Fracking Fluids Market worth $20.4 Billion by 2018

Wednesday 5 February 2014, Amsterdam

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.

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 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.