According to the latest report by IMARC Group, titled “Fracking Chemicals and Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global fracking chemicals and fluids market size experienced healthy growth during 2014-2019. Fracking refers to the process of drilling into the earth to create fissures and extract gas and crude oil. It includes injecting a solution, which is made using water, sand and various chemicals, in drilling wells at high pressure. This assists in increasing the number of hydrocarbons, preventing corrosion of the wells, clogs and bacterial growth, and lubricating the extraction process. Different chemicals are generally used in fracking to perform functions that vary depending on the required characteristics.
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The rising consumption of energy, along with advancements in offshore activities, represents one of the key factors bolstering the global fracking chemicals and fluids market growth. Apart from this, the leading manufacturers operating in the industry are investing significantly in the research and development (R&D) activities to develop environment-friendly fracking chemicals and non-toxic drilling fluids. This is expected to create a positive influence on the market growth in the coming years.
Breakup by Type:
- Gelled Oil-Based
Breakup by Well Type:
- Horizontal Wells
- Vertical Wells
Breakup by Function Type:
- Gelling Agent
- Friction Reducer
- Scale Inhibitor
- Clay Stabilizer
- Ph Adjusting Agent
- Iron Control Agent
- Corrosion Inhibitor
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Akzo Nobel N.V.
- Albermarle Corporation
- Ashland Inc.
- Baker Hughes Incorporated
- BASF SE
- Calfrac Well Services Ltd.
- Chevron Phillips Chemical Company
- Clariant International Ltd.
- E.I. du Pont de Nemours and Company
- FTS International, Halliburton Company
- Pioneer Engineering Services
- Schlumberger Ltd.
- The Dow Chemical Company
- Weatherford International
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