Stratview Research announces the launch of a new report on Eco-Friendly Fracking Chemicals Market 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), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This 209-page comprehensive report, from Stratview Research, is one of its kind and 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 low-hanging fruits available in the market as well as formulate growth strategies.
Eco-Friendly Fracking Chemicals Market: Research Highlights
The market for eco-friendly fracking chemicals is in the growth phase and is expected to gain momentum in the coming years to come. 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 pollutes the nearby drinking water resources but also affects agricultural production. Eco-friendly fracking chemicals are a good alternative to these harmful chemicals.
As per a recent study by Stratview Research, 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. Increasing awareness regarding the use of environmental-friendly fracking chemicals, recuperating crude oil prices along with increasing share of hydraulically fractured oil & gas production, and huge reserves of shale gas are the key factors, propelling the demand for eco-friendly fracking chemicals.
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The market is segmented based on the type of chemicals as gelling agent, crosslinker, surfactant, friction reducer, and others. Gelling agent dominates 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 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, 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, 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 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.
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In terms of regions, North America is expected to maintain its unassailable dominance in the global market during the forecast period, driven by the most number of hydraulically fractured wells in the region coupled with the presence of major eco-friendly fracking chemicals 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.
Over 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 report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on 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:
This report studies the eco-friendly fracking chemicals market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Eco-friendly Fracking Chemicals Market, By Chemicals Type
Eco-friendly Fracking Chemicals Market, By Fluid Type
Eco-friendly Fracking Chemicals Market, By Well Type
Eco-friendly Fracking Chemicals Market, By Region
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