Fracking Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Well Type (Vertical, Horizontal/Directional), By Fluid Type (Water-based, Foam-based, Cryogenic (Liquid CO2)), By Application (Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, Others), By Region, and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFracking Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Well Type (Vertical, Horizontal/Directional), By Fluid Type (Water-based, Foam-based, Cryogenic (Liquid CO2)), By Application (Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, Others), By Region, and Competition
Global Fracking Chemicals Market is anticipated to relish a staggering growth in the forecast period due to increasing shale exploration and exploitation activities by oil and gas producing majors. The market is growing by leaps and bounds due to emerging demand for shale gas from developing countries. In recent years, there has been a surge in drilling activities of Wild Cat exploratory wells at oil and gas prospective regions. Fracking fluids are a necessity to extract hydrocarbons from tight reservoir fields.
Fracking chemicals are well known for tapping hydrocarbon potential from tight oil-bearing formations beneath the underground. Due to vast amount of hydrocarbon present in the tight conventional oil and gas reservoirs, it becomes important to harness the energy of this huge volume of hydrocarbon accumulated using Unconventional Hydrocarbon extraction technique like Hydraulic Fracturing. This, consequently, requires huge amount of fracking fluids and other chemical additives to aid in the fluidity of petroleum deposits from underground to the surface driving the demand of fracking chemicals.
Rising Fracking Activities and Technological Advancements
Unconventional wells encounter a major challenge like fluid transmissibility with ease when drilled using water-based and oil-based mud. So, they need techniques other than usual trivial methods via which tight formations can be easily exploited. This is where Fracking process comes into the picture. Hydraulic Fracturing or Fracking is an emerging technique where oil is taken out from tight and fine-grained source rocks. Increase in Hydraulic fracturing activities has led to surge in the demand for Fracking chemicals over the forecast period.
Growing Energy Demand from Developing Economies
According to BP Statistical Review of World Energy, the primary energy demand across the globe has increased by 5.8%, in 2021, while consumption of fossil fuel remained at same levels as compared to the historic years which is accounted for the growth of commodity trade market over the forecast period.
Lower Energy Costs and Greater Hydrocarbon Output
Shale gas exploration is required to meet the rising energy demand, which raises the requirement for chemicals and fracking fluids. Compared to vertical drilling, horizontal drilling has a smaller adverse environmental impact. Oil and gas companies can extract the same amounts of oil and gas using a horizontal well as opposed to drilling a dozen or more vertical wells. Switching from vertical drilling to horizontal drilling raises the net income of oil operators due to enhanced hydrocarbon recovery, resulting in lower cost transfer to energy consumers.
Recent Developments
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Market Segmentation
The Global Fracking Chemicals Market is segmented based on Well type, Fluid Type, Application,
By Company
, and Regional Distribution. Based on Well type, the market is further segmented into Vertical and Horizontal/Directional. Based on Fluid Type, the market can be divided into Water-based, Foam-based, and Cryogenic (Liquid CO2). Based on the Application, the market is divided into Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, and Others.Company Profiles
BASF SE, Dow Chemicals Company, Chevron Philips Chemical Corporation, Solvay S.A., Albemarle Corporation, Croda International Plc, Clariant AG, Saudi Basic Industries Corporation, Akzo Nobel N.V. and Innospec Inc. are among the major market players in the Global Fracking Chemicals market
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | · Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Well Type · Fluid Type · Application |
| Regional Scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country Scope | United States, Mexico, Canada, Russia, Norway, United Kingdom, Netherlands, China, Indonesia, India, Malaysia, Australia, Brazil, Colombia, Venezuela, Argentina, South Africa, Saudi Arabia, UAE and Kuwait. |
| Key Companies Profiled | BASF SE, Dow Chemicals Company, Chevron Philips Chemical Corporation, Solvay S.A., Albemarle Corporation, Croda International Plc, CLARIANT, Saudi Basic Industries Corporation, Akzo Nobel N.V., Innospec Inc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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