The global Drilling Waste Management Market is expected to cross USD 7.13 billion by 2025 and is expected to reach at a CAGR of 6.57% in the forecast period due to rise in environmental concern toward effective drilling waste management. Activities pertaining to oil & gas exploration, logistics and transportation entail a potential risk to surroundings and atmosphere. These activities are production, work-over operations, gas plant operations, and completion operations.
The type of wastes in the drilling operation include heavy metals, drilling fluid, and mud. The toxicity of drilling waste determines the deterioration of life and health of living beings due to exposure of toxic substances. Toxicities are determined through bioassays and exposure to laboratory animals to different amounts of toxic substance. On the other hand, the overall process of drilling oil and gas produces very large volumes of mud and drill cuttings. Hence, offshore and onshore methods have followed a wide range of methods to manage drilling wastes.
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Strict regulations by the government and environmental concerns are driving the drilling waste management system market. Rise in ecological awareness in the international market is another factor boosting the market growth. In addition, rise in investments in the mining and construction sector is anticipated to contribute significantly to the market growth in the forecast period. Drilling waste management industry is segmented based on service, application, and geography. Service categories for drilling waste management market include containment and handling, solids and control & treatment, and disposal. “Treatment and disposal” category dominates the market segment owing to increasing popularity.
Containment handling stands second to the segmental growth in the forecast period due to efficient methods of service. Application category for drilling waste management industry includes onshore and offshore. Onshore applications registered a CAGR of 6.1% in 2016 and is anticipated to exhibit a higher growth during the forecast period. Offshore applications witness a moderate growth due to slowing of oil and gas sector that contributes majorly to the drilling waste management market.
Geographical segmentation for drilling waste management industry spans North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Europe and North America are sizeable markets due to extensive production ofoil and gas coupled with stability in oil prices. Asia-Pacific’s drilling waste management market accounts for a slightly higher growth due to rise in export of oil and gas for commercial and industrial use. Rise in government regulations in the offshore regions and rising awareness regarding environmental pollution are likely to drive the APAC’s market growth in the forecast period.
In the Middle East and Africa, the market witnesses potential opportunities in form of exploration activities due to oil & gas reserves in these regions. Stern policies by government for offshore projects triggers the inclination towards drilling waste management processes. The key players in the drilling waste management industry include Soli-Bond Waste Processing Services, Secure Energy Services Inc., Weatherford International Ltd., Soiltech AS, TWMA, STEP OILTOOLs, Specialty Drilling Fluids Limited, and Tervita Corporation.
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Market Segment:
Technology Outlook (Revenue, USD Billion, 2014 - 2025)
• Treatment & Disposal
• Solids Control
• Containment & Handling
Application Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Onshore
• Offshore
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Russia
• Norway
• UK
• Asia Pacific
• China
• India
• Australia
• Central & South America
• Brazil
• Argentina
• Venezuela
• Middle East and Africa
• United Arab Emirates
• Saudi Arabia
• Egypt
Continued…
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The new Drilling Waste Management Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the drilling waste management market include Augean PLC, Baker Hughes, Derrick, FD Petrol Group, GN Solids Control, Halliburton, Imdex Limited, Kosun, National Oilwell Varco, Newalta, and Others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Drilling Waste Management Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/drilling-waste-management-market/download-sampleMarket DynamicsThe market for drilling waste management is growing on the account of rising environmental concerns along with increasing expenditure from oil & gas companies in exploration activities.
Nevertheless, growing focus to achieve zero discharge along with increasing research & development activities for high-end treatment technology would offer ample opportunities to the market.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
