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Technavio’s market research report predicts that the global fracking fluid and chemicals market will grow at a CAGR of almost 10% during the forecast period. One of the primary drivers for the market’s growth is the shift towards horizontal drilling. Horizontal drilling offers a mechanism to retrieve the unconventional shale reserves with hydraulic fracturing technique. Moreover, the horizontal drilling technique utilizes a lot of fracking chemicals and fluids than vertical drilling as it reaches more area. Regions like Germany, France, and Denmark have notable potential for the hydraulic fracturing technique consequently increasing the demand for fracking fluids and chemicals. Therefore, the increased acceptance of the advanced drilling technologies like horizontal drilling for recovering oil and gas is expected to drive the market for the global fracking fluid and chemicals market.
One of the latest trends that will gain traction in the market is the development of new fracking chemicals. R&D activities to manufacture eco-friendly chemicals and fluids is anticipated to drive the market’s growth. Companies are already on the look out to develop economic and environmental friendly fracking chemicals and fluids which will again boost the market’s growth prospects.
The market consists of large and small vendors and since all players compete to improve their revenue shares, the market is highly competitive. The competition in the market will further intensify due to the rise in horizontal drilling and hydraulic fracturing techniques where the demand for fracking chemicals and fluids is high. This will pressurize vendors to reduce the product prices, which will negatively affect their profit margins. The key players in the hydraulic fracturing market who have a large geographical presence with huge production facilities and a few regional players account for substantial market shares. With the advancement in technology and innovations the market is anticipated to witness intense competition in the coming years.
Other prominent players include AkzoNobel, Albemarle, BASF SE, Calfrac Well Services, Chevron Phillips Chemical, Clariant, FTS International, and The Dow Chemical Company.
During 2016, the water-based fluid segment accounted for the major market share in the global fracking fluid and chemicals market and is expected to lead the hydraulic fracturing market during the next four years. Water-based fluids are widely used for fracturing treatment and to recover shale gas and oil. Deep reservoirs require high-density fluids for the efficient fracking process thus increasing the demand for water-based fluids.
In term of the geographical regions, the Americas held the highest share and is expected to lead the market in the next four years. The major driving factor is the hydraulic fracturing technique and horizontal drilling in the region allowing the US to produce more oil and gas from unconventional reserves which will further drive the growth of the hydraulic fracturing market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by fluid type
PART 07: Market segmentation by functions
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
Tags: hydraulic fracking, fracking process, safety products, lubricant, chemicals and materials market research, specialty chemicals industry reports,
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