What is the Historical Analysis of the Fracking Chemicals And Fluids Market Size?
The fracking chemicals and fluids market has seen considerable growth due to a variety of factors.
•There has been a sharp increase in the size of the fracking chemicals and fluids market in the recent past. The market, valued at $47.49 billion in 2024, is projected to surge to $52.56 billion in 2025, marking an impressive compound annual growth rate (CAGR) of 10.7%.
Factors contributing to this growth during the historical period include a surge in shale exploration, expansion in unconventional oil and gas extraction, increased demands for energy worldwide, supportive government policies, and the oscillations in the prices of oil and gas.
What is the Forecasted Growth of the Fracking Chemicals And Fluids Market Size?
The fracking chemicals and fluids market is expected to maintain its strong growth trajectory in upcoming years.
• Rapid expansion is foreseen in the subsequent years for the fracking chemicals and fluids market, which is projected to surge to a value of $78.44 billion in 2029, with a compound annual growth rate (CAGR) of 10.5%.
The predicted growth is attributed to numerous factors including the broadening of hydraulic fracturing activities, high energy resource demand, a boost in the exploration of non-traditional reserves, legal backing for shale gas extraction, and the impact of geopolitical elements on energy markets. Trends anticipated during the forecast period encompass consistent fracking fluid formulations, the recycling and repurposing of fracking fluids, the creation of environmentally conscious fracking chemicals, heightened interest in waterless fracking technologies, and the integration of digital technologies in reservoir monitoring.
What Are The Primary Growth Drivers In The Fracking Chemicals And Fluids Market?
The growth of the fracking chemicals and fluids market is anticipated to be fuelled by the escalating oilfield production. The term 'oilfield production' denotes the process of withdrawal of crude oil and natural gas from underground reservoirs and their subsequent surface-level refinement and distribution. The critical role of fracking chemicals and fluids in oilfield production can be seen in their facilitation of oil and natural gas extraction via hydraulic fracturing from subterranean reservoirs. As reported by the France-based autonomous intergovernmental organization, International Energy Agency, in June 2023, by 2028, the world's oil need is projected to touch 105.7 million barrels per day (mb/d), representing a 6% aggregate rise from the figures of 2022. Consequently, mounting oilfield production is pivotal to the drive of the fracking chemicals and fluids market.
What Is The Segmentation Of The Global Fracking Chemicals And Fluids Market?
The fracking chemicals and fluids market covered in this report is segmented –
1) By Product: Water Based Fluids, Oil Based Fluids, Synthetic Based Fluids, Foam Based Fluids
2) By Well: Horizontal Well, Vertical Well, Directional Well
3) By Function: Friction Reducer, Biocides, Clay Control Agent, Gelling Agent, Cross-Linkers, Breakers, Buffers, Surfactants, Other Functions
Subsegments:
1) By Water-Based Fluids: Crosslinked Gel Fluids, Non-Crosslinked Gel Fluids, Water-Base Polymer Fluids
2) By Oil-Based Fluids: Oil-Based Emulsions, Oil-Based Gels
3) By Synthetic-Based Fluids: Synthetic Oil-Based Fluids, Synthetic Polymer Fluids
4) By Foam-Based Fluids: Dry Foam Fluids, Liquid Foam Fluids
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What Emerging Trends Are Shaping The Fracking Chemicals And Fluids Market Landscape?
A leading trend gaining traction within the fracking chemicals and fluids sector is product innovation. In order to maintain their market stance, principal corporations in this realm are turning towards novel, inventive products. An example of this is seen in May 2022 when SPM Oil & Gas Inc., an American firm specializing in engineered mechanical and rotating equipment, unveiled the SPM Simplified Frac Iron System. This system revolutionises the hydraulic fracturing process by consolidating the traditionally disjointed process native to conventional ground iron, thus boosting operation efficiency at fracturing sites. The design replaces a multitude of tie-in lines with one large-bore inlet connecting to the zipper manifold, thus necessitating fewer turns and connections.
Who Are the Key Players in the Fracking Chemicals And Fluids Market?
Major companies operating in the fracking chemicals and fluids market include:
• BASF SE
• The Dow Chemical Company
• Schlumberger Ltd.
• Baker Hughes Ltd.
• Halliburton Company
• Ecolab Inc.
• DuPont de Nemours Inc.
• Huntsman Corporation
• Albemarle Corporation
• Clariant International Ltd.
• Lubrizol Corporation
• Weatherford International plc
• Kemira Oyj
• Stepan Company
• Croda International plc
• Ashland Global Holdings Inc.
• Innospec Inc.
• ProPetro Holding Corp.
• Calfrac Well Services Ltd.
• SNF Group
• Nine Energy Service Inc.
• TETRA Technologies Inc.
• FTS International Inc.
• Carbo Ceramics Inc.
• Chevron Phillips Chemical Company LLC
• ProChemTech International Inc.
• Pioneer Oil Companies Inc.
• Keane Group Inc.
• C&J Energy Services Inc.
What are the Regional Insights into the Fracking Chemicals And Fluids Market?
North America was the largest region in the fracking chemicals and fluids market in 2024. The regions covered in the fracking chemicals and fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
