The global fracking fluid market size was valued at USD xx billion in 2019 and is anticipated to grow at a CAGR of xx during the forecast period.
Due to increasing population, the demand for energy is rising and it is expected to be the key driver for market growth. Almost all countries are taking continuous efforts to achieve energy independence and security. Fracking is a technique in which a rock is fractured by a fracking fluid, which is also known as pressurized liquid. Fracking or hydraulic fracturing fluids used in the processes are water-based, gelled-oil-based, and foam-based products.
All nations are keen on shifting to natural gas and from imported fuels to domestic natural gas. Cheaper natural gas would also propel the growth of domestic industries such as pharmaceuticals, fertilizers, and chemicals. On the other hand, fracking has been facing a lot of opposition due to the environmental hazards and contamination caused by the process, which in turn, is expected to hinder the market growth. One of the major opportunities is the eco-friendly Fracking Fluids.
The Onshore segment is largely driven by the growth in drilling activities and growing demand for energy around the world. The rising focus on unconventional resources such as coalbed methane (CBM) and tight oil reserves will also boost the growth of this market segment.
In North America, the drilling industry is highly developed. The U.S. has a well-established drilling & exploration industry and thus, has accounted for the largest share in the global industry. Also, the exploration of new reserves and technological advancements by companies for increasing the production rate of the oil and gas wells in this region are fueling market growth.
Increasing demand for energy and rising energy consumption are anticipated to remain the key driving factors for the growth of the market in the Asia-Pacific region. Currently, the majority of oil and gas E&P activities are centered in South Korea, China, India, and Australia.
Developments in offshore activities and revival of abandoned oil wells in the Persian Gulf are projected to drive offshore oil and gas production in the Middle East & Africa region.
- The players in this market are witnessing backward integration. Fracking companies are integrated into the production of fracking fluids. Fracking fluids players are continuously striving for technological edge and are entering the emerging markets with various strategic agreements. Due to the presence of a large number of key players, this market is highly competitive in nature. Some of the significant key players operating in this market are, Schlumberger Ltd., Baker Hughes Incorporated, BASF SE, and Halliburton Company, Chevron Phillips Chemical Co. LLC, DuPont de Nemours Inc., Halliburton Co., Weatherford International Plc., and others.
- In 2019, Halliburton Company announced to build the first Saudi Arabia-based oilfield stimulation and specialty chemical manufacturing plant.
- In 2017, North American private equity firm, Black Bay Energy Capital invested in oilfield service industry, and announced its investment in Downhole Chemical Solutions LLC, an U.S.-based manufacturer of oilfield stimulation chemical products.
What Does This Report Provide?
This report provides a detailed understanding of the global fracking fluid market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
By Product Type
- Oil-Based Fluids
- Water-Based Fluids
- Gel Fluids
- Foam-Based Fluids
By Well Type
- Vertical well
- Horizontal well
- North America, by Country
- North America, by Application
- Western Europe, by Country
- The Netherlands
- Rest of Western Europe
- Western Europe, by Application
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Application
- Eastern Europe, by Country
- Rest of Eastern Europe
- Eastern Europe, by Application
- Middle East, by Country
- Saudi Arabia
- Rest of Middle East
- Middle East, by Application
Rest of the World
- Rest of the World, by Country
- South America
- Rest of the World, by Application
Reasons to Buy This Report:
- Market size estimation on a regional and global basis
- Unique research usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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