Personal Lubricant Market Size Worth $1.6 Billion By 2026

The global personal lubricant market size is expected to reach USD 1.6 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 8.1%. New product launches to meet demand for natural lubricants is expected to aid market growth over the forecast period.

Emerging players are trying to capture higher share by developing lubricants made from natural and organic ingredients. Good Clean Love, Inc., an Oregon-based company in the U.S., was the first to develop organic lubricants. In November 2016, the company received a patent for its formulation of organic lubricants.

Moreover, promotional activities from manufacturers to destigmatize societal perception of using personal lubricants has positively impacted growth. For instance, in January 2019, Reckitt Benckiser’s Durex brand launched a marketing campaign on a global platform to challenge the misconceptions of using lubricants for female sexual discomfort.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/personal-lubricant-market

Further key findings from the report suggest:

Water-based lubricants dominated the market in 2018, owing to lower prices and as they are easy to wash off
Leading brands such as Durex, Sliquid, and Astroglide retail a range of water-based lubricants with variations in flavors, pack size, and packaging
In July 2018, Trigg Laboratories, Inc. reinvented its entire product line with new packaging and products, which had contemporary, sleek, and modern designs. It also launched a new product line—Wet Hemptation and Wet Dessert
The growing presence of e-commerce platforms and online retailers that offer freedom to select any product and make discrete delivery has helped overcome social taboo of buying these products
Manufacturers, retail pharmacies, and supermarkets have also launched websites for providing easy access to customers.
Geographically, North America held the largest share in 2018. The personal lubricant market is regulated by the U.S. FDA and manufacturers must comply with good manufacturing practices, and receive 510(k) medical device clearance for marketing
In May 2016, Trigg Laboratories received FDA approval for Wet Original Personal lubricant by meeting the provisions for labeling, good manufacturing practices and prohibitions against adulteration and misbranding
According to U.S. Census data and National Consumer survey, in 2018, K-Y lubricants were used by 28.58 million people, aiding it to capture significant share in the U.S.
Asia Pacific is expected to be the fastest growing market during the forecast period. Aging population and high incidence of vaginal dryness & erectile are anticipated to drive demand.

Drilling Fluids Market Size Worth $11.1 Billion By 2027

The global drilling fluids market size is projected to reach USD 11.1 billion by 2027, according to a new report by Grand View Research, Inc. The market is projected to witness a moderate CAGR of 4.2% over the forecast period. Revival of new exploration and production projects on account of recovery in oil prices over the next few years is expected to drive the market growth over the forecast period.

Ongoing demand for advanced and better formulations for horizontal and directional drilling is expected to provide opportunity to market players. Moreover, the rise in demand for oil and gas has resulted in oil exploration companies exploring unconventional methods of oil extraction.

However, some European countries have established stringent norms for drilling fluids. This is because some drilling fluids, for instance, oil-based fluids, when discharged in water, can form piles of mud and cuttings that cover parts of the seabed which hinders aquatic life. These factors are expected to hinder the growth of the market over the forecast period.

Governments in various countries around the world such as U.S., Indonesia, China, and Australia are taking favorable initiatives to explore untapped oil resources. For instance, the Indonesian government provides favorable trade policies such as 0% import duty on imports of floating or submarine production facilities and drilling platforms, thereby driving the demand for unconventional drilling techniques. Moreover, reduced taxes are applicable over Foreign-owned Drilling Companies (FDCs) carrying out drilling activities in Indonesia, which is another factor driving the demand for drilling fluids.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/drilling-fluids-market-analysis

Further key findings from the report suggest:

Onshore emerged as the leading application segment of the overall market in 2019 owing to the presence of a large number of onshore oil rigs as compared to offshore oil rigs
In 2019, North America dominated the global market due to the presence of favorable initiatives taken by the governments in U.S. and Canada for the exploration of oil and gas
Asia Pacific is expected to register the highest growth rate over the forecast period owing to a rise in oil exploration and production activities in countries such as China, Australia, Brunei, and Indonesia
The water-based fluids segment dominated the market in 2019 owing to factors such as increase in environmental concerns and cost-effectiveness of these fluids
Synthetic-based fluids is expected to register a significant growth rate over the forecast period owing to its low toxicity, low bioaccumulation potential, and lower fluid loss when compared to other variants
Major players in the drilling fluids market include Schlumberger, Baker Hughes, Halliburton, Weatherford International, and National Oilwell Varco. Market players focus on R&D activities and enhancing their product portfolio.

Personal Lubricant Market Size Worth $1.6 Billion By 2026

Click the link below:
https://www.grandviewresearch.com/industry-analysis/personal-lubricant-market

Further key findings from the study suggest:

Water-based lubricants dominated the market in 2018, owing to lower prices and as they are easy to wash off
Leading brands such as Durex, Sliquid, and Astroglide retail a range of water-based lubricants with variations in flavors, pack size, and packaging
In July 2018, Trigg Laboratories, Inc. reinvented its entire product line with new packaging and products, which had contemporary, sleek, and modern designs. It also launched a new product line—Wet Hemptation and Wet Dessert
The growing presence of e-commerce platforms and online retailers that offer freedom to select any product and make discrete delivery has helped overcome social taboo of buying these products
Manufacturers, retail pharmacies, and supermarkets have also launched websites for providing easy access to customers.
Geographically, North America held the largest share in 2018. The personal lubricant market is regulated by the U.S. FDA and manufacturers must comply with good manufacturing practices, and receive 510(k) medical device clearance for marketing
In May 2016, Trigg Laboratories received FDA approval for Wet Original Personal lubricant by meeting the provisions for labeling, good manufacturing practices and prohibitions against adulteration and misbranding
According to U.S. Census data and National Consumer survey, in 2018, K-Y lubricants were used by 28.58 million people, aiding it to capture significant share in the U.S.
Asia Pacific is expected to be the fastest growing market during the forecast period. Aging population and high incidence of vaginal dryness & erectile are anticipated to drive demand.

Middle east drilling fluid market expected to grow at 5.3% CAGR from 2015 to 2022

Middle East drilling fluid market size was worth USD 1.45 billion in 2014 and is estimated to reach USD 2.19 billion by 2022. Growing exploration activities coupled with increasing number of E&P companies in Oman, UAE, Saudi Arabia and Qatar which are expected to improve the output of conventional oil & gas fields. Rising concern towards maintenance costs in deep water projects, and dipping downhole losses are expected to propel demand in the region over the next seven years.

Rising production of hydrocarbons due to increasing natural gas and crude oil demand in different industrial divisions including transportation and power is expected to propel growth over the forecast period. Drilling fluid market is expected to witness high demand owing to increasing rate of ultra-deep sea and deep sea explorations principally in the Red Sea and the Persian Gulf.

The requirement of high efficiency in order to extract various forms of hydrocarbons and technological advancements in rheology are expected to open new prospects for the industry players. However, geopolitical disturbance coupled with stringent policies concerning usage and disposal of oil-based fluids majorly in the Red Sea and the Persian Gulf regions is expected to hamper exploration activities over the forecast period.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/middle-east-drilling-fluid-market

In 2014, water based fluids contributed to over 46.0% of the overall revenue and emerged as a primary product segment. Rising concern towards biodegradation and toxicity of the products is expected to drive growth in the market over the next seven years.

The synthetic-based mud market is expected to witness high growth over the next seven years owing to properties including the ability to provide thermal stability, maximized rate of penetration, excellent wellbore stability, and lubricity. Cost effectiveness, reduced losses and reduced negative environmental impact of the product is expected to drive demand over the next seven years.

Use of drilling mud including aerated and foam fluids are projected to witness an average growth over the forecast period on account of its ability to remove and clear cutting from holes without any significant fluid loss from fractured rocks.

The Onshore Oil & Gas sector accounted for a significant share of over 70.0% of the overall market in 2014. Increasing need for the product as a lubricant and cooling agent in E&P equipment owing to harsh weather conditions such as extreme temperatures, dry environment, and desert topography is expected to propel demand over the forecast period.

Saudi Arabia emerged as the largest market in Middle East accounting for over 35.0% in 2014. Companies including Saudi Aramco have been investing increasingly in exploration activities owing to growing demand. Low impact of reduced oil prices on production levels of major manufacturers in the region is anticipated to fuel oil & gas market during the forecast period. Iraq and Kuwait are expected to be prospective markets for oil & gas projects.

The increase in working rig counts to meet projects of national interest in countries such as Iran, UAE, and Saudi Arabia are expected to drive demand in the market. Growing concern regarding extreme temperature operating conditions, well blowout and wellbore stability is anticipated to fuel drilling fluid demand from offshore and onshore production sites in the region over the next seven years.

Key companies in the region include Newpark Resources, Baker Hughes, Petrochem Performance Chemicals, Diamoco Group, Schlumberger, Halliburton, Oren Hydrocarbons, Weatherford and Catalyst LLC.