The global fracking chemicals & fluids market is
expected to reach USD 57.59 billion by 2025, according to a new report by Grand
View Research, Inc. Globally increasing demand of fuel and electricity has been
a major factor driving the market growth. The utilization of fracking chemicals
in drilling operations has increased owing to the growing demand of horizontal
drilling methods.
Fracking chemicals have various
uses in drilling operations including, prevention of scales in pipe, reduction
of friction over base pipe, thickening of water in order to suspend proppants,
retention of viscosity of fluid at high temperatures, elimination of bacteria
in water, protection of casing from corrosion, and clay stabilization to lock
down clays in shale structure.
Fracking chemicals are used in
vertical and horizontal drilling operations. The recent shift towards
horizontal drilling methods have led to the exponential growth of horizontal
wells category in well-type segment. Owing to this scenario, horizontal well
was the largest well-type category in 2016 and is expected to maintain its
dominance over the next eight years. The horizontal well segment had a market
share of 75.6% in 2016.
Water based fluids is expected to
be the fastest growing segment in the product category over the forecast period
with an estimated CAGR of 10.9% from 2017 to 2025. Water based fluids are
utilized to drill approximately 80% of the wells. Growing concern towards
toxicity and biodegradation of fracking fluids is expected to drive water based
fluids product demand over the forecast period. Owing to its ability to
minimize erosion of weak rock formations and circulation loss, water based
fracking fluid is expected to gain significance over the forecast period.
Browse full research report on Global
Fracking Chemicals & Fluids Market: http://www.grandviewresearch.com/industry-analysis/fracking-chemicals-fluid-market
Further key findings from
the report suggest:
- The global fracking chemicals demand was 2,222.0 kilotons in 2016 and is expected to grow at a CAGR of 9.1% from 2017 to 2025
- Water based fluids emerged as the largest product segment in 2016 and is estimated to generate revenue of USD 32.08 billion by 2025
- Global fracking chemicals demand in vertical well was USD 520.5 million in 2016 and is anticipated to witness steady growth over the next eight years
- The U.S. horizontal well fracking chemicals market in well type category was 1,122.1 kilotons in 2016 and is estimated to reach a total volume of 2,360.3 kilotons by 2025
- The industry in Asia Pacific is projected to witness substantial growth over the forecast period owing to various infrastructural and technological developments across major economies. In terms of revenue, the regional market is expected to grow at a CAGR of 13.8% from 2017 to 2025
- Key players of the industry include, Baker Hughes Incorporated, Halliburton Company, Schlumberger Ltd., and E.I. du Pont de Nemours and Company. These major players are often indulged in joint ventures, mergers & acquisitions, in order to gain market share and expand their product portfolio.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the global fracking
chemicals & fluids market on the basis of product, well type, application,
function and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- Water based fluids
- Oil based fluids
- Synthetic based fluids
- Foam based fluids
Well type Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
- Horizontal well
- Vertical well
Function Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- Friction reducer
- Clay control agent
- Gelling agent
- Cross-linkers
- Breakers
- Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Russia
- Asia Pacific
- China
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Algeria
- South Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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