Rise in Drilling Activities for Unconventional Energy Resource Exploration to Boost Demand for Clear Brine Fluids, Says TMR
With increasing oil and gas drilling activities worldwide, the demand for quality clear brine fluids is also increasing due to their role in the drilling completion process. Leading companies operating in the global clear brine fluids market are focusing on acquiring smaller organizations to expand their business. The key players in the global clear brine fluids market comprise Israel Chemicals Ltd., Albemarle Corporation, and TETRA Technologies with a share of 42.1% in the market as of 2014. Due to the existence of few large MNCs, the degree of competition in the global clear brine fluids market is moderate. To maintain their position in the global clear brine fluids market, the leading market players are focusing on the reduction of production costs of clear brine fluids to enable completion of offshore drilling projects. However, the prevalence of entry barriers such as brand equity is likely to inhibit the entry of new players in the global clear brine fluids market...