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Global Fracking Fluids and Chemicals Market Report (2022 to 2027) - by Fluid Type, Well Type, Application and Geography

Research and Markets
·6-min read
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Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Global Fracking Fluids and Chemicals Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.

The global fracking fluids and chemicals market is expected to grow rapidly, owing to a shift in drilling wells from vertical to horizontal drilling, an increase in research and development initiatives for manufacturing environmentally friendly fluids and chemicals and expanding demand for power and fuels.

Fracking fluid is a chemical combination used in drilling operations to increase the number of hydrocarbons that may be extracted. The fluid protects the well against deterioration. Among other things, it lubricates the extraction process and avoids blockages and bacterial growth.

After oil and gas resource drilling is done, hydraulic fracturing fluid and chemicals are used. The conventional or non-conventional composition of oil and gas well fracturing involves adding fluid and chemicals to stimulate the oil and gas well. Hydraulic fracturing has allowed older oil and gas fields with high production rates to produce oil and gas more effectively. Hydraulic fracturing can also be employed to recover oil and gas from geological compositions that were previously impossible to reach. Fracking fluid and chemicals also help maintain stability by reducing pressure loss caused by friction.

Growth Drivers

The rising consumption of natural gas is predicted to be a major driver of growth in the worldwide fracking fluid and chemicals industry. Chemicals for fracking are blended with various additives based on the needs of the fracturing operation. As the drilling operation progresses, additives such as enzymes and oxidizers are inserted to allow fluid backflow. By weakening the gelling effect, oxidizers and enzymes reduce the viscosity of the fracturing fluid. Natural gas is commonly used in residential and commercial locations, primarily for heating.

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However, natural gas is also used as a raw material in the industrial sector, for example, by fertilizer producers. The electrical industry is anticipated to be the primary user of natural gas. Natural gas is predicted to supply the world's growing electricity demand while emitting less CO2 than coal. Over the projected period, the market is likely to be driven by an increase in the usage of unconventional gas and oil resources such as shale and CBM.

Restraints

The global market is expected to be hampered by strong opposition because of the detrimental effects of hydraulic fracturing on the environment. Climate change, air pollution, increased earthquake risk, increased water usage, and water contamination are expected to be just a few of the market's main challenges.

The fracking fluid used has many harmful effects on the environment, due to which the usage of fracking fluid and chemicals is expected to impact the growth of the market. Hydraulic fracturing has been subject to stringent laws in several countries. This issue is also predicted to pose some challenges to market expansion.

Global Fracking Fluid and Chemical Market Types

Water-based, foam-based, gelled-oil-based, and other segments make up the market. The growth of water-based fracking fluid is high during the forecasted period. The variables linked to the expansion of water-based are due to a growing awareness of fracking fluid toxicity and biodegradation. The main growth factor of water-based fracking fluid is expected to be its quality to avoid transmission loss and avoid erosion of weak formation rock.

COVID-19 Impact

The global Coronavirus (COVID-19) epidemic has impacted every aspect of life. Several changes in market conditions have resulted as an outcome of this. The COVID-19 epidemic prompted the imposition of strict lockdown laws, the shutdown of many activities, and travel restrictions in many countries, causing a halt in the import and export of fracking chemicals and fluids.

Regional Analysis

The total market volume is predicted to be dominated by North America. Because the region's drilling sector is well-developed, the region's need for fracking chemicals is likely substantial. The United States, in particular, has well-established drilling and exploration business and is consequently expected to have a major portion of the global market.

Over the forecasted period, it is expected that the Asia Pacific region will develop in terms of revenue owing to growing energy consumption and use and is projected to continue to be a significant driver of market expansion. In the forecasted period, European oilfield production is expected to rise because of oil production opportunities rising in the North Sea. A number of oilfield development projects in unconventional and offshore reserves, as well as a high rate of mud-cap drilling in the region, are expected to benefit the fracking fluid and chemical market globally.

Key Topics Covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. FRACKING FLUIDS AND CHEMICALS MARKET, BY FLUID TYPE
5.1. Water-Based
5.2. Oil Based
5.3. Gelle Based

6. FRACKING FLUIDS AND CHEMICALS MARKET, BY WELL TYPE
6.1. Vertical
6.2. Horizontal

7. FRACKING FLUIDS AND CHEMICALS MARKET, BY APPLICATION
7.1. Friction Reducer
7.2. Gelling Agent
7.3. Scale Inhibitor
7.4. Acid
7.5. Cross Linkers
7.6. Biocide
7.7. Iron Control Agent
7.8. Corrosion Inhibitor

8. FRACKING FLUIDS AND CHEMICALS MARKET, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.2.4. South America
8.2.5. Brazil
8.2.6. Argentina
8.2.7. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. United Kingdom
8.3.4. Spain
8.3.5. Others
8.4. The Middle East and Africa
8.4.1. Saudi Arabia
8.4.2. UAE
8.4.3. Israel
8.4.4. Others
8.5. Asia Pacific
8.5.1. China
8.5.2. India
8.5.3. South Korea
8.5.4. Taiwan
8.5.5. Thailand
8.5.6. Indonesia
8.5.7. Japan
8.5.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES
10.1. Baker Hughes Incorporated
10.2. Halliburton Company
10.3. Schlumberger Ltd.
10.4. E.I. du Pont de Nemours and Company
10.5. Pioneer Engineering Services
10.6. BASF SE

For more information about this report visit https://www.researchandmarkets.com/r/427qsu

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900