The Global fracking fluid and chemicals market is anticipated to grow at a CAGR of 11.72% over the forecast period of 2018-2026. The key factors assumed to be responsible for this growth include the inclination to lessen the dependence on foreign oil, growing use of natural gas as a transportation fuel and the revival of unconventional resources.
The global fracking fluid and chemicals market is primarily segmented according to three types, namely the fluid type, function type and well type. The fluid type segment is further divided into gel based, foam based, and water based. The function type is sub-divided into friction reducer, gelling agent, surfactant, pH adjusting agent, biocide etc.; and the well type is segmented into horizontal and vertical wells.
The global fracking fluid and chemicals market has been geographically segmented into North America, Asia Pacific, Europe and rest of the world. Of them, the North American region has emerged as a leader in the global market scenario. The main reason for the development of the region can be attributed to the growing fracking actions for shale oil & natural gas reserves in North America. The Asia-Pacific region is not far behind and is expected to show the fastest growth over the forecast period owing to an increasing demand for clean energy from the region.
The Dow Chemical Company, Schlumberger Limited, Baker Hughes Incorporated, Halliburton Energy Services, Inc, Anadarko Petroleum Corporation, Eog Resources Inc, FTS International, Inc., Weatherford International Ltd, Pioneer Natural Resources, Global Am-Tx, Inc, Basf Se, Marathon Oil Corporation, Economy Polymers & Chemicals, Nabors Industries, Inc, Trican Well Service Ltd, Reagent Chemical And Research, Inc, Patterson-Uti Energy, Inc, Exxon Mobil Corporation, Cabot Oil & Gas Corp, Dominion Energy Inc are some of the major players in the global fracking fluid and chemical markets.