Fracking Fluids And Chemicals Market: Oil and Gas Recovery from Shale in Many Parts of World Are Driving the Growth

The fracking fluid and chemicals are used for hydraulic fracturing after the completion of drilling of oil and gas reserves. The blend of fluids and chemicals is used to fracture the conventional or non-conventional formation of oil and gas reserve to stimulate the production of oil and gas well.  The hydraulic fracturing has made it possible to efficiently extract oil and gas from the older oil and gas field with high production rate. Also, hydraulic fracturing can be used to extract oil and gas from the extreme geological formations which were not previously possible.


Fracking Fluid & Chemicals Market is expected to reach USD 32.4 Billion by 2020, at a CAGR of 10.1%. The oil and gas recovery from shale in many parts of world are projecd to result in the growth of fracking fluids and chemicals.


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North America is the global leader of the fracking fluids and chemical market and the trend is expected till 2020. The North American fracking fluids market is driven by the growth in fracking activities for oil & gas reserves. The U.S. is the dominant country with respect to country-wise split of the fracking fluids market in North America. This region gets a boost due to rise in the hydraulic fracturing of the shale oil & gas reserves. These activities consume huge quantities of fracking fluids due to which this market continues to grow.



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.


 

Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), DuPont (U.S.), AkzoNobel (Netherlands), BASF (Germany), and Ashland (U.S) are some of the leading players operating in Fracking Fluid & Chemicals Market.

 

Market Drivers:

  • Increases Production Rates
  • Energy Shift Toward Gas, A Transitional Fuel
  • Energy Security Offered By Domestic Supply of Natural Gas

Market Opportunities

  • Waterless Fracturing-Foams


 

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