The global Fracking Chemicals And Fluids Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Fracking Chemicals & Fluids Market is estimated to reach USD 57.59 billion by 2025 owing to the rising demand for electricity and fuel globally. Fracking chemicals & fluid are gathering of chemicals that are used in hydraulic fracturing. Hydraulic fracturing is the process of breaking underground rocks and inoculating fluid along with sand & additives at high pressure to release oil and natural gas. Hydraulic fracturing also supports in generating cleaner energy.
Key Players:
- Baker Hughes Incorporated
- Halliburton Company
- Schlumberger Ltd.
- I. du Pont de Nemours and Company
- Pioneer Engineering Services
- BASF SE
- The DOW Chemical Company
- Akzo Nobel N.V.
- Ashland
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Growth Drivers:
The fracturing chemicals and fluids are used to reduce the pressure loss caused by the friction for production of wide fracture by generating sufficient pressure drops, maintain stability, etc. The fluid prevents corrosion to a great extent, lubricates the extraction procedures and prevents bacterial growth & blockages, avoids scale disposition and maintains the viscosity of fluid among others.
Different types of fluids are used in various industrial operations like foam-based, water-based and gelled oil based. Depending on chemicals, solutions like corrosion inhibitors, surfactants and friction reducers, and scale inhibitors are used in the fracking process. The fracking chemicals & fluids industry has been experiencing positive growth due to continuous development of unconventional sources of gas and oils along with the rising demand for energy security in several economies.
The changes in the horizontal drilling techniques is predicted to drive the fracking chemicals & fluids market. Horizontal fracking activity requires a comparatively large number of fracking chemicals and fluids due to which considerable change has been observed in the segment recently. Due to this, the demand for fracking chemicals and fluids is witnessing a steady growth and this is predicted to continue in future as well.
The rising demand for energy needs with more improvements is expected to result in rising demand for fracking chemicals and fluids which also stimulates the fracking chemicals & fluids industry. The backflow of fracking fluid to the surface pollutes the ground and surface water which has given rise to more stringent norms and alternatives to fracking fluids. These are major factors that hinder the growth of the market in future. The introduction of technologies including hydraulic fracking and horizontal drilling impact high competition in the fracking chemicals & fluid market. The major players that have wide manufacturing facilities along with large territorial presence is expected to boost the market significantly. With improvements in technology, the industry is predicted to witness strong competition.
Product Outlook:
- Water based fluids
- Oil based fluids
- Synthetic based fluids
- Foam based fluids
Function Outlook:
- Friction reducer
- Clay control agent
- Gelling agent
- Cross-linkers
- Breakers
Regional Insights:
Geographically, the market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to hold larger market share followed by Asia Pacific region.
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