Market Overview:
The global lost circulation material (LCM) market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth of the LCM market can be attributed to the increasing demand for oil and gas across the globe. In addition, the growing drilling activities in onshore and offshore regions are also contributing to the growth of the LCM market. The LCM market is segmented on the basis of type, application, and region. On the basis of type,the LCM market is segmented into fibres, flakes, and granules. Fibres are further sub-segmented into natural fibres and synthetic fibres while flakes are sub-segmented into cellulose flake and mineral flake. Granules are further sub-segmented into calcium carbonate granule and clay granule On the basis of application,the LCMmarket is dividedinto offshore drillingand onshore drilling segments .On th ebasis o fregion ,t he L CMm arket i sdividedint ohorizontalregions such as North America ,Latin America ,Europe Asia Pacificand Middle East & Africa .
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Product Definition:
Lost Circulation Material (LCM) is a fluid used to stop the flow of oil and gas in a well. LCM is pumped into the well at high pressure, which will cause it to expand and fill the pores of the formation around the producing interval. This will seal off any leaks or fractures in the formation and stop the flow of oil and gas.
Fibres:
Fibres are naturally occurring organic materials that are made up of discrete units called fibers. Fibers can be classified on the basis of various physical properties such as thermal, mechanical, and electrical. The most common types of fibers used in applications include cellulose fiber (cellulose), asbestos fiber (asbestos), ceramic fiber, and wool/cotton linter.
Flakes:
Flakes is a type of LCM which is used to cover the missing parts in concrete structures. It helps in providing protection and restoring the color of old concrete structures. The most common application includes use for covering cracks, joints, holes or spalls on exterior walls.
The global lost circulation material (LCM) market size was valued at USD 2,500 million in 2016.
Application Insights:
The global offshore drilling application segment accounted for the largest revenue share in 2016 and is projected to witness significant growth over the forecast period. The growth can be attributed to increasing demand for drilling fluids, muds, cuttings and solids management systems from the offshore oil & gas industry.
The onshore drilling application segment is also expected to grow at a lucrative rate owing to its rising adoption in various industries including construction, mining and civil engineering. Onshore applications include coal bed methane (CBM), shale gas and tight rocks among others. CBM requires large volumes of LCM as it has high permeability resulting in low circulation time as compared with other types of rock formations where water will stay stagnant for longer periods due to low permeability properties similar to that of limestone or dolomite rocks which are found near aquifers or underground sources of freshwater such as springs or wells.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue with a share of over 60% in 2017. This is attributed to increasing offshore drilling activities and growing requirement for Circulating Fluid Machinery (CFM) for efficient oil production from existing wells. The region is expected to witness significant growth over the forecast period owing to factors such as rising energy demand, expanding end-use industries, and increasing government spending on exploration & production activities.
The European LCM market was valued at USD X million in 2017 and is expected to grow at a CAGR of XX% from 2018 to 2030 owing herringbone pattern which has been observed since last few years along the coastlines of Western Europe including Spain, France Italy etc., which indicates that there has been an increase in offshore drilling activities across these countries resulting into increased demand for lost circulation material products over the forecast period.
Growth Factors:
- Increasing demand for oil and gas from developing countries
- Rising exploration and production activities in offshore areas
- Proliferation of unconventional resources such as shale gas and tight oil
- Stringent environmental regulations for drilling operations
- Technological advancements in LCM products
Scope Of The Report
Report Attributes
Report Details
Report Title
Lost Circulation Material (LCM) Market Research Report
By Type
Fibres, Flakes, Granules
By Application
Offshore Drilling, Onshore Drilling
By Companies
Halliburton, Hemp Inc., Baker Hughes(GE), AMC Drilling Optimisation, Schlumberger, Elkem
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Lost Circulation Material (LCM) Market Report Segments:
The global Lost Circulation Material (LCM) market is segmented on the basis of:
Types
Fibres, Flakes, Granules
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Offshore Drilling, Onshore Drilling
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Halliburton
- Hemp Inc.
- Baker Hughes(GE)
- AMC Drilling Optimisation
- Schlumberger
- Elkem
 Market Overview.svg)
Highlights of The Lost Circulation Material (LCM) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fibres
- Flakes
- Granules
- By Application:
- Offshore Drilling
- Onshore Drilling
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lost Circulation Material (LCM) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
LCM is a term used to describe any material that has been lost or discarded from a manufacturing process. This could include materials like plastic, metal, and paper.
Some of the key players operating in the lost circulation material (lcm) market are Halliburton, Hemp Inc., Baker Hughes(GE), AMC Drilling Optimisation, Schlumberger, Elkem.
The lost circulation material (lcm) market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lost Circulation Material (LCM) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Lost Circulation Material (LCM) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Lost Circulation Material (LCM) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Lost Circulation Material (LCM) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Lost Circulation Material (LCM) Market Size & Forecast, 2020-2028
4.5.1 Lost Circulation Material (LCM) Market Size and Y-o-Y Growth
4.5.2 Lost Circulation Material (LCM) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Fibres
5.2.2 Flakes
5.2.3 Granules
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Offshore Drilling
6.2.2 Onshore Drilling
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Lost Circulation Material (LCM) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Lost Circulation Material (LCM) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Fibres
9.6.2 Flakes
9.6.3 Granules
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Offshore Drilling
9.10.2 Onshore Drilling
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Fibres
10.6.2 Flakes
10.6.3 Granules
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Offshore Drilling
10.10.2 Onshore Drilling
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Fibres
11.6.2 Flakes
11.6.3 Granules
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Offshore Drilling
11.10.2 Onshore Drilling
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Fibres
12.6.2 Flakes
12.6.3 Granules
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Offshore Drilling
12.10.2 Onshore Drilling
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Fibres
13.6.2 Flakes
13.6.3 Granules
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Offshore Drilling
13.10.2 Onshore Drilling
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Lost Circulation Material (LCM) Market: Competitive Dashboard
14.2 Global Lost Circulation Material (LCM) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Halliburton
14.3.2 Hemp Inc.
14.3.3 Baker Hughes(GE)
14.3.4 AMC Drilling Optimisation
14.3.5 Schlumberger
14.3.6 Elkem
