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Eco Friendly Fracking Chemicals Market | Covid-19 Impact Analysis
Eco-Friendly Fracking Chemicals Market is Segmented by Chemical Type (Gelling Agent, Crosslinker, Surfactant, Friction Reducer, and Others), by Fluid Type (Slickwater, Linear Gel, and Crosslinked Gel), by Well Type (Horizontal Well and Vertical Well), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The eco-friendly fracking chemicals market is projected to grow at a promising CAGR of 7.6% over the next five years to reach US$ 9,948 million in 2025.
The market is driven by
The market for eco-friendly fracking chemicals is in the growth phase and is expected to gain momentum in the coming years too. The prime factor contributing to the growth of this market is the harmful environmental impact of the traditionally used fracking chemicals. The toxic fracking chemicals lead to soil and water contamination, which not only pollute the nearby drinking water resources but also affect agricultural production. Eco-friendly fracking chemicals are a good alternative to these harmful chemicals.
The eco-friendly fracking chemicals market is segmented based on the type of chemicals as gelling agent, crosslinker, surfactant, friction reducer, and others. Gelling agent dominated the market because of the use of a large amount of gelling agent in linear gel and crosslinked gel fracking fluids. Furthermore, there is a sheer interest in the use of the eco-friendly gelling agents in the industry. Guar gum is biodegradable and an environmentally friendly gelling agent. Friction reducer is the fastest-growing segment, owing to its use in slickwater fracking fluid.
Based on the fluid type, the eco-friendly fracking chemicals market is segmented as slickwater, linear gel, and crosslinked gel fracking fluid. Slickwater is expected to remain the largest as well as the fastest-growing segment during the forecast period. Various benefits offered by slickwater fracking fluids, such as better production results at a reduced cost, make it the dominant segment.
Based on the well type, the eco-friendly fracking chemicals market is segmented as horizontal well and vertical well. Horizontally drilled well dominated the market in 2019 and is anticipated to maintain its dominance over the next five years as well. For the past few years, the share of the hydraulically fractured horizontal wells has constantly been increasing because of their various benefits including an efficient extraction of oil and natural gas and reduced surface impact as several wells can be drilled from one location.
In terms of regions, North America is expected to maintain its dominance in the global market during the forecast period, driven by the highest number of hydraulically fractured wells in the region coupled with the presence of major eco-friendly fracking chemical manufacturers, increasing awareness regarding the use of environmentally friendly fracking chemicals, and a large amount of technically recoverable shale oil and gas reserves in the region. The USA is not only the largest market in North America but also in the world.
During the same period, Asia-Pacific is projected to grow at the highest rate, driven by increasing investments in the exploration and production of oil and natural gas in China and rising concern for protecting the environment from the harmful effects of fracking chemicals. China owns the highest technically recoverable shale gas reserves (31.6 trillion cubic meters).
The supply chain of this market comprises raw material suppliers, eco-friendly fracking chemical suppliers, fracturing service providers, and operators. Major players in the market, such as Halliburton Company, Schlumberger Limited, and Bakers Hughes, provide both, environmentally friendly fracking fluids as well as chemicals.
This 209-page comprehensive report, from Stratview Research, on ‘Eco-friendly Fracking Chemicals Market’ estimates the current as well as future growth opportunities for the market participants until 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits in the market as well as formulation of the growth strategies.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The eco-friendly fracking chemicals Market is segmented into the following categories.
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Company Profiling of Key Players
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