Fracking Fluid & Chemicals Market Size, Share, Industry Analysis, Trends, Growth, 2030

Fracking Fluid & Chemicals Market

Fracking Fluid & Chemicals Market - By Functionality (Friction Reducer, Surfactants, Breakers, Biocides, Buffers, Clay Control Agent, Cross-Linkers, And Others) By Product (Foam-Based Fluids, Oil-Based Fluids, Water-Based Fluids, And Synthetic-Based Fluids), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Category: Chemical & Materials Report Format : PDF Report Code: ZMR-1480 Status : Upcoming
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 33.61 Billion USD 55.99 Billion 6.59% 2022

Fracking Fluid & Chemicals Market

Description

Fracking Fluid & Chemicals Industry Prospective:

The global fracking fluid & chemicals market size was worth around USD 33.61 Billion in 2022 and is predicted to grow to around USD 55.99 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.59% between 2023 and 2030.

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The report analyzes the global fracking fluid & chemicals market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fracking fluid & chemicals industry. 

Global Fracking Fluid & Chemicals Market: Overview

Fracking fluid is a mixture of chemicals that is used during drilling operations to enhance the number of hydrocarbons during extraction. It helps prevent the corrosion of the well. Fracking fluid & chemicals provide lubrication during the extraction process and also restrict the growth of the bacteria and clogs. It is used in the hydraulic fracturing process. Hydraulic fracturing is a process of breaking underground rock by releasing fluid, additives, and sand at high pressure to release natural gas and oil. Hydraulic fracturing also allows access to clean energy. Fracking fluid & chemicals assist in reducing pressure loss which is caused by friction and maintain stability. Fracking fluids & chemicals perform various functions such as maintaining the viscosity of the fluid, dissolving minerals, preventing scale deposition, preventing corrosion, and stabilizing the product.

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Global Fracking Fluid & Chemicals Market: Growth Factors

The changing trend towards horizontal drilling is expected to drive the global fracking fluid & chemicals market in the future. Horizontal drilling provides a mechanism to recover unconventional shale reserves with the help of hydraulic fracturing techniques. Over the last few years, there has been significant growth in horizontal fracking activity which is expected to propel the market. Horizontal fracking activity requires lots of fracking fluids and chemicals as compared to vertical drilling, thus witnessing steady growth of the market. Growing demand for energy leads to rising demand for fracking fluids and chemicals thus positively influencing the global market. However, backflow of the water may cause surface and groundwater contamination, stringent regulations against the use of fracking fluids, and increasing need for alternatives are restraining the global fracking fluid & chemicals market growth.

Global Fracking Fluid & Chemicals Market: Report Scope

Report Attributes Report Details
Report Name Fracking Fluid & Chemicals Market Research Report
Market Size in 2022 USD 33.61 Billion
Market Forecast in 2030 USD 55.99 Billion
Growth Rate CAGR of 6.59%
Number of Pages 255
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered Akzo Nobel N.V., Pioneer Engineering Services, Halliburton Company, The Dow Chemical Company, Schlumberger Ltd., Baker Hughes Incorporated, BASF SE, and E. I. du Pont de Nemours and Company.
Segments Covered By Functionality, By Product Type, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Fracking Fluid & Chemicals Market: Segmentation

The global fracking fluid & chemicals market is categorized based on functionality such as gelling agents, friction reducers, surfactants, breakers, biocides, buffers, clay control agents, cross-linkers, and others. Based on the product type, the global market is fragmented into foam-based fluids, oil-based fluids, water-based fluids, and synthetic-based fluids.

Global Fracking Fluid & Chemicals Market: Regional Analysis

North America contributes the largest market share in the global market owing to rising oil & gas exploration activities, stable economic growth, and favorable government policies. Countries such as Denmark, Germany, and France have shown potential growth in the fracking fluid and chemicals market. Acceptance of advanced drilling technologies such as horizontal drilling in Europe and the North American region to recover oil and gas positively enhances the market. The latest developments made in finding new fracking chemicals that are eco-friendly are expected to drive market growth. Increasing demand in developing economies such as the Asia-Pacific region for environment-friendly fracking chemicals and fluids will boost the growth of the fracking fluid & chemicals market.

Global Fracking Fluid & Chemicals Market: Competitive Players

Major players in the global fracking fluid & chemicals market are

  • Akzo Nobel N.V. 
  • Pioneer Engineering Services
  • Halliburton Company
  • The Dow Chemical Company
  • Schlumberger Ltd.
  • Baker Hughes Incorporated
  • BASF SE
  • E. I. du Pont de Nemours and Company.

The global fracking fluid & chemicals market is segmented as follows:

By Functionality

  • Friction Reducer
  • Surfactants
  • Breakers
  • Biocides
  • Buffers
  • Clay Control Agent
  • Cross-Linkers
  • And Others

By Product

Global Fracking Fluid & Chemicals Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, ongoing, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

There is a mixture of water, sand, and chemicals that is injected into subsurface rock formations in order to extract oil and natural gas. This mixture is known as fracking fluid, which is an abbreviation for hydraulic fracturing fluid. The chemicals that are included in the fluid serve a variety of functions, including boosting the flow of the fluid, reducing corrosion, and making the fracking process more efficient. The precise composition of fracking fluids, on the other hand, is frequently treated as confidential information and might change depending on the particular requirements of each drilling operation.

Changing trend towards horizontal drilling is expected to drive the global fracking fluid & chemicals market in the future. Horizontal drilling provides a mechanism to recover the unconventional shale reserves with the help of hydraulic fracturing techniques.

According to a study, the global fracking fluid & chemicals market size was worth around USD 33.61 billion in 2022 and is predicted to grow to around USD 55.99 billion by 2030.

The CAGR value of the fracking fluid & chemicals market is expected to be around 6.59% during 2023-2030.

North America contributes the largest market share in the global market owing to rising oil & gas exploration activities, stable economic growth, and favorable government policies.

Major players in the global fracking fluid & chemicals market are Akzo Nobel N.V., Pioneer Engineering Services, Halliburton Company, The Dow Chemical Company, Schlumberger Ltd., Baker Hughes Incorporated, BASF SE, and E. I. du Pont de Nemours and Company.

The report analyzes the global fracking fluid & chemicals market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fracking fluid & chemicals industry.

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