Product Code: 14434
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 the 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 the 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 techniques like Hydraulic Fracturing. This, consequently, requires a 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 for 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 the usual trivial methods via which tight formations can be easily exploited. This is where the 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. An increase in Hydraulic fracturing activities has led to a 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 is 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 the 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 a 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 the BP Statistical Review of World Energy, the primary energy demand across the globe has increased by 5.8%, in 2021, while consumption of fossil fuels remained at the same levels as compared to the historic years which 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 as 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 a major decline in consumer demand and other supply constraints. The oil and Gas Industry is no exception to have faced this dark scenario brought about by the global pandemic. Despite various companies facing significant disruptions, the pandemic hiatus could not stop the innovation going on in the oil and gas industry to optimize 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 the 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.
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 agents, Crosslinkers, Surfactants, and Others. The market analysis also studies the regional segmentation divided among the 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.
Report Scope
In this report, Global Fracking Chemicals Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Fracking Chemicals Market, By Well Type:
- Vertical
- 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:
- North America
- United States
- Mexico
- Canada
- 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).
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Table of Contents
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
- 5.2. 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
- 6.2. 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
- 7.2. 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
- 8.2. 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
- 9.2. 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