Fracking Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Well Type (Vertical, Horizontal/Directional), By Fluid Type (Water-based, Foam-based, Cryogenic (Liquid CO2)), By Application (Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, Others), By Region, and Competition

  • Industry : Chemicals
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Summary

Report Description

Global Fracking Chemicals Market is anticipated to relish a staggering growth in the forecast period due to increasing shale exploration and exploitation activities by oil and gas producing majors. The market is growing by leaps and bounds due to emerging demand for shale gas from developing countries. In recent years, there has been a surge in drilling activities of Wild Cat exploratory wells at oil and gas prospective regions. Fracking fluids are a necessity to extract hydrocarbons from tight reservoir fields.

Fracking chemicals are well known for tapping hydrocarbon potential from tight oil-bearing formations beneath the underground. Due to vast amount of hydrocarbon present in the tight conventional oil and gas reservoirs, it becomes important to harness the energy of this huge volume of hydrocarbon accumulated using Unconventional Hydrocarbon extraction technique like Hydraulic Fracturing. This, consequently, requires huge amount of fracking fluids and other chemical additives to aid in the fluidity of petroleum deposits from underground to the surface driving the demand of fracking chemicals.

Rising Fracking Activities and Technological Advancements

Unconventional wells encounter a major challenge like fluid transmissibility with ease when drilled using water-based and oil-based mud. So, they need techniques other than usual trivial methods via which tight formations can be easily exploited. This is where Fracking process comes into the picture. Hydraulic Fracturing or Fracking is an emerging technique where oil is taken out from tight and fine-grained source rocks. Increase in Hydraulic fracturing activities has led to surge in the demand for Fracking chemicals over the forecast period. The frequency of horizontal fracking activity has substantially increased recently. A considerably greater quantity of fracking fluids and chemicals are required for this activity. As a result, there has been a steady rise in the need for fracking chemicals and fluids. Technological advancements in drilling activities (like preparation of hydraulic mud) have also skyrocketed the capacity utilization of fracking chemicals.

Growing Energy Demand from Developing Economies

As new industries are being established in emerging economies, there is huge surge of energy required for operating those industries. Its source of energy is primarily derived from hydrocarbon deposits which are increasingly extracted using fracking techniques. According to BP Statistical Review of World Energy, the primary energy demand across the globe has increased by 5.8%, in 2021, while consumption of fossil fuel remained at same levels as compared to the historic years which is accounted for the growth of commodity trade market over the forecast period. Henceforth, demand for fracking chemicals is escalating in different regions seeking industrial growth over the forecast period which in result is driving the market growth.

Lower Energy Costs and Greater Hydrocarbon Output

Shale gas exploration is required to meet the rising energy demand, which raises the requirement for chemicals and fracking fluids. Compared to vertical drilling, horizontal drilling has a smaller adverse environmental impact. Oil and gas companies can extract the same amounts of oil and gas using a horizontal well as opposed to drilling a dozen or more vertical wells. Switching from vertical drilling to horizontal drilling raises the net income of oil operators due to enhanced hydrocarbon recovery, resulting in lower cost transfer to energy consumers.

Recent Developments

Industries had to go through difficult times during the consecutive waves of unprecedented COVID 19. Most of them have faced major setbacks in terms of overall revenue, due to major decline in consumer demand and other supply constraints. Oil and Gas Industry is no exception to have faced this dark scenario brought by the global pandemic. Despite various companies facing significant disruptions, pandemic hiatus could not stop the innovation going on in the oil and gas industry to optimise the crude oil production from tight oil fields. Modifications in the drilling techniques have been implemented after a long pragmatic discussion on the implementation of newer preparing hydraulic mud methods used in Hydraulic Fracturing Technology Conference (HFTC), held in Feb 2021 in Texas. The conference discussed the major changes in the development and completion of fracking wells. According to HFTC, Permian Basin with less than 300 rigs drilled in 2021, could produce more oil than compared to the state of Permian basin with more than 300 rigs drilled.


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Market Segmentation

The Global Fracking Chemicals Market is segmented based on Well type, Fluid Type, Application, By Company, and Regional Distribution. Based on Well type, the market is further segmented into Vertical and Horizontal/Directional. Based on Fluid Type, the market can be divided into Water-based, Foam-based, and Cryogenic (Liquid CO2). Based on the Application, the market is divided into Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, and Others. The market analysis also studies the regional segmentation divided among North American region, European region, Asia-Pacific region, South American region, and Middle East & African region.

Company Profiles

BASF SE, Dow Chemicals Company, Chevron Philips Chemical Corporation, Solvay S.A., Albemarle Corporation, Croda International Plc, Clariant AG, Saudi Basic Industries Corporation, Akzo Nobel N.V. and Innospec Inc. are among the major market players in the Global Fracking Chemicals market.


Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in Kilotons, and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

·         Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Well Type

·         Fluid Type

·         Application

Regional Scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country Scope

United States, Mexico, Canada, Russia, Norway, United Kingdom, Netherlands, China, Indonesia, India, Malaysia, Australia, Brazil, Colombia, Venezuela, Argentina, South Africa, Saudi Arabia, UAE and Kuwait.

Key Companies Profiled

BASF SE, Dow Chemicals Company, Chevron Philips Chemical Corporation, Solvay S.A., Albemarle Corporation, Croda International Plc, CLARIANT, Saudi Basic Industries Corporation, Akzo Nobel N.V., Innospec Inc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global Fracking Chemicals Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Fracking Chemicals Market, By Well Type:

o   Vertical

o   Horizontal/Directional

·         Fracking Chemicals Market, By Fluid Type:

    • Water-based
    • Foam-based
    • Cryogenic (Liquid CO2)

·         Fracking Chemicals Market, By Application:  

    • Friction Reducer
    • Biocides
    • Clay Control Agent
    • Crosslinkers
    • Surfactants
    • Others

·         Fracking Chemicals Market, By Region:

o   North America

      • United States
      • Canada
      • Mexico
    • Europe
      • Russia
      • Norway
      • United Kingdom
      • Netherlands
    • Asia-Pacific
      • China
      • Indonesia
      • India
      • Malaysia
      • Australia
    • South America
      • Brazil
      • Colombia
      • Venezuela
      • Argentina

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Fracking Chemicals Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Fracking Chemicals Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume

5.2.  Market Share & Forecast

5.2.1.    By Well Type (Vertical, Horizontal/Directional)

5.2.2.    By Fluid Type (Water-based, Foam-based, Cryogenic (Liquid CO2))

5.2.3.    By Application (Friction Reducer, Biocides, Clay Control Agent, Crosslinkers, Surfactants, Others)

5.2.4.    By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.5.    By Company (2022)

5.3.  Market Map

5.3.1.    By Well Type

5.3.2.    By Fluid Type

5.3.3.    By Application

5.3.4.    By Region

6.    North America Fracking Chemicals Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Well Type

6.2.2.    By Fluid Type

6.2.3.    By Application

6.2.4.    By Country

6.3.  Pricing Analysis

6.4.  North America: Country Analysis

6.4.1.    United States Fracking Chemicals Market Outlook

6.4.1.1.        Market Size & Forecast

6.4.1.1.1.           By Value & Volume

6.4.1.2.        Market Share & Forecast

6.4.1.2.1.           By Well Type

6.4.1.2.2.           By Fluid Type

6.4.1.2.3.           By Application

6.4.2.    Mexico Fracking Chemicals Market Outlook

6.4.2.1.        Market Size & Forecast

6.4.2.1.1.           By Value & Volume

6.4.2.2.        Market Share & Forecast

6.4.2.2.1.           By Well Type

6.4.2.2.2.           By Fluid Type

6.4.2.2.3.           By Application

6.4.3.    Canada Fracking Chemicals Market Outlook

6.4.3.1.        Market Size & Forecast

6.4.3.1.1.           By Value & Volume

6.4.3.2.        Market Share & Forecast

6.4.3.2.1.           By Well Type

6.4.3.2.2.           By Fluid Type

6.4.3.2.3.           By Application

7.    Europe Fracking Chemicals Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Well Type

7.2.2.    By Fluid Type

7.2.3.    By Application

7.2.4.    By Country

7.3.  Pricing Analysis

7.4.  Europe: Country Analysis

7.4.1.    Russia Fracking Chemicals Market Outlook

7.4.1.1.        Market Size & Forecast

7.4.1.1.1.           By Value & Volume

7.4.1.2.        Market Share & Forecast

7.4.1.2.1.           By Well Type

7.4.1.2.2.           By Fluid Type

7.4.1.2.3.           By Application

7.4.2.    Norway Fracking Chemicals Market Outlook

7.4.2.1.        Market Size & Forecast

7.4.2.1.1.           By Value & Volume

7.4.2.2.        Market Share & Forecast

7.4.2.2.1.           By Well Type

7.4.2.2.2.           By Fluid Type

7.4.2.2.3.           By Application

7.4.3.    United Kingdom Fracking Chemicals Market Outlook

7.4.3.1.        Market Size & Forecast

7.4.3.1.1.           By Value & Volume

7.4.3.2.        Market Share & Forecast

7.4.3.2.1.           By Well Type

7.4.3.2.2.           By Fluid Type

7.4.3.2.3.           By Application

7.4.4.    Netherlands Fracking Chemicals Market Outlook

7.4.4.1.        Market Size & Forecast

7.4.4.1.1.           By Value & Volume

7.4.4.2.        Market Share & Forecast

7.4.4.2.1.           By Well Type

7.4.4.2.2.           By Fluid Type

7.4.4.2.3.           By Application

8.    Asia-Pacific Fracking Chemicals Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Well Type

8.2.2.    By Fluid Type

8.2.3.    By Application

8.2.4.    By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.    China Fracking Chemicals Market Outlook

8.4.1.1.        Market Size & Forecast

8.4.1.1.1.           By Value & Volume

8.4.1.2.        Market Share & Forecast

8.4.1.2.1.           By Well Type

8.4.1.2.2.           By Fluid Type

8.4.1.2.3.           By Application

8.4.2.    Indonesia Fracking Chemicals Market Outlook

8.4.2.1.        Market Size & Forecast

8.4.2.1.1.           By Value & Volume

8.4.2.2.        Market Share & Forecast

8.4.2.2.1.           By Well Type

8.4.2.2.2.           By Fluid Type

8.4.2.2.3.           By Application

8.4.3.    India Fracking Chemicals Market Outlook

8.4.3.1.        Market Size & Forecast

8.4.3.1.1.           By Value & Volume

8.4.3.2.        Market Share & Forecast

8.4.3.2.1.           By Well Type

8.4.3.2.2.           By Fluid Type

8.4.3.2.3.           By Application

8.4.4.    Malaysia Fracking Chemicals Market Outlook

8.4.4.1.        Market Size & Forecast

8.4.4.1.1.           By Value & Volume

8.4.4.2.        Market Share & Forecast

8.4.4.2.1.           By Well Type

8.4.4.2.2.           By Fluid Type

8.4.4.2.3.           By Application

8.4.5.    Australia Fracking Chemicals Market Outlook

8.4.5.1.        Market Size & Forecast

8.4.5.1.1.           By Value & Volume

8.4.5.2.        Market Share & Forecast

8.4.5.2.1.           By Well Type

8.4.5.2.2.           By Fluid Type

8.4.5.2.3.           By Application

9.    South America Fracking Chemicals Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Well Type

9.2.2.    By Fluid Type

9.2.3.    By Application

9.2.4.    By Country

9.3.  Pricing Analysis

9.4.  South America: Country Analysis

9.4.1.    Brazil Fracking Chemicals Market Outlook

9.4.1.1.        Market Size & Forecast

9.4.1.1.1.           By Value & Volume

9.4.1.2.        Market Share & Forecast

9.4.1.2.1.           By Well Type

9.4.1.2.2.           By Fluid Type

9.4.1.2.3.           By Application

9.4.2.    Colombia Fracking Chemicals Market Outlook

9.4.2.1.        Market Size & Forecast

9.4.2.1.1.           By Value & Volume

9.4.2.2.        Market Share & Forecast

9.4.2.2.1.           By Well Type

9.4.2.2.2.           By Fluid Type

9.4.2.2.3.           By Application

9.4.3.    Venezuela Fracking Chemicals Market Outlook

9.4.3.1.        Market Size & Forecast

9.4.3.1.1.           By Value & Volume

9.4.3.2.        Market Share & Forecast

9.4.3.2.1.           By Well Type

9.4.3.2.2.           By Fluid Type

9.4.3.2.3.           By Application

9.4.4.    Argentina Fracking Chemicals Market Outlook

9.4.4.1.        Market Size & Forecast

9.4.4.1.1.           By Value & Volume

9.4.4.2.        Market Share & Forecast

9.4.4.2.1.           By Well Type

9.4.4.2.2.           By Fluid Type

9.4.4.2.3.           By Application

10. Middle East and Africa Fracking Chemicals Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Well Type

10.2.2. By Fluid Type

10.2.3. By Application

10.2.4. By Country

10.3.             Pricing Analysis

10.4.             MEA: Country Analysis

10.4.1. South Africa Fracking Chemicals Market Outlook

10.4.1.1.     Market Size & Forecast

10.4.1.1.1.         By Value & Volume

10.4.1.2.     Market Share & Forecast

10.4.1.2.1.         By Well Type

10.4.1.2.2.         By Fluid Type

10.4.1.2.3.         By Application

10.4.2. Saudi Arabia Fracking Chemicals Market Outlook

10.4.2.1.     Market Size & Forecast

10.4.2.1.1.         By Value & Volume

10.4.2.2.     Market Share & Forecast

10.4.2.2.1.         By Well Type

10.4.2.2.2.         By Fluid Type

10.4.2.2.3.         By Application

10.4.3. UAE Fracking Chemicals Market Outlook

10.4.3.1.     Market Size & Forecast

10.4.3.1.1.         By Value & Volume

10.4.3.2.     Market Share & Forecast

10.4.3.2.1.         By Well Type

10.4.3.2.2.         By Fluid Type

10.4.3.2.3.         By Application

10.4.4. Kuwait Fracking Chemicals Market Outlook

10.4.4.1.     Market Size & Forecast

10.4.4.1.1.         By Value & Volume

10.4.4.2.     Market Share & Forecast

10.4.4.2.1.         By Well Type

10.4.4.2.2.         By Fluid Type

10.4.4.2.3.         By Application

11. Market Dynamics

11.1.             Drivers

11.1.1. Rising Fracking Activities and Technological Advancements

11.1.2. Growing Energy Demand from Developing Economies

11.1.3. Lower Energy Costs and Greater Hydrocarbon Output

11.2.             Challenges

11.2.1. Curb by European countries due to contentious environmental and health issues

11.2.2. Overconsumption of water to prepare chemical mixtures

12. Market Trends & Developments

12.1.             Recent Developments

12.2.             Product Launches

12.3.             Mergers & Acquisitions

13. Global Fracking Chemical Market: SWOT Analysis

14. Porter’s Five Forces Analysis

14.1.             Competition in the Industry

14.2.             Potential of New Entrants

14.3.             Power of Suppliers

14.4.             Power of Customers

14.5.             Threat of Substitute Products

15. Competitive Landscape

15.1.             Business Overview

15.2.             Product Offerings

15.3.             Recent Developments

15.4.             Financials (As Reported)

15.5.             Key Personnel

15.6.             SWOT Analysis

15.6.1. BASF SE

15.6.2. Dow Chemicals Company

15.6.3. Chevron Philips Chemical Corporation

15.6.4. Solvay S.A.

15.6.5. Albemarle Corporation

15.6.6. Croda International Plc

15.6.7. CLARIANT

15.6.8. Saudi Basic Industries Corporation

15.6.9. Akzo Nobel N.V.

15.6.10.              Innospec Inc.

16. Strategic Recommendations

Figures and Tables

Frequently asked questions

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Rising Fracking Activities, Technological Advancements in Drilling, Lower Energy Costs and Increasing Oil and Gas Production are the major factors driving the growth of Global Fracking Chemicals Market.

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Overconsumption of ground water while making fracking fluids’ chemical mixture, combined with the strict ban imposed on Hydraulic Fracturing Drilling practices by few European countries, are inhibiting the growth of the market.

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United States and other countries of North America are increasingly investing in Shale Hydrocarbon Extraction Techniques and is the fastest growing region driving the market growth.

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Chemical Manufacturing players like BASF SE, Dow Chemicals Company, Chevron Philips Chemical Corporation, Albemarle Corporation and Akzo Nobel N.V.

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Sakshi Bajaal

Business Consultant
Press Release

Fracking Chemicals Market to be Dominated by North America Region in the Forecast Period

Dec, 2022

Rising fracking activities and low-cost energy delivery are prime factors driving the growth of Global Fracking Chemicals market in the forecast period, 2024-2028.

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