Fracking Fluid Market by Application and Geography - Forecast and Analysis 2020-2024

The fracking fluid market size has the potential to grow by USD 14.72 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of over 8%.

This report provides a detailed analysis of the market by application (onshore and offshore), geography (Americas, APAC, and EMEA), and key vendors

Market Overview

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Market Competitive Analysis

The fracking fluid market is fragmented, and the degree of fragmentation will remain the same during the forecast period. The key players in the market are focusing on various growth strategies, including organizational restructuring, to expand their geographical reach and improve their market share. Solvay SA, Trican Well Service Ltd., and Weatherford International Plc. are some of the major market participants. Although the growing demand for oil and gas will offer immense growth opportunities, the environmental concerns associated with the hydraulic fracturing process will challenge the growth of the market participants. To make the most of the possibilities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this fracking fluid market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this fracking fluid market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading fracking fluid companies, including:

• Ashland Global Holdings, Inc.
• Baker Hughes Co.
• BJ Services LLC
• Chevron Phillips Chemical Co. LLC
• DuPont de Nemours Inc.
• Halliburton Co.
• Schlumberger Ltd.
• Solvay SA
• Trican Well Service Ltd.
• Weatherford International Plc.

Fracking Fluid Market: Segmentation by Region

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The Americas was the largest fracking fluid market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The abundant availability of unconventional oil and gas reserves has led to the development of shale oil and gas production. This will significantly influence the growth of fracking fluid market size in the region.

Almost 89% of the market’s growth will originate from the Americas during the forecast period. Canada and South America are the key markets for fracking fluids in the region. Market growth in this region will be slower than the growth of the market in APAC.

Fracking Fluid Market: Segmentation by Application

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This report provides an accurate prediction of the contribution of all the segments to the growth of the fracking fluid market size.

The increase in energy demand across the world and the recovery in crude oil prices are supporting unconventional E&P activities. Onshore E&P activities are carried out at a lower cost, which leads to their rising adoption. The extraction of shale oil and gas require the use of hydraulic fracturing technique, which, in turn, has increased the demand for fracking fluid. Hence, market growth in the onshore the segment will be faster than the growth of the market in the offshore segment.

Fracking Fluid Market: Key Drivers and Trends

There is a continuous increase in the demand for oil and gas because of the rising consumption of energy and rapid urbanization. To cater to the growing energy demand, major oil and gas companies have increased their E&P activities. With the increasing use of fuel in developing economies, such as India and China, the demand for natural gas has also increased. Furthermore, oil and gas E&P companies are growing their well drilling activities to explore untapped reservoirs, with the growing demand for energy. Additionally, the increasing demand for oil and gas will redirect companies towards the production from alternative oil and gas production techniques to conventional techniques. This will augment the adoption of unconventional E&P techniques, such as horizontal drilling and hydraulic fracking. As fracking fluid is required in many unconventional E&P activities, the increase in demand for oil and gas E&P activities will influence the growth of the global fracking fluid market during the forecast period.

• Oil and gas E&P activities generate large volumes of data during the well drilling process, and as a result, automation is applied to various parts of drilling process to improve the efficiency of the process.
• GPS, sensors, wireless communication, real-time data acquisition, and innovations in the equipment are being implemented in the oil and gas industry to reduce safety concerns and increase productivity.
• The integration of IoT into oil and gas operations for improved processing and automation provides an analytical and calculated approach to its production, thereby reducing potential risks, non-productive time, and uncertainty in the extraction process.
• The water quality and condition of the fracking equipment can be monitored with the help of sensors and software, which in turn, makes the integration of IoT applications, one of the critical fracking fluid market trends.
• During 2020-2024, the market will grow at a CAGR of over 8%.

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Fracking Fluid Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the fracking fluid market growth during the next five years
• Precise estimation of the global fracking fluid market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the fracking fluid industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of fracking fluid vendors 

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