A recent report published by Infinium Global Research on fracking fluid and chemicals market provides an in-depth analysis of segments and sub-segments in the global as well as regional fracking fluid and chemicals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fracking fluid and chemicals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global fracking fluid and chemicals market. According to the report, the global fracking fluid and chemicals market is projected to grow at a CAGR of 4.2% over the forecast period of 2019-2025.
The continuous growing demand for the different types of petroleum-based products for industrial and domestic applications is helping to grow the demand of the fracking fluid and chemical-based products. Fracking fluid is a type of chemical mixture, which is used to increase the amount of hydrocarbon extracted during the extraction activities. Further, it has several applications in the petroleum extraction industry such as it helps to retard the corrosion rate of the well. In Addition, it is used as a surfactant, pH adjusting agent, iron controlling agent, gelling agent, clay inhibitors and for other activities.
The continuous growing focus of every nation in the world to be self-sufficient for energy requirement is forcing them to explore every possible opportunity of conventional energy sources in their area. This factor is boosting the demand for the different type of fracking fluid and chemical-based products, used in the exploration activities. Further, the growing pressure on the oil-exporting countries to produce more to cater the growing demand of the petroleum-based products, as well as maintaining the oil well for the better performance for the long term is facilitating the growth of this market. However, the availability of several substitutes is hampering the growth of this market. Moreover, the growing focus of the Asia-Pacific countries to achieve the self-sufficiency for the fuel requirement is expected to provide a golden opportunity to this market.
Geographically, the fracking fluid and chemicals market is segmented into four regions, namely North America, Europe, the Asia-Pacific, and RoW. North America is the largest player of the fracking fluid and chemicals market, owing to the presence of a large number of the petroleum exploration and refining companies in this region, who are actively engaged in petroleum products exploration activities. The Asia-Pacific’s fracking fluid and chemicals market are expected to grow at the highest CAGR during the forecast period, owing to the increasing government focus to explore and extract the petroleum reserve available inside the country.
The report on global fracking fluid and chemicals market cover segments such as fluid type, well type, and function type. On the basis of fluid type, the sub-markets include slick water-based fluids, foam-based fluids, gelled oil-based fluids, and other base fluids. On the basis of well type, the sub-markets include horizontal wells, and vertical wells. On the basis of function type, the sub-markets include gelling agent, friction reducer, surfactant, scale inhibitor, clay stabilizer, and other function types.
The report provides profiles of the companies in the market such as FTS International, Albemarle Corporation, E. I. du Pont de Nemours and Company, Clariant International Ltd, Chevron Phillips Chemical, Calfrac Well Services Ltd., BASF SE, Schlumberger Limited, Halliburton Company, and Baker Hughes, a GE company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of fracking fluid and chemicals market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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