2017 Analysis: Industry by Type, Share, Top Segments, Key Players and Forecast, 2024”.
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Due to the rise in the drilling activity, the brine solutions are largely used for oil & gas drilling extraction. The drilling activities have risen recently for the exploration of unconventional resources in various regions. The key players in the market are taking various steps for the development of the market. For instance, Great Lakes Solutions which is one of the major key players in the market had started its new pilot plant in the year 2017. This expansion will give the company a major edge over other key players and will also increase the product portfolio of the company. A major restraint for the growth of the global clear brine fluids market is the fluctuating shale gas situation which is coupled with the political imbalance in regions such as the Middle East. However, focus on exploring unconventional resources is anticipated to provide various opportunities for the key players operating in the global clear brine fluids market.
The global clear brine fluids market can be segmented on the basis of products into potassium chloride, calcium chloride, potassium chloride, sodium chloride, potassium bromide, sodium bromide, calcium bromide, and others. Oil & gas sector is expected to be the most dominating end-user of the global clear brine fluids market and is expected to keep this trend over the estimated period. Moreover, the increase in mining activity in various regions such as the Middle East & Africa is expected to drive the demand for clear brine fluids in the years to come.
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North America clear brine fluids market is expected to witness a significant growth in the forecast period. The usage of the product has increased at a large scale in the region due to the presence of large shale reserves. Moreover, the government is also increasing its energy security which will enhance the business growth for the market of the region.
The Asia Pacific is likely to witness great growth for clear brine fluids due to the presence of a number of shale reservoirs in the region. Also, the occurrence of various drilling activities in countries like India and China are boosting the growth of the clear brine fluids market. China had around 15% of the global recoverable shale gas in the year 2015. This rate is expected to grow in the upcoming year which is favoring the growth of the market.
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Europe is likely to witness sluggish growth in the clear brine fluids market during the forecast period. Gas & oil exploration is expected to be the most dominant end-user in Europe which increases the use of clear brine fluids in the region. Moreover, Germany, France, and the UK together contribute to the largest share of the market in the region.
The Middle East & Africa is a major region for the oil & gas industry. The region has large oil & gas reserves in regions like Libya, Syria, Egypt, and others. The large presence of oil & gas reserves has augmented the growth of the market in the region. Latin America is expected to witness a moderate growth over the years to come owing to the emerging markets especially in countries such as Brazil, Argentina, etc. in the region.
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Some of the major players operating in the global clear brine fluids market are Egyptian Mud Engineering & Chemicals Company (EMEC), Geo Drillings Fluids, Inc., TETRA Technologies Inc, Albemarle Corporation, Israel Chemicals Ltd., Zirax Ltd, Solent Chemicals, Great Lake Solutions, Drillings Fluids, Inc., Cabot Corporation, and Clements Fluids, amongst others.
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The report segments global clear brine fluids market as follows:
Clear Brine Fluids Market: Products Segment Analysis
- Potassium Chloride
- Calcium Chloride
- Sodium Chloride
- Potassium Bromide
- Sodium Bromide
- Calcium Bromide
- Others
Clear Brine Fluids Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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