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Top oil & gas companies into manufacturing of fracking fluids and chemicals
The global fracking (hydraulic fracturing) fluids market is likely to witness a CAGR of 9.6% from 2013 to 2018. North America represents the largest market for fracking fluids and chemicals for this period, followed Asia-Pacific, Latin America, Europe, the Middle East and Africa. The fracking fluids and chemicals are expected to experience the highest growth in Asia-Pacific where the unconventional resources are being targeted for development. The countries in Asia-Pacific such as China and Australia, with high unconventional reserves are expected to move towards energy security and start the drilling and production of unconventional oil and gas and also increase the recovery from the existing oil and gas wells by fracking.
The fracking chemicals and fluids market includes a few dominant global players and several small regional players. Some of the key players include Baker Hughes (U.S.), Chevron Phillips Chemical (U.S.), Halliburton (U.S.), Linde (Germany), Schlumberger (U.S.), Weatherford (Switzerland), Calfrac Well Services (Canada), FTS International (U.S.), Trican Well Services (Canada), BASF (Germany), Dow Chemical (U.S.), DuPont (U.S.), Clariant (Switzerland), Ashland (U.S.), Albemarle (U.S.), Akzo Nobel (The Netherlands) and Solvay (Belgium)
The major players in fracking such as Baker Hughes, Halliburton and Schlumberger have integrated backward into manufacturing of fluids and chemicals that are required for fracking. Their hands-on experience in hydraulic fracturing gives them an edge to manufacture the appropriate fluids and chemicals which have the required properties for fracking.
Apart from the hydraulic fracturing companies, the chemicals companies have set up separate departments for the development of oilfield chemicals that work to manufacture the fluids and chemicals with the desired properties.
Fracking Chemicals and Fluid Market by Fluid & Well Type, and Chemicals (Acid, Surfactant, Biocide, Gelling Agent, Cross Linker, Breaker, Scale & Corrosion Inhibitor, Clay & Iron Control, Friction Reducer) — Global Trends & Forecasts to 2018
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