Zion Market Research, the market research group announced the analysis report titled ‘Well Casing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Well Casing Market: Overview
For oil and gas exploration the wells are drilled but the raw sides of the well are unable to support themselves. Hence, in order to stabilize and avoid the sides of the well from caving casing is done. With the help of saving the well-stream is protected against the contaminants and it is prevented from getting polluted by the oil or gas that is produced. When a recently drilled well is cased it means that a steel pipe is fitted down insides the well. The casing and the gap between the untreated sides of well are cased permanently by cementing them.
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Global Well Casing Market: Segmentation
The well casing market is globally segmented into its type, application, and equipment. On the basis of type, the global market is divided into cementation equipment and casing equipment. Based on the application, the market is segregated into offshore and onshore. Depending on the equipment that is used in the well casing the market is categorized into float equipment, centralizers, liners, and wiper plugs.
Global Well Casing Market: Growth Factors
The ever growing demand for the oil and gas industry is the prime factor that is driving the well casing market. In the recent years, there has been a tremendous rise in the exploration activities of both onshore and offshore oil and gas which is fuelling the market growth. The depleting groundwater reserves have made it necessary to protect the aquifers and groundwater during the operations of drilling. The different regulations and protocols that have been implemented by the government are also contributing to the market growth. The standards that are implemented are regarding the tensile strength, thickness of casing, length, and composition that should be used while casing of the well.
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Global Well Casing Market: Regional Analysis
Region-wise, the well casing market is diversified into regions such as Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. The rise in the exploration of the shale reserves has boosted the well casing market in the North American region. In the Asia Pacific region, the developing countries such as Australia and China are witnessing the rise in the drilling and mining activities which is fuelling the market growth. In the Middle East and African regions, there has been a tremendous increase in the exploration activities in the oil and gas industry, thus increasing the demand of the well casing in the global market.
Global Well Casing Market: Competitive Players
The major market players in the pipe coating market include Akzo Nobel N.V., BASF SE, Covestro AG, Wasco Energy Group of Companies, LyondellBasell Industries Holdings B.V., The Dow Chemical Company, Arkema S.A., Celanese Corporation, E.I. Du Pont De Nemours & Co., and Tenaris SA.
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Global Well Casing Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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