Drilling Waste Management Market to 2025
https://www.coherentmarketinsights.com/insight/request-sample/990 Drilling waste management is classified on the basis of service type such as solid control, treatment & disposal, containment & handling, and others. Among service type, treatment and disposal service segment accounted for largest share in drilling waste management market. This is mainly owing to the onsite burial sites which include landfill and pits, land farming, land spreading, slurry injection, thermal treatment, and bioremediation. The solid control segment is expected to witness significant growth, owing to the efficiency of the process. This service segment is used to remove unwanted solids such as drill cuttings from drilling fluid, removes gases, and other contaminants in the mud, providing maximum recovery for re-use of drilling fluids. Drilling waste management is also classified on the basis of application such as onshore and offshore. Onshore application segment holds the largest revenue share in the drilling waste management market, due to to wide operations based on land. Furthermore, onshore drilling offers large options for storage and transport of oil after extracting it from the well. 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. View More Information @ https://www.coherentmarketinsights.com/market-insight/drilling-waste-management-market-990
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.