Drilling Waste Management Market Forecasts to 2028 – Global Analysis By Type (Cutting Dryer, Drying Shake, Screw Pump), Service (Containment & Cuttings Handling, Solid Control, Treatment, Recycling, Recovery, and Disposal), Application (Offshore, Onshore)

Drilling Waste Management Market Forecasts to 2028 – Global Analysis By Type (Cutting Dryer, Drying Shake, Screw Pump), Service (Containment & Cuttings Handling, Solid Control, Treatment, Recycling, Recovery, and Disposal), Application (Offshore, Onshore), and By Geography

According to Stratistics MRC, the Global Drilling Waste Management Market is accounted for $5.49 billion in 2021 and is expected to reach $9.47 billion by 2028 growing at a CAGR of 8.1% during the forecast period. Drilling waste management is an element of triumphant operation activities related to E&P operations, which is necessary for effective drilling and production operation and for environmental protection. It takes systematic approach for management of this waste. This system helps to maintain environmental parameter intact without disturbing efficiency of drilling. The waste streams from drilling include drilling fluids, cuttings, and interfacial mixtures.

Market Dynamics:

Driver:

Rising oil & gas exploration & production activities worldwide

The augment in the energy demand has resulted in the rise in oil & gas fabrication from the regions such as North America and Middle East. Owing to this boost, there is increase in the exploration & production activities in the region. The drilling activity process plays a crucial role for oil & gas exploration and production (E&P). This increase in the drilling activities results in the surge of the waste produced while drilling which comprises of the drilling mud and cuttings. Hence, it is very important to have an appropriate waste management application for drilling processes, upholding the environment.

Restraint:

Decline of oil prices

The current refuse of oil prices have pretentious the exploration & production activities across diverse regions and so the revenues of oil & gas operators. Trickling down the consequence, there has been decline in new field exploration activities and so the expansion of drilling waste management is sluggish during the forecast period. A decline in crude oil prices is usually good for oil marketing companies as pressure on their margins reduces. Though, they would benefit only if low prices sustain for a prolonged period, which doesn't look likely in the current scenario.

Opportunity:

Rising popularity of integrated waste management

The rising popularity of integrated waste management will be one of the key drilling waste management market opportunities that will impact growth during the forecast period. The growing need to reduce pollution because of the release of harmful gases and landfills is leading to the need for the development of new techniques for solid waste management. Integrated waste management systems maximize recycling of used goods, waste reuse, as well as the sorting and separation of waste collected. An effective ISWM system considers how to prevent, recycle, and manage solid waste in ways that most effectively protect human health and the environment. The popularity of integrated waste management coupled with the rising consumption of oil and gas will provide the opportunity to the drilling waste management market during the forecast period.

Threat:

Impacts of drilling waste on the environment

Many of the materials and wastes allied with drilling activities have the potential to impact on the environment negatively. The potential impact depends primarily on the material, its attention after release of the biotic community that is exposed. The major impacts of great concerns are pollution of water bodies, pollution of land, as well as air pollution. Improper disposal of contaminated drill cuttings into water bodies (ocean) exposes marine life to danger. Excessive release of air pollutants from internal combustion engines makes the air unsafe for both humans and animals and some of their effects includes respiratory difficulties in humans and animals, damage to vegetation and soil acidification.

The solid control segment is expected to be the largest during the forecast period

The solid control segment is estimated to have a lucrative growth due to the high efficiency of the process involved with control system, ease of use and adoption, and high presence of drilled solids reduces the efficiency of drilling equipment, thereby increasing the drilling cost and the risk of wellbore instability. Moreover, solids control equipment is used at the surface to remove the unwanted solids and recover the drilling fluid for reuse. It eradicates drill cuttings from the drilling mud at the surface for recirculation. The mechanisms of the solids control system will depend upon the types, which is used for drilling fluid.

The onshore segment is expected to have the highest CAGR during the forecast period

The onshore segment is anticipated to witness the fastest CAGR growth during the forecast period due to its wide operations based on land. Onshore drilling offers large options for storage and transport of oil after the extraction process. Onshore operators have an extensive diversity of drilling waste management options obtainable to them, and the selection of disposal method is based on the areas of operation. Moreover, the onshore application is led by North America, particularly the U.S., which has witnessed the historic levels of domestic crude oil production, owing to the widespread use of technologies, such as horizontal drilling and hydraulic fracturing that led to the “shale revolution.”

Region with highest share:

North America is projected to hold the largest market share during the forecast period, due to strict environmental regulations, rising oil drilling and extraction activities, and consistent investment in E&P activities. The U.S. Shale Revolution significantly increases its oil and gas production, one of the biggest events 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.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to surging investment by China and India to increase domestic production, rise in government regulations in the offshore regions, rise in the export of oil and gas for commercial and industrial use, and rising awareness regarding environmental pollution. The region is witnessing large scale exploration activity coupled with booming construction business that is predicted to intensify over the forecast period. There are huge reserves of natural gas off the coast of India and in China, which will further boost the industry, as demand for natural gas is expected to increase owing to minimal emission levels.

Key players in the market

Some of the key players profiled in the Drilling Waste Management Market include Halliburton Company, Weatherford International PLC., Twma Ltd., Schlumberger Limited., Newalta Corporation, Tervita Corporation, Baker Hughes Incorporated, Derrick Equipment Company, Scomi Group Bhd, Nuverra Environmental Solutions, ADES International, Total S.A., United States Department of the Interior, Augean PLC., National Oilwell Varco, Inc., and Waste Management Inc.

Key Developments:

In Oct 2020, Waste Management Inc., completed the acquisition of Advanced Disposal Services, Inc., a company that provides waste management services including drilling waste material handling. The acquisition is expected to deliver sustainable waste management and recycling services to commercial, industrial and residential sectors.

In September 2019, TWMA has secured a contract from North Sea operators to provide offshore processing of drilling waste using its innovative TCC RotoMill technology which allows drill cutting to be managed safely and effectively on site. The contract value is estimated to be around £20million.

In June 2018, Halliburton recently unveiled the BaraOmni hybrid separation system, an advanced separation technology able to remove ultra-fine low gravity solids (LGS) resulting in better performing, longer lasting fluid systems. BaraOmni allows drilling fluid, contaminated solids, and other hydrocarbon waste streams to be treated with a single system.

In January 2018, US Interior Department announced that it will allow drilling in nearly all US waters. This is the single largest expansion of offshore oil and gas leasing by the federal government in the history of the United States.

Services Covered:
• Containment & Cuttings Handling
• Solid Control
• Treatment, Recycling, Recovery, and Disposal

Waste Types Covered:
• Contaminated Water-Based Muds
• Spent Bulk Chemicals
• Waste Lubricants
• Contaminated Oil-Based Muds

Types Covered:
• Cutting Dryer
• Submersible Slurry Pump
• Drying Shake
• Screw Pump
• Decanter Centrifuge
• Integrated Cuttings Re-Injection Solutions

Applications Covered:
• Offshore
• Onshore

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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