Home > Chemicals & Materials > Specialty Chemicals > Calcium Bromide Market

Calcium Bromide Market Size

  • Report ID: GMI12017
  • Published Date: Oct 2024
  • Report Format: PDF

Calcium Bromide Market Size

The global calcium bromide market was valued at USD 5.6 billion in 2023 and is estimated to grow at a CAGR of over 5.4% from 2024 to 2032.

 

The increased use of calcium bromide in drilling fluids serves as a significant driver in the calcium bromide industry. Drilling fluids, also known as drilling muds, are essential in the oil and gas industry for various functions, including maintaining wellbore stability, cooling and lubricating the drill bit, and transporting cuttings to the surface. Calcium bromide is favored for its high density, which provides effective pressure control in deep wells and enhances the overall efficiency of drilling operations.
 

As global energy demand continues to rise, especially with the expansion of offshore drilling and unconventional resource exploration, the need for reliable and effective drilling fluids has never been more critical. The properties of calcium bromide, including its ability to prevent formation damage and its compatibility with various well conditions, make it an ideal choice for many operators. Additionally, advancements in drilling technologies and methods are further driving the demand for specialized drilling fluids that incorporate calcium bromide.
 

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for calcium bromide was valued at USD 5.6 billion in 2023 and is expected to reach USD 8.9 billion by 2032, driven by a CAGR of over 5.4% from 2024 to 2032.

In 2023, drilling fluids accounted for a 40.2% share of the market, bolstered by their crucial function in oil and gas exploration.

U.S. market was valued at USD 1.4 billion in 2023, driven by significant shale oil and gas reserves and stringent regulatory frameworks.

Major players in the industry include Akzonobel, Dow, Evonik Industries, ICL, Lanxess, Nouryon, PPG Industries, Solvay, Tosoh Corporation, and Veolia Environnement.

Calcium Bromide Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 240
  • Countries covered: 18
  • Pages: 210
 Download Free Sample