The global& fluids marketng demand of horizontal drilling methods.
Fracking chemicals have various uses in drilling operations including, prevention of scales in pipe, reduction of friction over base pipe, thickening of water in order to suspend proppants, retention of viscosity of fluid at high temperatures, elimination of bacteria in water, protection of casing from corrosion, and clay stabilization to lock down clays in shale structure.
Fracking chemicals are used in vertical and horizontal drilling operations. The recent shift towards horizontal drilling methods have led to the exponential growth of horizontal wells category in well-type segment. Owing to this scenario, horizontal well was the largest well-type category in 2016 and is expected to maintain its dominance over the next eight years. The horizontal well segment had a market share of 75.6% in 2016.
Water based fluids is expected to be the fastest growing segment in the product category over the forecast period with an estimated CAGR of 10.9% from 2017 to 2025. Water based fluids are utilized to drill approximately 80% of the wells. Growing concern towards toxicity and biodegradation of fracking fluids is expected to drive water based fluids product demand over the forecast period. Owing to its ability to minimize erosion of weak rock formations and circulation loss, water based fracking fluid is expected to gain significance over the forecast period.
To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/fracking-chemicals-fluid-market
Further key findings from the report suggest:
The global fracking chemicals demand was 2,222.0 kilotons in 2016 and is expected to grow at a CAGR of 9.1% from 2017 to 2025
Water based fluids emerged as the largest product segment in 2016 and is estimated to generate revenue of USD 32.08 billion by 2025
Global fracking chemicals demand in vertical well was USD 520.5 million in 2016 and is anticipated to witness steady growth over the next eight years
The U.S. horizontal well fracking chemicals market in well type category was 1,122.1 kilotons in 2016 and is estimated to reach a total volume of 2,360.3 kilotons by 2025
The industry in Asia Pacific is projected to witness substantial growth over the forecast period owing to various infrastructural and technological developments across major economies. In terms of revenue, the regional market is expected to grow at a CAGR of 13.8% from 2017 to 2025
Key players of the industry include, Baker Hughes Incorporated, Halliburton Company, Schlumberger Ltd., and E.I. du Pont de Nemours and Company. These major players are often indulged in joint ventures, mergers & acquisitions, in order to gain market share and expand their product portfolio.
Grand View Research has segmented the global fracking chemicals & fluids market on the basis of product, well type, application, function and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Water based fluids
Oil based fluids
Synthetic based fluids
Foam based fluids
Well type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Horizontal well
Vertical well
Function Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Friction reducer
Clay control agent
Gelling agent
Cross-linkers
Breakers
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America
US.
Canada
Mexico
Europe
UK
Russia
Asia Pacific
China
Australia
Central & South America
Brazil
Argentina
Middle East & Africa
Algeria
South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The and healthcare.
For More Information: