Onshore Drilling Fluids Market Size & Share, by Product Type (Water-Based Fluids, Oil-Based Fluids, Synthetic-Based Fluids); Well Type (HPHT, Conventional) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4498
  • Published Date: Mar 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Onshore Drilling Fluids Market size is projected to cross USD 8 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of onshore drilling fluids was USD 3 Billion. The growth of the market can be attributed to the rising expansion of oil & gas industry. The latest data suggests that oil and gas industry is one of the largest sector in the world in terms of revenue generation. In 2022, the global oil and gas industry generated around USD 2 trillion.

At a globe level, the demand for gasoline and fuels is rising in a steady pace. This is anticipated to increase the demand of onshore drilling processes. Thus, the huge population involved in the oil and gas industry is expected to increase the adoption rate of onshore drilling fluids. In the oil and natural gas industry of the United States, there are almost 10 million jobs which is contributing to at least 8% of the nation’s Gross Domestic Product (GDP) as per a report published in 2022.

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Onshore Drilling Fluids Sector: Growth Drivers and Challenges

Growth Drivers

  • High Demand and Consumption of Oil Across the World – Oil is an essential component in varied processes across numerous industries. Also, the rapid industrialization has propelled the high consumption of oil in order to fulfil the needs and demand of recent urbanization.   In 2021, the global oil consumption was approximately 94 million barrels per day, a 6% increment from the previous year.

  • High Utilization of Petroleum and Fuels – As per the reports of U.S. Energy Information Administration, it was calculated that in the year 2020, around 92.2 barrels of petroleum and other liquid fuels were consumed worldwide.

  • Rising Support by Various Governments – By 2024, Indian government is planning to invest around USD 120 billion in oil and gas industry. USD 60 billion is expected to direct towards exploration and production (E&P) activities, and rest USD 60 billion in natural gas infrastructure.

  • High Expenditure in Research & Development – World Bank released the global expenditure made in Research & Development (R&D) sector which showed that in 2020 it was 2.63% of the total GDP. This is an increase from year 2.14% of total GDP in 2016.


  • Adverse Effect on Environment- extracting oil and gas have a negative impact on the environment. The oil drilling causes interference of migratory pathways, it destroys the habitats of animal, plants, and humans as well. Blowouts, pipeline leaks or breakdowns, and shipwrecks can all result in oil spills. Ecosystems are seriously threatened by these spills. Moreover, oil and gas operations have the potential to degrade the clean air and water that polar bears, whales, walruses, and people. In addition to this, the oil drilling spews dangerous chemicals into the ocean and dumps tonnes of harmful pollutants into the air.
  • Increased Risks During the Drilling Processes
  • Fluctuation in the Price of Crude Oil and End Products

Onshore Drilling Fluids Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2035)

~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Onshore Drilling Fluids Segmentation

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 2035. 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:

         By Product Type

  • Water-Based Fluids
  • Oil-Based Fluids
  • Synthetic-Based Fluids

          By Well Type

  • HPHT
  • Conventional

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Onshore Drilling Fluids Industry - Regional Synopsis

North American Market Forecast   

The North American onshore drilling fluids  market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be expected to owing to the large consumption of petroleum and petroleum products. As per U.S. Energy Information Administration revealed that in 2021, the United States consumed an average of about 19.89 million barrels of petroleum per day or a total of about 7.26 billion barrels of petroleum. Also, the high demand of energy by the American population is another growth factor of the market in the region. In 2021, total U.S. primary energy consumption was equal to about 97 quadrillions Btu, as stated by U.S. Energy Information Administration.

APAC Market Statistics

The Asia Pacific onshore drilling fluids market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. Market growth in the region is also expected on the account of rising consumption of oil in the region. Even though Japan's oil consumption has been progressively reducing along with the nation's overall declining total energy use, oil continues to be the major energy source in the country, making up around 40% of its total energy supply. Moreover, Japan is significantly reliant on the importation of crude oil, around 80-90% of the oil is imported from the Middle East. Furthermore, rise in the number of onshore oil wells present in the region and the rising demand for oilfield chemicals are also expected to drive the market growth. In India, there are around 85 oil wells in just Digboi region.

Research Nester
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Companies Dominating the Onshore Drilling Fluids Landscape

    • Baker Hughes Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Castle Harlan Inc.
    • TETRA Technologies
    • Scomi Group Bhd
    • Halliburton Energy Services, Inc.
    • NOV
    • Newpark Resources, Inc.
    • CES Energy Solutions Corp.
    • GEO Drilling Fluids, Inc.
    • Weatherford International plc


In The News

  • TETRA Technologies has entered into a licensing agreement with KMX Technologies LLC and Hyrec Holdings Company W.L.L.  for recycling of produced water for the purpose of beneficial reuse.

  • Baker Hughes Company has acquired Quest Integrity, a global leader in the development and delivery of technology-enabled asset inspection and reliability management solutions across the pipeline, refining, petrochemical and power generation sectors.



Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 4498
  • Published Date: Mar 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The expansion of oil and gas industry along with rising energy demands and petroleum products, rising spending on R&D, higher initiatives taken by government to boost the oil and gas industry is expected to propel the market drive in the forecast period.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

The adverse effect on environment along with increased risks during the drilling processes and fluctuation in the price of crude oil and end products are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Baker Hughes Company, Castle Harlan Inc., TETRA Technologies, Scomi Group Bhd, Halliburton Energy Services, Inc., NOV, Newpark Resources, Inc., CES Energy Solutions Corp., GEO Drilling Fluids, Inc., and Weatherford International plc

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by well type, product type, and by region.

The oil-based fluid segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Onshore Drilling Fluids Market Report Scope

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