Hydraulic fracturing is a process in which underground rock formations are fractured with the help of pressurized water, Proppants and chemical additives to release natural gas or petroleum for extraction. It has changed the overall global energy landscape and this process relies on fracking fluids. A mixture of chemicals and fluids is used to fracture the non-conventional and conventional formation of older gas and oil fields those having higher production rate. It can be processed in both horizontal and vertical wells, Liquid-based method at present dominates the market.
The market of fracking fluid and chemical is expected to rise to an estimated CAGR of 10.3% by 2021 from $XX billion to $XX billion in the period of 2015-2021.
There are many factors which act as drivers for the market such as continued use of hydraulic fracturing to get fuel from unconventional energy sources such as tight sand stone, coalbed methane etc. Other key drivers of the field include rising global natural gas prices, the need to fill the gap between supply and demand of oil and gas reserves. Continuous R&D is taking place in the field which is resulting in the development of better products such as development of eco friendly chemicals, waterless fracturing foam etc. Some of the restraints of the market which are hindering its growth are problems related to environmental safety, health hazards occurring due to it and technical complexities which are based on geological conditions.
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Fracking fluid chemicals can be segmented on the basis of fluid type, well type and function type. Based on geography crop protection chemicals are divided into four regions majorly North America, Europe, Asia-Pacific, Rest of the world, where the market is dominated by North America. Some of the major market players include Halliburton, Baker Hughes, Dupont, Dow chemical company, Pioneer natural resources.
Companies Profiled include
1. Dow chemical company
3. Baker Hughes
4. Halliburton Energy Services Inc.
5. Anadarko petroleum crop
6. EOG resources Inc.
7. FTS international
8. Weatherford international
9. Pioneer natural resources
10. Marathon Oil co.
11. Sandridge Energy
12. Baker hughes
13. EOG resources
14. Pioneer natural resources
15. Economy polymers and chemicals
16. FTS international
17. Chemplex L.C.
18. Halliburton Energy services
19. Nabors completion and production services
21. Nabors completion and production services
22. Champion technologies
23. C & J energy services
24. Reagent chemical and research
25. Universal well services
26. XTO Energy Inc.
27. Cabot oil & gas corp.
29. Encana Corp.
30. Chesapeake Energy. Corp
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This Occams Research Report covers
1. Historical data
2.Revenue forecasts, growth rates and CAGR up to 2021
5. Key geographic growth data
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