Rapid Partnerships Among Market Leaders Define The Future Of Clear Brine Fluid

Clear brine fluids are water-based inorganic salt solutions that are utilized in the completion and workover phases of extraction of oil & gas and drilling operations. Brine salts prevent undesired formation like clay swelling. Moreover, it helps in controlling high-temperature and high-pressure conditions in the reservoir during conventional drilling, reducing damage and hazards.

According to the report of Allied Market Research, the clear brine fluids market is expected to reach $1.3 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027. Factors such as expansion of the oil and gas sector and the drilling of more rigs for gas extraction play a vital role in the industry growth. In addition, affordability and the corrosive resistance features of clear brine fluids supplement the market growth. The majority of the market players have focused their efforts on emerging markets such as Central and South America, Eastern Europe, and Asia-Pacific, where they can take advantage of inexpensive land and affordable labor, and favorable regulatory standards.

Alliances between companies promote production of clear brine fluid:

Albemarle Corporation, a leading chemical manufacturing company recently announced its collaboration with American Fuel & Petrochemical Manufacturers (AFPM). The collaboration is to meet the growing demand for fuel and advanced materials by developing performance-based catalysts and flexible technologies and services to the refining and petrochemical industries. As clear brine fluid is used in the production of petroleum and the refining of petroleum products, the demand for it has increased.

Apart from this, Halliburton Company, one of the world's largest providers of products and services announced that it entered into a contract with Kuwait Oil Company (KOC), a company that is involved in the exploration, drilling, and production of oil and gas within the State of Kuwait. The goal of the project is to expand KOC’s digital transformation abilities by implementing solutions to maximize operational efficiency and boost the production of oil and gas.

Opportunities in the clear brine fluid market in coming years:

As the global consumption of petroleum products increased, the demand for clear brine fluids has boomed over the last couple of years. Changing environmental conditions and depletion of natural gas and crude oil reserves have prompted corporations to seek out unconventional energy sources. The clear brine fluids markets must develop even more in the future and increase the use of efficient techniques.

Brine-based products such as bromides and chlorides are widely used in applications including in deicing of roads and industrial refrigeration, which are expected to drive the global market. According to U.S. Energy Information Administration (EIA), the global consumption of petroleum and liquid fuels is at around 97.5 million barrels/day for all of 2021 and is estimated that it would increase by another 3.8 million barrels/day by 2022. This demonstrates that increased oil and gas development operations to meet rising energy demands would open new opportunities for market players in the clear brine fluids market. In the future, the industry would surely witness rapid investments and the expansion of existing market leaders.

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