According to the latest report by IMARC Group, titled “Fracking Chemicals and Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global fracking chemicals and fluids market size reached US$ 41.8 Billion in 2022. Fracking chemicals and fluids are specially engineered compounds used in hydraulic fracturing, a technique implemented to extract natural gas, petroleum, and brine from deep rock formations. Hydraulic fracturing, or fracking, involves injecting high-pressure fluids into a wellbore to create cracks in deep-rock formations, enabling the migration of natural gas or oil toward the well. It is a mix of water, proppants and various chemicals that serve to reduce friction, prevent corrosion of equipment, stabilize the product, and control pH levels. As a result, these fracking chemicals and fluids are an integral part of the global oil and gas industry, assisting in the extraction of hydrocarbons from reservoirs where traditional methods are ineffective, thereby contributing to global energy supplies.
Global Fracking Chemicals and Fluids Market Trends:
The global fracking chemicals and fluids market is currently witnessing significant growth, propelled by the escalating demand for energy, which necessitates an increase in oil and gas exploration activities. Along with this, continual advancements in fracking technology and the discovery of new reserves in unconventional terrains are significantly contributing to market expansion. Moreover, the development and adoption of innovative, high-performance fracking fluids, designed to enhance operational efficiency and reduce environmental impact, are stimulating market growth. In addition, an emergent trend in the market is the rising utilization of green chemicals, offering a reduced ecological footprint, in line with global sustainability trends. Apart from this, strategic partnerships, mergers, and acquisitions among key players are leading to the consolidation of the market, while increased research and development (R&D) activities aim at reducing costs and improving the effectiveness of fracking fluids. Furthermore, regulatory policies concerning environmental and health hazards associated with fracking operations are creating a positive market outlook. Looking forward, the market value is projected to reach US$ Looking forward, the market value is projected to reach US$ 70.6 Billion by 2028, expanding at a CAGR of 9% during 2023-2028.
- Based on the type, the market has been segmented into water-based, foam-based, gelled oil-based, and others.
- On the basis of the well type, the market has been divided into horizontal and vertical wells.
- Based on the function type, the market has been segregated into gelling agent, friction reducer, surfactant, scale inhibitor, clay stabilizer, acid, cross-linkers, breaker, ph adjusting agent, iron control agent, corrosion inhibitor, biocide, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market 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 and Weatherford International.
|Base Year of the Analysis
||Type, Well Type, Function Type, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Weatherford International
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800