The latest report by IMARC Group, titled “Fracking Chemicals and Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global fracking chemicals and fluids market size reached US$ 41.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028. Fracking, or hydraulic fracturing, is a method employed to extract natural gas and oil from underground rock formations. Chemicals and fluids are essential to the fracking process and serve several purposes. These substances are mixed with water and pumped into the wellbore at high pressure. Water is the primary component, comprising around 90-95% of the mixture, and serves as the base fluid to transport other materials and generate pressure within the well. Various chemicals are added to the fluid to optimize the process, including friction reducers, surfactants, and scale inhibitors, ensuring the efficiency of the operation. Additionally, biocides, corrosion inhibitors, gelling agents, and pH adjusters are introduced to prevent bacteria growth, protect equipment from corrosion, and ensure compatibility with the geological formation. For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/fracking-chemicals-fluids-market/requestsample Connectivity Enabling Technology Market Trends and Drivers: The fracking chemicals and fluids market is primarily driven by the increasing demand for energy. Fracking provides access to these previously untapped reserves, making it an essential component in meeting energy needs. In addition, fracking enhances energy independence for certain countries by reducing reliance on imported oil and gas, enhancing their energy security, and reducing their vulnerability to international supply disruptions, thus influencing market growth. Moreover, several technological advancements and the continuous development of fracking technologies represent another major growth-inducing factor. Along with this, significant improvements in the techniques deployed to extract oil and natural gas from shale formations have made fracking more efficient and cost-effective, thereby attracting increased investment in the industry, which is propelling market growth. Furthermore, governments are implementing regulations to ensure responsible fracking practices and provide a framework for safe and sustainable fracking operations, instilling confidence in investors and creating a positive market outlook. Report Segmentation: The report has segmented the market into the following categories: Breakup by Type:
- Water-Based
- Foam-Based
- Gelled Oil-Based
- Others
- Horizontal Wells
- Vertical Wells
- Gelling Agent
- Friction Reducer
- Surfactant
- Scale Inhibitor
- Clay Stabilizer
- Acid
- Cross-Linkers
- Breaker
- Ph Adjusting Agent
- Iron Control Agent
- Corrosion Inhibitor
- Biocide
- Others
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
- Akzo Nobel N.V.
- Albemarle Corporation
- Ashland Inc.
- Baker Hughes Incorporated
- BASF SE
- Calfrac Well Services Ltd.
- Chevron Phillips Chemical Company
- Clariant International Ltd.
- E.I. du Pont de Nemours and Company
- FTS International
- Halliburton Company
- Pioneer Engineering Services
- Schlumberger Ltd.
- The Dow Chemical Company
- Weatherford International