Dissolvable Frac Plugs Market 2020 Company Profiles, Trends by Types and Application, Operating Business Segments 2028 | Baker Hughes, Haliburton Company, KLX Energy Services, Kureha Corporation, Innovex Downhole Solutions, Inc

Global Dissolvable Frac Plugs Market Projected to Grow due to High Demand from Oil & Gas Sector

The increase in production and consumption of natural gas is likely to boost the competition among oil & gas companies across the globe in the next few years. Increased competition is projected to prompt companies to improve their overall operations in the near future. This is anticipated to drive the demand for dissolvable frac plugs across the world, due to significant cost savings led by use of dissolvable frac plugs.

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Key Takeaways of the Dissolvable Frac Plugs Market Study

North America is one of the leading consumers of dissolvable frac plugs. Increase in the demand for natural gas across the globe and rise in the market competition in the region are anticipated to drive the dissolvable frac plug market in North America in the near future.
Rise in investments in the field of oil & gas and discovery of new oil and gas reserves are anticipated to drive for the global dissolvable frac plugs market during the forecast period
Increase in the demand for energy across the globe and rise in population are driving the demand for fossil fuels such as natural gas and crude oil.
On the basis of material type, it is segmented into Mg (Magnesium) alloys and PGA (Polyglycolic Acid). Mg alloys are the materials of which is generally opted for dissolvable frac plugs, owing to their properties, such as reliable dissolution rate at different temperatures and pressure brine, high toughness, strength, and hardness.
Based on well type, it is segmented on the basis of horizontal well and vertical well. A horizontal well makes use of a large number of frac plugs and balls, which leads to the optimum gas production from wells. Whereas in the case of vertical wells, a very small amount of gas can be extracted as compared to horizontal well.
On the basis of the sales channel, it is segmented into a direct sales channel and distributor sales channel. The direct sales are more dominant as the market is in the nascent stage and is not being widely distributed at present and hence, major companies are generally selling dissolvable frac plugs directly to customers.
North America is one of the leading consumers of dissolvable frac plugs. Increase in the demand for natural gas across the globe and rise in the market competition in the region are anticipated to drive the dissolvable frac plug market in North America in the near future.

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Notable Development Trends to Open up New Horizons of Growth for Dissolvable Frac Plugs Market

The leading companies in the market focus on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period.

June 11, 2018 – Terves Inc. has launched of the oil and gas industry’s first intelligent frac ball and chemical pill product line. SmartCore products utilize a dissolvable carrier, such as a frac plug, frac ball,or other fracking tools, to deliver well control chemicals, including gel breakers, dissolution accelerators, and wellbore clean-up chemicals.
October 29, 2018 – Halliburton Company (NYSE: HAL) today released the Illusion® Spire, the first fluid efficient dissolvable frac plug.

Major points covered in the report:

Macroeconomic factors affecting the Dissolvable Frac Plugs market and its potential
Dissolvable Frac Plugs Market dynamics, such as drivers, challenges, and trends
Detailed value chain analysis of the Dissolvable Frac Plugs market
The cost structure of the products and segments covered in the study
key product segments, regions and by major market participants are analyzed
Analysis of demand and supply, such as top manufacturing and consuming regions, overall trade scenario with imports/exports details
Analysis of the market structure, including a tier-wise categorization of key market participants

Competitive landscape of the Dissolvable Frac Plugs market, including detailed profiles of the top players in this market
Some of the major players in the Dissolvable Frac Plugs market are Baker Hughes, Haliburton Company, KLX Energy Services, Kureha Corporation, Innovex Downhole Solutions, Inc., Nine Energy Service, Inc., Schlumberger Limited, and Maverick Downhole Technologies Inc.

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Market Segmentation:
By Material Type:
• Magnesium Alloys
• Poly Glycolic Acid

By Well Type :
• Horizontal Well
• Vertical Well

By Sales Channel :
• Direct Sales
• Distributor Sales

By Region:
• North America
◦ By Country (US, Canada, Mexico)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

• Western Europe:
◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

• Eastern Europe:
◦ By Country (Russia, Turkey, Rest of Eastern Europe)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

• Asia Pacific
◦ By Country (China, Japan, India, Rest of Asia Pacific)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

• Middle East:
◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

• Rest of the World
◦ By Region (South America, Africa)
◦ By Material Type
◦ By Well Type
◦ By Sales Channel

Reasons To Buy This Report:
• Market size estimation of the global dissolvable frac plugs market on a regional and global basis
• Unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

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