Fracking Chemicals Market, [By Well Type (Horizontal Wells, Vertical Wells); By Function (Gelling Agent, Friction Reducer, Clay Control Agent, Cross-Linkers, Corrosion Inhibitor, Surfactant, PH Adjusting Agent, Others); By Fluid Type (Foam-Based Fluids, Water-Based Fluids, Oil-Based Fluids, Others); By Region]: Market Size & Forecast, 2018 – 2026
New York, NY -- (SBWIRE) -- 10/12/2018 -- The global fracking chemicals market generated USD 25.2 billion in 2017 and is anticipated to grow at a CAGR of more than 11.0% during the forecast period.
Fracking chemicals are used in drilling operations for increasing the quantity of hydrocarbons to be extracted. The fracking chemicals prevent corrosion of the well, while acting as a lubricant in the extraction process, and preventing clogs and bacterial growth. Fracking chemicals offer various functions such as carrier, biocides, scale inhibitors, solvents, friction reducers, additives, corrosion inhibitors, and non-ionic surfactants among others.
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The increasing demand for energy, and growing trend of horizontal drilling compels the use of fracking chemicals. The rising demand for electricity and fuel sources, and growing adoption for natural gas as a fuel source supports the growth of the fracking chemicals market. The growing industrialization, significant investments in research and development, and development of environment-friendly fracking chemicals are factors expected to further boost the fracking chemicals market during the forecast period. Growing demand from emerging economies, and increasing government support are factors expected to provide numerous growth opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Fracking Chemicals Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 in the global fracking chemicals owing to increasing industrialization, and growing drilling sector. Increasing energy demand from countries of this region, growing shale gas explorations, increasing demand for natural gas as fuel, and technological advancements are further expected to support market growth.
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Competitive Landscape and Key Vendors
The global Fracking Chemicals market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Halliburton Co., E.I. Dupont De Nemours & Co., BASF SE, Chevron Phillips Chemical Company, Baker Hughes Incorporated, The DOW Chemical Company, Calfrac Well Services Ltd., Albermarle Corporation, Akzo Nobel N.V., and Schlumberger Ltd.
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- Horizontal Wells
- Vertical Wells
- Gelling Agent
- Friction Reducer
- Clay Control Agent
- Corrosion Inhibitor
- PH Adjusting Agent
- Foam-Based Fluids
- Water-Based Fluids
- Oil-Based Fluids
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