By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–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.
Increased environmental concerns
Rise in drilling waste management regulations
Availability of alternative drill waste management process
South China Sea offers opportunities for oil & gas companies
Key Market Players
Baker Hughes Company
GN Solid Control
Other players in the market are
Drill Cuttings Disposal Company/Apollo Resources
Key market segments
Rest of Europe
Rest of Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/5t89oa
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