(PRWEB) August 13, 2014
According to the New report, "Fracking Chemicals Market by Fluid & Well Type, and Chemicals - Global Trends & Forecasts to 2018," defines and segments the fracking fluid and chemicals market with an analysis and forecast of the volumes and revenue. The fracking fluids market revenue will grow to $20.4 Billion by 2018, with a CAGR of 9.6% to 2018. The global fracking chemicals market was estimated to be 1,700 KT in 2012.
Browse 79 market data tables and 39 figures spread through 209 pages and in-depth TOC on “Fracking Chemicals and Fluid Market:"
The fracking (hydraulic fracturing) fluids and chemicals market is mainly driven by the increasing need to fracture the unconventional oil and gas reserves which can decrease the demand supply gap in the growing oil and gas demand to fuel the world. North America is by far the largest market for the fracking market mainly due to advanced technology available to drill and recover oil and gas from unconventional resources. The Rest Of the World is still in infancy stage, but shows a promising future especially in Asia Pacific.
Long-term growth drivers include the desire of world countries to become self-sufficient by utilizing their reserves to meet the demand. This would require increasing the recovery from the conventional or develop the unconventional oil and gas resources both of which will require fracking.
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Fracking is facing a lot of public opposition due to potential environmental hazards caused by fracturing. Water usage, water contamination, and seismic activity are the most important concerns related to fracking. R&D is extensively conducted in this market to develop new and improved fluids and chemicals which are eco-friendly, causing no harm to the environment.
The leading players in the market include Baker Hughes (U.S.), Chevron Phillips Chemical (U.S.), Halliburton (U.S.), Schlumberger (U.S.), FTS International (U.S.), BASF (Germany), Dow Chemical (U.S.), DuPont (U.S.), Clariant (Switzerland), Ashland (U.S.), Albemarle (U.S.), Akzo Nobel (The Netherlands), Solvay (Belgium) among several others.
The global fracking (hydraulic fracturing) fluids market is likely to witness a CAGR of 9.6% from 2013 to 2018. North America represents the largest market for fracking fluids and chemicals for this period, followed Asia-Pacific, Latin America, Europe, the Middle East and Africa. The fracking fluids and chemicals are expected to experience the highest growth in Asia-Pacific where the unconventional resources are being targeted for development. The countries in Asia-Pacific such as China and Australia, with high unconventional reserves are expected to move towards energy security and start the drilling and production of unconventional oil and gas and also increase the recovery from the existing oil and gas wells by fracking.
The fracking chemicals and fluids market includes a few dominant global players and several small regional players. Some of the key players include Baker Hughes (U.S.), Chevron Phillips Chemical (U.S.), Halliburton (U.S.), Linde (Germany), Schlumberger (U.S.), Weatherford (Switzerland), Calfrac Well Services (Canada), FTS International (U.S.), Trican Well Services (Canada), BASF (Germany), Dow Chemical (U.S.), DuPont (U.S.), Clariant (Switzerland), Ashland (U.S.), Albemarle (U.S.), Akzo Nobel (The Netherlands) and Solvay (Belgium)
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The report covers the fracking fluids 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 U.S., Canada, Australia, China, Argentina, Brazil, and others.
The fracking fluids market covers the major types of fluid base used such as Water-based, Gelled Oil-based, and Foam-based and also the type of wells such as horizontal and vertical. 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.
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