Fracking Fluids and Chemicals Market is Driven by USD 18.24 billion by 2029, Consistent Rise in Oil Exploration Activities Across The World

Exactitude Consultancy Market Research analyses that the Fracking Fluid and Chemicals Market will witness a CAGR of 9.9% for the forecast period of 2023-2029 and is likely USD 7.80 billion at 2022 to reach at USD 18.24 billion by 2029.

The global fracking fluids and chemicals market is expected to grow rapidly, owing to a shift in drilling wells from vertical to horizontal drilling, an increase in research and development initiatives for manufacturing environmentally friendly fluids and chemicals and expanding demand for power and fuels.

Fracking fluid is a chemical combination used in drilling operations to increase the number of hydrocarbons that may be extracted. The fluid protects the well against deterioration. Among other things, it lubricates the extraction process and avoids blockages and bacterial growth.

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Market Dynamics

✦ Increasing Oil and Gas Demand Drives the Fracking Fluid and Chemicals Market Growth

The rising demand for oil and gas across the globe, owing to the increasing demand for fuel & energy to support the growing population is the primary driving force of the market. Over the years, the drilling process has also changed from vertical to horizontal. The increasing trend for horizontal drilling is expected to accelerate the market demand. The horizontal drilling technique is preferred to recover the unusual shale reserves with hydraulic fracturing technology.

According to the U.S. Energy Information Administration, hydraulic fracturing from tight oil reserves accounted for the production of 6.44 million barrels of crude oil per day in 2018, or 59 percent of total American production. As of 2015, fracking operations in the U.S. also produced some 53 billion cubic feet of natural gas per day, accounting for more than two-thirds of total domestic production, thereby driving the demand for fracking fluid and chemicals.

✦ Rising Domestic and Global Demand for Energy

Modern hydraulic fracturing combined with horizontal drilling allows multiple wells to be drilled from one spot, reducing the size of the drilling area above ground by as much as 90 percent. Fracking is the key that aids in the extraction of vast shale reserves, freeing up natural gas and oil that previously was inaccessible while protecting groundwater supplies and the environment. The increasing domestic as well as international demand for energy, which in turn results in higher extraction, is expected to bolster the global market growth.

✦ Recent Innovations in the Fracking Fluid and Chemicals Facilitating Higher Consumption

Various companies are focusing on investing substantially in research and development of fracking fluids that are environmentally-friendly and are non-toxic to the groundwater. The oil & gas industry is growing at an exponential rate and is aggressively seeking to expand fracking in new regions. The recent development of foam-based fluid as an alternative to the oil-based fluid is a successful step in this market. The market players are expected to capitalize on the opportunities through foam-based fluids. These alternatives allow the companies to utilize a lesser amount of fresh-water as compared to the traditional fracturing and help companies in addressing global concerns. This opportunity is expected to escalate the growth of the market in the coming future.

✦ Rising Concerns of Toxicities Entering Drinking Water Hampering the Market Growth

Globally, the rising concern about fracking fluid and chemicals being toxic is creating a hindrance to the growth of the market. There have been incidents where the fracking chemical has contaminated freshwater. Additionally, the trending shift from oil & gas to renewable energy sources also poses a threat to the market.

Prominent Key players of the Fracking Fluid and Chemicals Market survey report:

Historical data available in the report elaborates on the development of the Fracking Fluid and Chemicals on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Albemarle Corporation, Ashland Inc., Akzonobel NV, Baker Hughes, Halliburton Co., Schlumberger Ltd., BASF SE, Calfrac Well Services, Chevron Philips Chemical Company, Clariant, EI Du Pont De Nemours, FTS International.

Recent Developments

January 30, 2023:  Albemarle Announced Launch Of Ketjen Corporation.

February 21, 2022: Ashland announced Benecel™ MX 100 methylcellulose for plant-based protein food applications, broadening award-winning product portfolio.

Fracking Fluid and Chemicals Market Segmentation:

Fracking Fluid and Chemicals Market by Product, 2023-2029, (USD Billion, Kilotons)

» Water Based Fluids

» Oil Based Fluids

» Synthetic Based Fluids

» Foam Based Fluids

Fracking Fluid and Chemicals Market by Well Type, 2023-2029, (USD Billion, Kilotons)

» Horizon Well

» Vertical Well

Fracking Fluid and Chemicals Market by Function, 2023-2029, (USD Billion, Kilotons)

» Friction Reducer

» Clay Control Agent

» Gelling Agent

» Cross-Linkers

» Breakers

» Others

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Fracking Fluid and Chemicals Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Fracking Fluid and Chemicals industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Fracking Fluid and Chemicals industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Fracking Fluid and Chemicals Market Research Report 2023-2029

1 Fracking Fluid and Chemicals Market Overview

1.1 Product Overview and Scope of Fracking Fluid and Chemicals

1.2 Fracking Fluid and Chemicals Segment by Type (Product Category)

1.3 Global Fracking Fluid and Chemicals market Segment by Application

1.4 Global Fracking Fluid and Chemicals Market by Region (2023-2029)

1.4.1 Global Fracking Fluid and Chemicals Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Fracking Fluid and Chemicals (2023-2029)

1.5.1 Global Fracking Fluid and Chemicals Revenue Status and Outlook (2023-2029)

1.5.2 Global Fracking Fluid and Chemicals Capacity, Production Status and Outlook (2023-2029)

…

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