[FURL=https://www.industryarc.com/Report/16552/fracking-fluid-chemicals-market.html]Fracking Fluid & Chemicals Market[/FURL] size is forecast to reach $52.41 billion by 2025, after growing at a CAGR of 10.10% during 2020-2025. Fracking fluids and chemicals are products that are used in the process of hydraulic fracturing. These chemicals aid in increasing the quantity of hydrocarbons that can be extracted. These products also aid in improving the yield and quality of the final product. The steady rise in oil exploration activities is expected to boost market demand.Key Takeaways
The horizontal and directional wells account for the largest share in the fracking chemicals market, majorly due to the increasing number of horizontally drilled wells in the countries, such as the United States, Canada, China, and Russia.
Alternative fracking technologies, such as waterless fracking, usage of green chemicals, propane gel, and other technologies, are expected to create substantial growth opportunities in the future.
North America dominated the fracking fluid and chemicals market.
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Geography- Segment Analysis
North America dominated the fracking fluid & chemicals market with a share of more than 38%, followed by Asia Pacific and Europe. Demand for fracking chemicals in the United States, the largest market, has been favored by the low breakeven price and technological advancement in hydraulic fracturing. The country has witnessed a shift from vertical to horizontal drilling, with longer lateral lengths and increased number of frac stages per well, coupled with increased fracking fluid consumption per foot. In 2017, the horizontal well count in the United States reached 126,653, representing an increase of around 8.2% over the previous year’s horizontal well count.
China and Indonesia has significant shale gas reserves. However, the fracking activity in the region is currently low. The activities for development and extraction of oil and gas from Asian unconventional shale reserves are projected to increase during the forecast period resulting in the growth of fracking fluids and chemical market.
Drivers – Fracking Fluid & Chemicals Market
The changing trend of drilling wells towards horizontal drilling
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the fracking fluid & chemicals market. In 2019, the market of fracking fluid & chemicals has been consolidated by the top five players accounting for xx% of the share. Major players in the fracking fluid & chemicals market are BASF, Chevron Phillips Chemical, Albemarle, Clariant, AkzoNobel, Calfrac Well Services, FTS International, Dow Chemical Company, EOG Resources, Dupont and Pioneer Natural Resources among others.
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