Dublin, Nov. 25, 2021 (GLOBE NEWSWIRE) -- The "Cuttings re-injection services Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The cuttings re-injection services market was valued at $180.6 million in 2020, and is projected to reach $259.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.
Cuttings re-injection is the only economical and environmentally sound process for dumping of drilled cuttings and drilling waste at the rig site.
It is the waste disposal method where oilfield wastes and drill cuttings are blended into a slurry with water and injected at elevated pressure into hydraulically produced fractures up to thousand meters beneath the surface.
The factors contributing toward the market growth are strict government rules and rise in concerns regarding environment. However, the shift toward renewable energy for energy production hinders the growth of the oil & gas industry. This limits the growth of the oil & gas service industry, which is consequently hampers the demand for cuttings re-injection services and equipment in the market.
On the contrary, some of the countries are trying to be self-sufficient in oil production which is projected to create lucrative opportunities during the forecast period.
Market dynamics
Drivers
- Increased environmental concerns
- Rise in drilling waste management regulations
Restraint
- Availability of alternative drill waste management process
Opportunity
- South China Sea offers opportunities for oil & gas companies
Key Market Players
- Baker Hughes Company
- NOV Inc.
- Advantek
- Augean PLC
- GN Solid Control
- Haliburton
- Schlumberger
- PPLI
- Weatherford
- Terralog Technologies
Other players in the market are
- Aker Solutions
- Archer Limited
- KCA Deutag
- Odfjell Drilling
- Drill Cuttings Disposal Company/Apollo Resources
- Step Oiltools
- Derrick Corporation
- Calder Limited
- Scomi
Key market segments
By Type
- Dedicated Injection
- Annular Injection
By Application
- On-Shore
- Off-Shore
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Russia
- Norway
- Rest of Europe
- Asia-Pacific
- China
- Malaysia
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/7eknkh
