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.
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or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/fracking-chemicals-fluid-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.
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Russia
·
Asia Pacific
o
China
o
Australia
·
Central & South America
o
Brazil
o
Argentina
·
Middle East & Africa
o
Algeria
o
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.
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