The Global Fracking Fluid and Chemical Market size is expected to reach USD 5.4 billion by 2028 and will grow at 5.1% CAGR from 2021-2028. This market has been witnessing rapid growth in the last few years due to rising demand for shale gas exploration and production. In the North American region, there are various companies that have been actively involved in developing shale gas reserves. However, this industry faces several challenges such as environmental concerns and social licensing issues which may hamper its growth over the next few years.
Fracking fluid is a chemical mixture that enables the production of oil and gas from shale formations. It's usually composed mostly of water, sand, or some other type of proppant, plus additives to make it gel when pumped underground so that cracks are created in the rock formation. These fluids can also contain various chemicals such as acidizing agents for corrosion prevention.
On the basis of Type, the market is segmented into Water Based Fluids, Oil Based Fluids, Synthetic Based Fluids, and Foam Based Fluid. The Water Based Fluids segment accounted for the largest share of the market in 2017 owing to its wide application span as a friction reducer, clay controlent, or gelling agent.
Water-based fluids are used in the fracking process as primary fluid. The main function of this type is to retrieve gas, oil, and other hydrocarbons from deep inside shale deposits by injecting water at very high pressure into these formations. This causes fractures that release petroleum products from tight rock or sandstone which cannot be extracted using conventional techniques such as drilling.
The efficacy of water-based fluids can eventually decline over time due to breakdown in the wellbore caused by changing underground conditions (such as lower pressures). They also tend to carry toxic substances found naturally occurring underground, like radium salts; radioactive material created during uranium mining; residual chemicals added for various purposes including corrosion prevention under acidic environments or aiding chemical reactions between dissimilar rocks, or for the purpose of reducing friction.
Oil-based fluids are used to control the flow of oil and natural gas from wells so that they can be collected. They typically have a high viscosity index and low pour point with less than four percent water content. Oil-based fracking fluids consist mostly of petroleum distillates such as pentanes or hexane for their light-tight properties. The chemicals in these oils are then mixed with additives before they're injected into the rock at high pressure to release trapped hydrocarbons.
Oil-based fluids are more effective than water-based ones as they do not break down over time and can be used under a wider range of conditions but may carry higher levels of toxic substances.
Synthetic-based fluids are used in the hydraulic fracturing process to enhance well productivity. They include fluid loss additives, gel-based treatments, and crosslinkers that help reinvigorate natural gas wells. These fluids are used to create a viscous fluid that helps with the pumping of wells. Cementing agents and drill breakers are also classified under synthetic-based fluids.
Synthetic-based fluids have similar performance characteristics to oil-based fluids without carrying significant quantities of hazardous materials; however, their use is limited by high prices relative to other types.
Foam-based fluids are a type of fracking fluid that can be used in applications such as friction reducer, clay controlent, gellingents, cross-linkers, and breakers. It is composed of air or nitrogen gas which causes the frac fluid to form bubbles after being injected into the wellbore. These bubbles will fill up any voids between subsurface rock layers so that they do not interfere with hydraulic fracturing operations. For example, when two different pieces of porous material like rocks are separated by an area filled with liquid there is usually some degree of drag on the materials because liquids resist motion and prevent a complete separation between them.
Foam base fluids are mainly being developed as alternatives to liquids that may contain heavy metals that present an environmental hazard in case any spills occur during drilling operations and also offer better hydrostatic control due to foam’s ability to suppress pressure surges from wellbore failures compared with liquid-based products.
On the basis of Application, the market is segmented into friction reducers, clay controlents, gelling fluids, cross-linkers, and breakers. Friction reducer is the largest segment of the market that accounted for over 60% of revenue in 2018 whereas Clay Controlent was its fastest-growing type during the forecast period (2021 to 2028).
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific market is anticipated to register the highest CAGR, owing to its comparatively low production cost and rapid growth in market size.
The European market is anticipated to register the second-highest CAGR, owing to its technological advancements and increased demand from drilling companies. The Middle East & Africa market is expected to have a significant share of oil-based fluid which will increase during the forecast period due to high production costs across regions.
Up Market Research published a new report titled “Fracking Fluid and Chemical Market research report which is segmented by Types (Water based fluids, Oil based fluids, Synthetic based fluids, Foam based fluids), By Applications (Friction reducer, Clay controlent, Gellingent, Cross-linkers, Breakers, Others), By Players/Companies GE(Baker Hughes), Schlumberger, Ashland, Weatherford International, Halliburton, BASF, Chevron Phillips Chemical, Albemarle, Clariant, AkzoNobel, Calfrac Well Services, FTS International, Dow Chemical, EOG Resources, Dupont, Pioneer Natural Resources”.
|Report Attributes||Report Details|
|Report Title||Fracking Fluid and Chemical Market Research Report|
|By Type||Water based fluids, Oil based fluids, Synthetic based fluids, Foam based fluids|
|By Application||Friction reducer, Clay controlent, Gellingent, Cross-linkers, Breakers, Others|
|By Companies||GE(Baker Hughes), Schlumberger, Ashland, Weatherford International, Halliburton, BASF, Chevron Phillips Chemical, Albemarle, Clariant, AkzoNobel, Calfrac Well Services, FTS International, Dow Chemical, EOG Resources, Dupont, Pioneer Natural Resources|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||201|
|Number of Tables & Figures||141|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Water based fluids, Oil based fluids, Synthetic based fluids, Foam based fluids and By Application Friction reducer, Clay controlent, Gellingent, Cross-linkers, Breakers, Others.
Some of the companies that are profiled in this report are:
Fracking Fluid and Chemical Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Fracking Fluid and Chemical Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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