Fracking Chemicals and Fluid Market by Fluid & Well Type, and by Chemicals / Global Trends & Forecasts to 2018.
Fracking (hydraulic fracturing) is the propagation of fractures through layers of rock using pressurized fracturing fluid. This technique is primarily used in the extraction of resources from low permeability reservoirs such as shale gas, tight gas, CBM, and unconventional liquids, which are difficult to recover through regular drilling procedures.
The fracking fluid and fracking chemicals are very critical for a successful fracking job. The fracking fluids market is expected to increase by a CAGR of 9.6% over the next five years to reach $20 billion by 2018. The fracking chemicals consumption, that are added to the fluids, was estimated to be 1,700 KT in 2012.
The report covers the fracking fluid and chemicals market and its trends concerning six regions, namely, North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America; and the major countries in each region such as U.S., Canada, Australia, China, Argentina, Brazil, and others.
The fracking fluid type such as Water-based, Gelled Oil-based, Foam-based along with well type, vertical and horizontal well are covered. The fracking chemicals such as Acids, Biocide, Breaker, Clay Stabilizer, Corrosion Inhibitor, Cross-linker, Friction Reducer, Gelling Agent, Iron Control, pH Adjusting Agent, Scale Inhibitors, and Surfactant are included along with their estimated market revenue and consumption trends.
North America is the largest market for fracking fluid and fracking chemicals. Early development of technology to recover oil and gas from unconventional sources resulted into the concentration of fracking market in this region.
High demand for fuel and desire to become self sufficient is driving the fracking market in North America. Asia-Pacific has been identified as the growing market for fracking fluid and chemicals market to meet the increasing demand for oil and gas.
This increasing demand of oil and gas to fuel the economy is driving the need to recover higher amounts from conventional and also venture into unconventional oil and gas resources, by fracking.
In the fracking market, the industry comprises several global and regional players which are engaged in either fracking, or providing fluids and chemicals for fracking.
The major companies identified include Baker Hughes (U.S.), Halliburton (U.S.), Schlumberger (U.S.), Weatherford (Switzerland), BASF (Germany), Dow Chemical (U.S.), DuPont (U.S.), Clariant (Switzerland), Akzo Nobel (The Netherlands), Solvay (Belgium) and others.