Drilling Waste Management Market - Trends and Forecast till 2025

1. Drilling Waste Management Market - Trends and Forecast till 2025 Drilling waste management is a constituent of successful operation activities related to E&P operations, which is essential for effective drilling and production operation and for environmental protection. The waste streams from drilling includes drilling fluids, cuttings, and interfacial mixtures. Large E&P (Exploration & Production) activities, growing environmental concerns, and stringent government regulations are some of the factors which is expected to fuel growth of the drilling waste management market during the forecast period. The discovery of deep-water hydrocarbon reserves created several opportunities for the oil and gas manufacturers, supporting the growth of market. However, slump in crude oil prices hamper the market growth. Request For Sample Copy of this Research Report :​https://www.coherentmarketinsights.com/insight/request-sample/990 On the basis of service type, drilling waste management market is segmented into solid control, treatment & disposal, containment & handling, and others. Furthermore, the service type is sub-segmented into treatment & disposal, containment & handling, and solids control. Treatment & disposal service segment was the leading segment among service types, and accounted the largest share in drilling waste management market, owing to the onsite burial sites which include landfill and pits, land farming, land spreading, slurry injection, thermal treatment, and bioremediation. However, solid control segment will be the largest growing segment during the forecast period, due to high efficiency of the process involved with control system. Furthermore, the service segment is used to remove unwanted solids such as drill cuttings from drilling fluid, gases and other contaminants in mud, while providing maximum recovery for re-use of drilling fluids. On the basis of application, drilling waste management is segmented into onshore and offshore. In 2016, onshore application segment was the leading segment with the largest market share in drilling waste management market, owing to its wide operations based on land. Furthermore, onshore drilling offers large options for storage and transport of oil after the extraction process.

2. North America holds a dominant position in the global drilling waste management market, with 36.40% market share. This is due to various drilling activities produced by the increase of the shale gas. The U.S. Shale Revolution significantly increases its oil and gas production, one of the biggest event for oil & gas industry. The regulations in the U.S. promote the development of oil & gas, providing a stable process. The stabilization of oil prices may result in increasing drilling activities in North America, which in turn, drives the market growth. Europe holds the second largest position, in terms of revenue, in the global drilling waste management market. The market is driven by growing exploration activities, supportive regulations, and increasing awareness towards environmental pollution. Environmental regulations such as zero discharge policy in the offshore region drives the market growth. The used drilling mud is considered as a kind of mining waste, thus, it is subjected to 20/2006/EC mining waste directive, as per European legislation. The drilling mud cannot be disposed on landfill facility and can be re-injected into underground strata. In Middle East and Africa, the discoveries of gas in Mozambique and Tanzania and increased E&P (Exploration & Production) activities in Kenya and Uganda, holding untapped oil and gas reserve potential in the region. The stringent environmental norms for offshore projects and any spillage may result in additional operation cost, ensuring the adoption of drilling waste management by the industry. The drilling waste management market was valued at US$ 3.91 billion in 2016 and is expected to witness a CAGR of 6.30%, in terms of revenue, during the forecast period. Among service type, treatment and disposal segment accounted to held major share in the drilling waste management market in 2016. Factors such as high initial investment and lack of skilled labor is expected to hamper the market growth. Major Players in the Global Drilling Waste Management Market Some of the key players operating in the global drilling waste management market are Halliburton Co., Weatherford International Ltd., National Oilwell Varco, Inc., Xi'an Kosun Machinery Co., Ltd., Tervita Corporation, TWMA Ltd., Step Oiltools, Soli-Bond, Inc. Specialty Drilling Fluids Ltd., Soiltech, Scomi Group BHD, Secure Energy Services, Inc., Schlumberger Ltd., Nuverra Environmental Solutions, Ridgeline Canada, Inc., Newalta, Hebei Gn, Solids Control Co. Ltd., Imdex Limited, Baker Hughes, Inc., Derrick Equipment Company, and Augean PLC

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