Fracking Chemicals And Fluids Market To Reach $56.31 Billion By 2030

Fracking Chemicals And Fluids Market Growth & Trends

The global fracking chemicals and fluids market size is expected to reach USD 56.31 billion by 2030, registering a CAGR of 6.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Globally increasing demand of fuel and electricity has been a major factor driving the market growth. The utilization of fracking chemicals in drilling operations has increased owing to the growing demand of horizontal drilling methods.

Fracking chemicals have various uses in drilling operations including, prevention of scales in pipe, reduction of friction over base pipe, thickening of water in order to suspend proppants, retention of viscosity of fluid at high temperatures, elimination of bacteria in water, protection of casing from corrosion, and clay stabilization to lock down clays in shale structure.

Fracking chemicals are used in vertical and horizontal drilling operations. The recent shift towards horizontal drilling methods have led to the exponential growth of horizontal wells category in well-type segment. Owing to this scenario, horizontal well was the largest well-type category in 2016 and is expected to maintain its dominance over the next eight years. The horizontal well segment had a market share of 75.6% in 2016.

Water based fluids is expected to be the fastest growing segment in the product category over the forecast period with an estimated CAGR of 10.9% from 2017 to 2025. Water based fluids are utilized to drill approximately 80% of the wells. Growing concern towards toxicity and biodegradation of fracking fluids is expected to drive water based fluids product demand over the forecast period. Owing to its ability to minimize erosion of weak rock formations and circulation loss, water based fracking fluid is expected to gain significance over the forecast period.

 Request a free sample copy or view report summary: Fracking Chemicals And Fluids Market Report

Fracking Chemicals And Fluids Market Report Highlights

• Water based fluids dominated the market with 68.2% of revenue share in 2023 due to their cost-effectiveness, environmental compatibility, and ease of handling.

• Horizontal well type dominated the market with 83.0% of revenue share in 2023. This is due to their significantly higher production rates compared to vertical wells. This well type allows for greater exposure of the reservoir to fracturing fluids, leading to increased hydrocarbon recovery.

• Vertical well type is anticipated to witness the significant CAGR of 7.7% over the forecast period due to its established technology and lower initial investment costs compared to horizontal drilling.

• Gelling agent accounted for the largest market revenue share of 24.2% in 2023. Gelling agents are crucial for creating viscous fracturing fluids that effectively carry proppants into the rock formation, thereby enhancing oil and gas recovery.

• The North America fracking chemicals and fluids market dominated the market with 58.3% of revenue share in 2023. It is attributable to abundance of shale formations, advanced drilling technologies, and robust infrastructure in the region.

Fracking Chemicals And Fluids Market Segmentation

Grand View Research has segmented the global fracking chemicals and fluids market on the basis of on product, well type, application, and region:

Fracking Chemicals And Fluids Product Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• Water Based Fluids

• Oil Based Fluids

• Synthetic Based Fluids

• Foam Based Fluids

Fracking Chemicals And Fluids Well Type Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• Horizontal well

• Vertical well

Fracking Chemicals And Fluids Application Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• Friction Reducer

• Clay Control Agent

• Gelling Agent

• Cross-linkers

• Breakers

• Others

Fracking Chemicals And Fluids Regional Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Fracking Chemicals And Fluids Market

• Akzo Nobel N.V.

• Pioneer Engineering Services

• Halliburton Company

• Dow

• SLB

• Baker Hughes Company

• BASF

• DuPont