DUBLIN, Oct. 12 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/r8fftl/fracking_fluid) has announced the addition of the "Fracking Fluid & Chemicals Market by Chemical Function (Acid, Surfactant, Biocide, Gelling Agent, Crosslinker, Breaker, Scale & Corrosion Inhibitor, Clay & Iron Control, And Friction Reducer), by Fluid Type, & by Well Type - Global Forecasts to 2020" report to their offering.
The fracking fluids market is estimated at USD 20.0 Billion in 2015 and is expected to reach USD 32.4 Billion by 2020, at a CAGR of 10.1% during the forecast period.
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. The oil and gas recovery from shale in many parts of world are projecd to result in the growth of fracking fluids and chemicals.
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.
China and Indonesia has significant shale gas reserves. However, the fracking activity in the region is currently low. The activities for development and extraction of oil and gas from Asian unconventional shale reserves are projected to increase during the forecast period resulting in the growth of fracking fluids and chemical market.
The decision regarding the type of fracking fluids to be used may also depend on cost, technical complexity based on the geological condition, and effect on the environment. The water-based fluid is the most common type of fracking fluids used due to its various applications and cost effectiveness. However, with increasing environmental concerns and damages to the ecosystem, gelled oil-based fluids are expected to witness an upward trend.
The fracking fluid and chemicals market is projected to be driven due to higher production rate, as fracturing can be used to recover oil and gas from older wells. The water contamination and other geological concerns need to be addressed so that the market can flourish globally.
There are many companies which are active in the fracking fluids and chemicals market and are continuously striving for technological edge and entering the emerging markets with various strategic agreements.
The players involved in this market are specialty chemical companies, drilling, and extraction service providers namely, Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), DuPont (U.S.), AkzoNobel (Netherlands), BASF (Germany), and Ashland (U.S).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fracking Fluids Market, By Fluid Type
8 Fracking Fluids Market, By Well Type
9 Fracking Chemicals Market, By Function Type
10 Fracking Fluids & Chemicals Market, By Region
11 Competitive Landscape
12 Company Profiles
- Akzonobel N.V.
- Albemarle Corporation
- Ashland Inc.
- Baker Hughes
- Basf SE
- Calfrac Well Services Ltd.
- Chevron Phillips Chemical Company
- Clariant International Ltd.
- E. I. Dupont De Nemours & Co.
- FTS International
- Halliburton Co.
- Schlumberger Limited
For more information visit http://www.researchandmarkets.com/research/r8fftl/fracking_fluid
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets