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Fracking Fluid & Chemicals Market worth 32.4 Billion USD by 2020
The report "Fracking Fluid & Chemicals Market by Chemical Function (Acid, Surfactant, Biocide, Gelling Agent, Crosslinker, Breaker, Scale & Corrosion Inhibitor, Clay & Iron Control, And Friction Reducer), by Fluid Type, & by Well Type - Global Forecasts to 2020", defines and segments the market with analysis and forecast of market size in terms of value and volume between 2015 and 2020.
Browse 90 tables and 65 figures spread through 160 Pages and in-depth TOC on "Fracking Fluid & Chemicals Market by Chemical Function (Acid, Surfactant, Biocide, Gelling Agent, Crosslinker, Breaker, Scale & Corrosion Inhibitor, Clay & Iron Control, And Friction Reducer), by Fluid Type, & by Well Type - Global Forecasts to 2020"
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The global fracking fluid market is projected to register a CAGR of 10.1% between 2015 and 2020, to reach USD 32.4 Billion 2020.
The rising demand for fuels and electricity is expected to drive the growth of the fracking fluids and chemicals market at a rapid rate during the forecast period. The demand for fuel from domestic and industrial front to cater to the increasing population across the globe will result in the growth of the market. The Asian unconventional gas development has increased resulting in the increase in fracking activities and the usage of fracking fluids and chemicals. A recent study has shown that China has significant shale gas reserves. In a bid to gain first mover advantage, the oil and gas companies in the U.S. are working to develop these shale reserves for oil and gas extraction through hydraulic fracturing.
North America accounted for the maximum market share of around 86% in the global fracking fluid market in 2014. The increase in the fracking activities for efficient extraction of oil & gas from abundant reserves present in North America is driving the frackingfluids and chemicals market. Also, new reserves are explored and much technological advancement is done by companies for increasing the production rate of the oil and gas wells.
The continuous efforts from all the nations for energy independence are expected to drive the fracking fluids and chemicals market. All countries are keen to establish their energy security. Many public and government bodies are calling for a wider-ranging shift to natural gas. For example, the shifting of fleet vehicles from imported fuels to domestic natural gas. Cheaper natural gas would also drive growth of domestic industries such as chemicals, pharmaceuticals, and fertilizers.
There has been lot of public concerns regarding usage of water in the limited supply regions and also the contamination and other environmental hazards due to fracking. The industries can address these concerns by using and capitalizing on foam-based fluids. This alternative utilizes less water than traditional fracturing and could help companies in addressing public concern over the environmental effects of fracturing
The report has covered the fracking fluid and chemicals market and forecasts till 2020 and has taken all the factors into consideration. The number of fracking jobs, oil rig count and production from each region has all been taken into consideration in the market analysis. The report depicts the present and future trends and has segmented the market on the basis of fluid type such as water-based fluids, foam-based fluids, gelled oil-based fluids. The chemical functions types covered in the report include acid, surfactant, biocide, gelling agent, cross linker, breaker, scale & corrosion inhibitor, clay & iron control, and friction reducer. The market sizes across various regions, namely, North America, Asia-Pacific, the Middle-East, Africa, Europe, and Latin America, along with their respective countries, such as the U.S., Canada, China, Australia, Argentina, and Brazil have been discussed in the report in detail.
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