08 January 2020
The Swellable Packers Market Report 2020-2030: Forecasts by Product (Permanent Packers, Retrievable Packers), By Application (Zonal isolation, Well completion, Stimulation operations, Underbalanced drilling, others), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and analysis of leading companies operating in this industry.
Many proven reserves of oil and gas have drawn large investments in disruptive E&P operations such as directional drilling and hydraulic fracturing. These unconventional techniques of oil and gas drilling require zonal isolation to increase the production of oil and gas and prevent the mixing of oil and reservoir fluids in various zones. They are preferred to traditional cement and zonal isolation perforation techniques as they provide a simplified and low-cost method of breaking targeted reservoirs into smaller sections.
The constant exposure of unconventional and offshore wells to high pressure and high-temperature temperatures has contributed to the need for more robust swellable packers to be built to survive these extreme conditions. Technological advances in the swellable packer industry have allowed manufacturers to deliver packers that can operate in difficult underlying hole environments. Of starters, Tendeka's SwellRight Ultra requires fewer rubber and can be used in both horizontal and vertical wells in high temperature and pressure conditions.
Likewise, TAM International's Smart FREECAP provides powerful well-insulation and can handle several well-completed control sheets. These advancements in swellable packer engineering would fuel market growth for swellable packers over the forecast period at a CAGR of more than 6 percent.
The demand for swellable packers in the world is slightly divided. The report provides an overview of the competitive landscape of the industry which provides information on the products offered by different companies to help clients increase their market share. In particular, the market analysis document also includes information regarding future trends and threats that will impact market growth. This should help companies develop strategies to optimize the potential for future growth.
With a comprehensive study of business growth prospects, it was observed that North America would account for the largest share of the market for swellable packers over the forecast period. In the growing number of unconventional and offshore drilling activities in North America, the need for zonal isolation will drive market growth in the region for swellable packers. However, the revival in international crude oil prices favors improved productivity of unconventional oil and gas companies that will increase the number of oil and gas E&P ventures that fuel market growth.
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