Fracking Chemicals and Fluids Market

Market Overview:

The global fracking chemicals and fluids market size reached US$ 41.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.

Fracking, also known as hydraulic fracturing, is the process of injecting chemicals and fluids underground to create fissures and extract oil and natural gas. These fluids are commonly known as frac fluids or hydraulic-fracturing fluids and are composed of majorly of frac sand and water, with a small percentage of chemical additives. They are injected into the bedrock formation for creating new fractures in the rock and increasing the size, extent and connectivity of existing fractures. Different chemicals are used to perform various functions in hydraulic fracturing, depending on the required characteristics. Some of these functions include friction reducers, corrosion and scale inhibitors, gelling agents, surfactants, clay stabilizers, and biocides.

Fracking chemicals and fluids assist in carrying proppant solutions to the desired formation, improving gel strength, reducing friction and retaining the viscosity of the fluid at high temperatures. As hydraulic fracturing helps in reaching previously inaccessible oil and gas reserves, there is a rise in the demand for fracking chemicals and fluids across the globe. Moreover, the growing consumption of energy in emerging regions, such as Asia and Africa, is resulting in the escalating demand for natural gas and rising development in offshore activities, which in turn is driving the market growth. Apart from this, owing to the growing environmental concerns, several manufacturers in the industry are investing in research and development (R&D) activities to produce environment-friendly fluids and chemicals.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fracking chemicals and fluids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, well type and function type.

Breakup by Type:

• Water-Based
• Foam-Based
• Gelled Oil-Based
• Others
   

Breakup by Well Type:

• Horizontal Wells
• Vertical Wells
   

Breakup by Function Type:

• Gelling Agent
• Friction Reducer
• Surfactant
• Scale Inhibitor
• Clay Stabilizer
• Acid
• Cross-Linkers
• Breaker
• Ph Adjusting Agent
• Iron Control Agent
• Corrosion Inhibitor
• Biocide
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the Key Players being Akzo Nobel N.V., Albermarle Corporation, Ashland Inc., Baker Hughes Incorporated, BASF SE, Calfrac Well Services Ltd., Chevron Phillips Chemical Company, Clariant International Ltd., E.I. du Pont de Nemours and Company, FTS International, Halliburton Company, Pioneer Engineering Services, Schlumberger Ltd., The Dow Chemical Company, Weatherford International, etc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global fracking chemicals and fluids market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global fracking chemicals and fluids market?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the well type?
• What is the breakup of the market based on the function type?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global fracking chemicals and fluids market and who are the key players?
• What is the degree of competition in the industry?