Dissolvable Frac Plugs Market is Forecasted to Reach US$ 2,468.9 million in 2028, Says Stratview Research

The global Dissolvable Frac Plugs Market is projected to witness a growth rate of 15.5% annually from 2023 to 2028, with an anticipated size of US$ 2,468.9 million in 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Dissolvable Frac Plugs Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/491/dissolvable-frac-plugs-market.html#form

Report Highlights: `
Market Size in 2028: US$ 2,468.9 million
Growth (CAGR): 15.5% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Dissolvable Frac Plugs Market:
The global Dissolvable Frac Plugs Market is segmented Material Type, Well Type, Sales Type & Region

Based on material type: The dissolvable frac plugs market is segmented into polyglycolic acid and magnesium alloys. Magnesium (Mg) alloys are expected to remain the most preferred material during the forecast period and are also likely to exhibit faster growth in the same period. Mg alloy is the material of choice for dissolvable frac plugs, owing to their properties, such as reliable dissolution rate at different temperatures and pressure brines, high toughness, strength, and hardness. Magnesium alloy is gaining popularity in the dissolvable frac plugs market due to its rapid dissolution rates, making it suitable for precise wellbore isolation. Its ability to dissolve in various downhole fluids, such as brine or produced water, offers efficient and reliable performance, contributing to the growth of dissolvable frac plug adoption in oil & gas operations.

Based on well type: The market is segmented into horizontal wells and vertical wells. Horizontal well is expected to remain the dominant well type in the dissolvable frac plugs market during the forecast period. Horizontal wells are majorly used for drilling extended reach and long lateral areas where a vertical well is of no worth. Many frac plugs are deployed in horizontal wells, which leads to optimum gas production from wells, whereas in the case of vertical wells, very small amounts of gas can be extracted as compared to horizontal wells. The necessity for effective and affordable well-completion solutions drives interest in dissolvable frac plugs in horizontal wells. Dissolvable frac plugs help horizontal wells, which are extensively employed in traditional oil & gas fields, since they reduce the requirement for plug retrieval procedures, conserving time, and resources. Because of their propensity to dissolve and disintegrate in the wellbore surroundings, dissolvable frac plugs are well-suited for vertical uses, improving well performance and simplifying the completion process.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis Americas is projected to remain the largest dissolvable frac plugs market during the forecast period in terms of both value and volume. This growth outlook is majorly attributed to the following-
• The USA is the growth engine for the Americas' market where dissolvable frac plugs have been in the run in all the major shale basins such as the Permian Basin, Eagle Ford, Williston Basin, and South-Central Oklahoma Oil Province.
• Canada is another key market in the Americas, whereas Argentina is likely to be an emerging market with excellent growth expected soon.
• There is a growing demand for effective well-completion and stimulation methods as research and production operations develop in nations such as the USA, Canada, and Argentina.
• Dissolvable plugs provide benefits like lower intervention costs and increased healthy productivity, making them an ideal choice for American operators looking to optimize their hydraulic fracturing operations.

Dissolvable Frac Plugs Market Drivers:
The growth of the Dissolvable Frac Plugs Market is driven by several factors.
• These include an increase in oil & gas production, the expected recovery of wells and rigs in the coming years, a rise in the number of frac stages per well, an increase in the share of horizontal wells in overall drilling activities, greater lateral lengths of wells, and reductions in mill-out time and drilling costs.
• In addition to that, the dissolvable frac plugs market is growing due to its ability to reduce operational costs, minimize environmental impact, and enhance efficiency in hydraulic fracturing. With technological advancements and increased adoption of multi-stage fracturing, these plugs are becoming essential tools for good completion in the oil & gas industry.

Top 10 Companies in the Dissolvable Frac Plugs Market:
Stratview Research has identified the following companies as the top market players:
• Halliburton Company
• Nine Energy Services Inc.
• Schlumberger NV
• NCS Multistage
• NexTier Oilfield Solutions
• KLX Energy Services Holdings
• Innovex Downhole Solutions, Inc.
• Weatherford International plc
• Baker Hughes Company
• Downhole Technology LLC

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Dissolvable Frac Plugs Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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• Spoolable Pipe Market: https://www.stratviewresearch.com/142/spoolable-pipe-market.html

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