Fracking Fluids Market Report

Fracking fluid, also known as frac fluid, is a mixture of chemicals which are used in drilling operations to increase the extraction quantity of hydrocarbons. These fluids also help in preventing the corrosion of well. Fracking fluid greases the extraction process and averts clogs & bacterial growth and other such functions. Various chemical additives are used in a typical fracture treatment depending on the conditions of the well which is used for fracturing. The global market is estimated and forecasted in terms of revenue (USD million) generated by the fracking fluids market. The global fracking fluids market is observing sustainable growth owing to increasing energy demand because of the rising industrialization. Moreover, the overall market is also being propelled by energy shift toward gas as a transitional fuel. The market is further boosted by the development of advanced chemicals for fracking fluids and energy security offered by domestic supply of natural gas worldwide. Use of waterless fracturing-foams would further provide significant growth opportunities to this market in the future. However, the global fracking fluids market is hindered by water availability and contamination concerns. The report analyses the global fracking fluids market based on fluid type, well type, function type and geography. Based on fluid type, the market is segmented into water based fluids, oil based fluids, synthetic based fluids, foam based fluids and other base fluids. Among all fluid types, the water based fluids accounted for the largest market share of the fracking fluids market in 2017. This growth is attributed to increasing use of water based fluids in various applications and cost effectiveness. Based on well type, this market is categorized into horizontal and vertical. Among these, the horizontal segment accounted for the largest share in 2017 and is also projected to grow at the highest CAGR during the forecast period. The horizontal well drilling is used to extract oil & gas resources, thus covering a large surface area and surging the production rate of gas and thereby boosting the segment growth. Moreover, based on function type, this market is categorized into gelling agent, friction reducer, surfactant, scale inhibitor, clay stabilizer, acid, cross-linkers, breaker, pH adjusting agent, iron control agent, corrosion inhibitor, biocide and other fracking chemicals. Among these, the pH adjusting agent segment accounted for the largest share in 2017, due to increasing applications of these agents in various drilling activities worldwide. By geography, the global fracking fluids market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa. North America accounted for the largest share in 2017, followed by Europe and Asia-Pacific. In addition to this, North America is also projected to grow at a lucrative growth rate over the estimate period, owing to growth in fracking activities for oil & gas reserves. Furthermore, rise in the hydraulic fracturing of the shale oil & gas reserves are the key growth drivers for fracking fluids in this region. Countries such as China and Japan are witnessing substantial growth in the fracking fluids market. Increasing activities for expansion and extraction of oil & gas from Asian unconventional shale reserves are likely to boost the market over the coming years. The leading market players of the global fracking fluids market include BASF SE, AkzoNobel N.V., Albemarle Corporation, Ashland Inc., Baker Hughes, Calfrac Well Services Ltd., Chevron Phillips Chemical Company, Clariant International Ltd., DowDuPont, FTS International, Halliburton Co. and Schlumberger Limited among others. Collaborations and geographic expansions are the key growth strategies adopted by the major players to reinforce their positions in the international market.