Well Cementing is the most important aspect of the well completion process; it plays a critical role in permanently stopping water from penetrating the well. The basic function of Well Cementing Services is to seal the lost circulation zone and areas where there is reduced flow within the wellbore. There are three basic purposes of cementing, namely, zonal isolation and segregation, corrosion control and formation stability, and pipe strength improvement. When these functions are achieved, production and stimulation operations are conducted.
A successful cement job requires that the pumped slurry is the same that was designed and tested in the laboratory, control of mixing water quality, control of the dry material and the cement, and that the slurry additives tested in the laboratory are the same for actual operations.
The Well Cementing Services Market is segmented on the basis of its types and applications. These are further broken down into different geographies. Leading players of this industry, along with their recent developments and other strategic industry activities, are profiled in the report. The top five companies are Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), Trican Well Service Ltd. (Canada) and Calfrac Well Service Ltd. (U.S.).
Source: MarketsandMarkets Analysis
The Well Cementing Services Market is projected to witness significant growth especially with respect to the offshore application. The offshore segment market is estimated to grow at a CAGR of 12.4% from 2014 to 2019. As the exploration and production activities are venturing into deeper waters, the key market players operating in this industry are compelled to find innovative methods to avail of the new opportunities present in the offshore Well Cementing Services industry.
The market is also analyzed with respect to Porter's Five Force model. Analysis of the sector’s value chain and the various factors affecting the stages of the chain has been conducted to assess and evaluate the five forces of Porter’s model. The report also provides a competitive landscape of major market players that includes mergers and acquisition, business expansion, agreements and collaborations, contracts signed, and new technologies innovated. Key developments have been mapped against the market players involved in order to determine the growth strategies implemented by the leaders within the segment. The study provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the market.
This report also focuses on well casing equipment, which is an integral part of well cementing services. Casing equipment are pipe-like structures introduced into the wellbore to isolate and define the passage of hydrocarbons from the well formation. The casing equipment market is expected to grow at a CAGR of 12% from 2014 to 2019, while Asia-Pacific is expected to show the highest CAGR from 2014 to 2019.
Well Cementing Services basically refers to pumping cement slurry into the well. It performs the key function of sealing the annulus after the casing string has been run into the wellbore. The global market is projected to exhibit high growth on account of rising onshore and offshore development activities, increasing energy demands in emerging economies, rising capital expenditure in E&P operations, rising sub-sea construction activities and the shale boom in the U.S. The global market was valued at $11,488.6 million in 2013. It is projected to grow at a CAGR of 10.9% for the forecast period 2014-2019, owing to the increase in the number of wells, globally.
North America holds the major well cementing services market share followed by Asia-Pacific and Europe. In terms of a country-level scenario, the market is dominated by the U.S. on account of the increasing number of deep water offshore wells due to which more cementing for the construction of oil and gas wells is needed. Due to the rising energy demand and redevelopment of mature oilfield wells, the demand for well cementing is high even in Asia-Pacific. China alone holds approximately 22% of the global market. Increased well construction activities and pressure pumping activities in China have led to an increase in the demand for cementing services.
By application, offshore cementing is estimated to dominate the market in terms of growth rate. Asia-Pacific and Europe currently lead the offshore cementing market in terms of market value. With respect to market by type, there is higher demand for primary cementing, with North America and Asia-Pacific leading in terms of market share.
Zhejiang Ruico Advanced Materials Co., Ltd is a professional acrylic resins Manufacturers and flame retardants factory, our company was established in 2012, listed in China on 2019, Ruico is a national high-tech enterprise, Passed ISO9001 quality management system, have provincial-level R&D center, hired academicians, PhD, and other technicians totally 35 people, got 42 patents, the rule-maker of national flame retardant standards.
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