Fracking Fluid and Chemicals Market is Expected to Attend Consistent Growth till 2025 | Hexa Research

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Research Report on Fracking Fluid and Chemicals Market Size, Shares, Growth, Application Analysis, Competitive Market Strategies and Forecasts, 2015 to 2025

The global Fracking Fluid and Chemicals Market is anticipated to witness steady growth over the forecast period. These are utilized in hydraulic fracturing for the recovery of oil and shale gas. This stimulus is typically carried out once throughout the productive existence of a well and it helps in eradicating gas and oil, thus improving well efficiency. This factor is anticipated to drive the market growth over the forecast period.

Integral components of fracking chemicals and fluids differ depending on the type of fracturing, situations of wells, and condition of water in the field. A typal fracture treatment uses around three to 12 chemical additives. This process is initially employed to extract coalbed methane (CBM), unconventional liquids, shale gas, tight gas, and other products which are hard to convalesce through usual drilling processes.

Growth in adoption of unconventional resources of gas and oil such as shale and CBM is expected to drive market over the forecast period. Many recognized businesses are using hydraulic fracturing for conventional gas and oil resources. Growing concern among countries regarding safe energy resources is anticipated to further impel market expansion. Requirement of fuel for industrial and domestic consumption is expected to further boost market over the forecast period.

The market has acknowledged backward integration of companies into manufacturing of fracking chemicals and fluids. Hydraulic fracturing enterprises have set up different departments for the expansion of oilfield chemicals that produce fluids and chemicals with the required properties. Demand from areas with potential for unconventional gas reserve is expected to bode well for product demand in near future.

Efforts for energy sovereignty are expected to drive the market over the forecast period. Various countries are eager to ascertain energy security. Hence, many government bodies are adopting wide-ranging alternatives to natural gas. For example, utilization of natural gas as fuel source for vehicles. Low price of natural gas is also expected to drive the demand.

However, widespread opposition owing to harmful impact of hydraulic fracturing on environment is anticipated to hinder growth of the global market. Ecological effects such as climate change, air pollution, rising risk of earthquakes, higher water consumption, and water contamination are some of the biggest challenges for the market. Various countries have laid down stern regulations over utilization of hydraulic fracturing. This factor is also expected to challenge market expansion to an extent.

Having said that, the objective of these countries to accomplish energy security through domestic gas production is expected bode well for market growth. Rising concerns regarding the consumption of water in restricted supply regions and other environmental hazards can be tackled by using foam-based fluids. This alternative utilizes less water and could assist companies in addressing concerns over ecological effects of fracturing.

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North America, Europe, Africa, Asia Pacific and Middle East are the major geographic regions in the market. Augmented fracturing activities to boost extraction of gas and oil from North American reserves is poised to drive regional market. Asia Pacific is projected to register fastest growth over the forecast period on account of rapid technological advancements and high demand for energy resources.

Socioeconomic and industrial growth in emerging economies is driving the fracking fluids market in Asia-Pacific, Africa, and Latin America. Cross-linker, biocide, corrosion inhibitor, gelling agent, adjusting agent, surfactant, friction reducer, breaker, clay stabilizer, pH adjusting agent, and acids and scale inhibitors are some of the prominent types of liquid bases used in the industry. Fracking is performed on the basis of foam-, water-, and gelling oil-based fluids.

Some of the key players in the global fracking fluid and chemicals market are Akzo Nobel, FTS International, Baker Hughes, Calfrac Well Services, Trican Well Services, Clariant, BASF, Dow Chemical, Halliburton, Albemarle, Chevron Phillips Chemical, Weatherford, Solvay and DuPont. Key companies are Baker Hughes, Schlumberger, and Halliburton. All of these companies are integrating their business processes to develop fracking fluids and chemicals. Hands-on knowledge of top players in hydraulic fracturing gives them the advantage to produce the most suitable materials.

The market is highly fragmented on account of a vast number of industry players. However, it is strengthened by the top three companies capturing the larger share of the overall market. The fracking products are processed further by the hydraulic fracturing service providers themselves through vertical integration or are resourced from chemical manufacturers. The market is highly fragmented on account of a vast number of industry players.

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