Fracking fluid, also known as frac liquid, is a mixture of chemical utilized in activities related to drilling to expand the number of hydrocarbons that can be extricated. The fracking fluid helps to protect corrosion of the well during oil operations. In addition, it lubricates the extraction procedure and prevents bacterial growth. The recovery of the oil & gas segment after the economic downturn is attributable to geopolitical pressure. The segment grew from $0 for each barrel in 2016 to $70 in 2018, which, in turn, is anticipated to boost the growth of the global fracking fluid market.
Furthermore, rise in oil investigation activities along with decline in drilling costs significantly augment the demand for fracking fluids. For example, as indicated by the International Energy Agency (IEA), a notable rise in drilling activities has been witnessed in the U.S. in 2018. Thus, considering all the factors, the market for fracking liquid is anticipated to grow considerably in the following years.
COVID-19 scenario analysis
- Individuals living in territories with poor air quality might be more unsafe from COVID-19, an ailment that affects the lungs. This is attributed to the fact that poor air quality increase the risk of asthma and chronic obstructive pneumonic infection (COPD), which, in turn, makes these patients more susceptible to COVID-19.
- The COVID-19 health crisis is setting off significant changes in the oil and gas industry.
- Oil, gas, and petrochemical makers were confronting monetary vulnerabilities even before COVID-19 started to spread universally. Presently, the financial aspects have never been more severe.
- In the following months, the drilling of oil wells in the U.S. is expected to witness cutbacks and insolvencies.
- After the beginning of the pandemic, energy costs fell by 30% in merely two trading days, due to Saudi Arabia–Russia oil price war.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
One of the most significant factors that is driving the development of fracking liquid market is preference for horizontal drilling of well. Since last few years, remarkable growth has been seen in the activity of horizontal fracking, and the trend is expected to continue throughout the forecast period.
Trends, opportunities, and growth analysis
Surge in demand for energy needs is anticipated into boost the need for fracking fluids. Upsurge in need for power & energy is anticipated to contribute toward the development of fracking liquids market during the forecast period. To meet the growing requirements of the population, the demand for fuel from modern and local fronts has augmented, which positive impacts the growth of the global fracking fuel market. However, less spotlight on different resources of sustainable power energy, ascend in water contamination, dry weather conditions, and alarming rise in sound pollution hinder the growth of the fracking fluid market. To introduce new products in the market and to meet the requirement of changing technology, different fracking fluid organizations are making coordinated efforts and are entering into partnerships to expand their portfolio.
Demand for Fluid in the Market
Consistent endeavors have been taken by all the countries to achieve energy independence and security. Large volume of water is required in the fracking procedure. However, the utilization of fracking methods is increasing substantially in areas with restricted water supply. This has boosted the promotion and utilization of foam-based liquids, which use less water, and are less harmful to nature than water-based liquids used in fracking. Furthermore, R&D activities are being conducted to discover non-polluting liquids, which is projected to offer remunerative opportunities for the development of the fracking liquid market in the coming future.
Key Benefits of the Report:
- This study presents the analytical depiction of the fracking fluid market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fracking fluid market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered In the Fracking Fluid Research Report:
- What are the leading market players active in the fracking fluid market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Fracking Fluid Market Report Highlights
By Well Type Outlook
By Product Outlook
By Industry Vertical
Other Key Market Players
Halliburton Company, Baker Hughes Incorporated, Dow Chemical Company, Albermarle Corporation, Ashland Inc., and Clariant AG