Global Lost Circulation Material Market to Expand Driven by Rising Drilling Activities and Enhanced Wellbore Stability
Market Intelo’s latest research estimates that the global lost circulation material market was valued at USD 2.1 billion in 2023. The market is projected to grow at a CAGR of 6.2% during the forecast period, reaching approximately USD 3.8 billion by 2032. This growth is fueled by increased drilling activities, rising investments in oilfield services, and the adoption of high-performance drilling fluids to manage complex geological formations.
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