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

What is Fracking Fluid & Chemicals Market Size?

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. 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. 

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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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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.

Fracking Fluid & Chemicals Market: Report Scope

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.

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.

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

• Foam-Based Fluids
• Oil-Based Fluids
• Water-Based Fluids
• Synthetic-Based Fluids

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.