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Fracking Fluids And Chemicals Market Estimated to Expand at a Robust CAGR over 2025
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The changing trend of drilling wells towards horizontal drilling is expected to drive the growth of global market for fracking fluids and chemicals. Over the recent past, there has been a significant increase in horizontal fracking activity. This activity necessitates a relatively larger amount of fracking fluids and chemicals. As such, the demand for fracking fluids and chemical has witnessed a steady growth. The trend is expected to continue over the forecast period. The increasing demand for energy needs more exploration which in turn results in increasing demand for fracking fluids and chemicals. Backflow of the water or fracking fluid to the surface contaminates the surface and ground water. Thus, strict environmental regulations and alternatives to fracking fluids are major factors that are expected to restrain the growth of fracking fluids and chemicals market during the forecast period.
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The global fracking fluids and chemical market is segmented into seven geographical regions namely North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Asia-Pacific (excluding Japan) and Japan. Increasing oil & gas exploration activity in North America has resulted in the region accounting for a largest share in global fracking fluid and chemical market. Although hydraulic fracturing activity is relatively slower in Asia Pacific region, the region is expected to register a robust growth over the forecast period.
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