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Global Fracking Fluids Market: Overview

Hydraulic fracturing or fracking is a well-stimulation technique in which rock is fractured by a pressurized liquid called fracking fluid. Fluids used in the process are foam-based, water-based, and gelled-oil-based products. Fracking fluids can be classified based on the type of well they are used in, into horizontal and vertical wells. Owing to the development of unconventional reserves, drilling technology has been changing from predominantly vertical to predominantly horizontal. Horizontal drilling is used to extract oil & gas resources by covering a large surface area and increasing the rate of production of gas. This trend, in turn, would increase the consumption of fracking fluids, as horizontal fracking requires greater amounts of the material. The rising demand for fuel and electricity is the driving force behind the fracking fluids market.

Global Fracking Fluids Market: Trends and Opportunities

The demand for fuel from the domestic and industrial fronts to cover the increased population across the globe would result in the growth of the fracking fluid market. Continuous efforts have been taken by all the nations to achieve energy independence and security. All countries are keen on shifting to natural gas and are calling for a wide-ranging shift from imported fuels to domestic natural gas. However, fracking has been facing a lot of opposition due to the environmental hazards caused by the process, which in turn is expected to hamper the growth of the market.

Also a large amount of water is required in the fracking process; hence, concerns regarding the use of fracking techniques are rising in regions with limited water supply. This problem is being addressed by capitalizing and using foam-based fluids, which utilize less water and are less harmful to the environment than water-based fluids in fracking.  Extensive research and development is being carried out to find eco-friendly fracking fluids; this is expected to act as an opportunity for the growth of the fracking fluid market.

Global Fracking Fluids Market: Geographical Dynamics

In 2014, North America has accounted for the largest share of fracking fluids, followed by Asia Pacific. Modern fracking techniques used to obtain oil and gas from abundant reserves are driving the fracking fluid market in North America. Other regions such as Latin America, Middle East and Africa, and Europe account for less than one-third of the total fracking fluid market. Asia Pacific is expected to contribute to the significant growth of the fracking fluid market due to increasing consumption of fuels in the region in domestic and industrial activities.

Also, new reserves of shale gas have been found in China, leading to increased consumption of fracking fluids. In order to meet increasing energy demand, oil & gas companies are working to develop these shale reserves of oil and gas for extraction through hydraulic fracturing. Efforts are being taken to find more economical and environmentally safer ways of extracting oil using fracking fluids and increase production rate of oils from wells.

Global Fracking Fluids Market: Competitive Landscape

Some of the key players in the fracking fluid market are Baker Hughes, Calfrac Well Services Ltd., Chevron Phillips Chemical, Halliburton, BASF, The Linde Group, Trican Well Services, Schlumberger Ltd., Akzo Nobel, Weatherford International, DuPont, FTS International, Solvay S.A, Dow Chemical Company, Albemarle Corporation, Clariant, and Ashland Inc.

The fracking fluid market has witnessed backward integration of the fracking companies into the production of fracking fluids. Not only hydraulic fracturing companies but also chemicals companies have set up individual departments for the development of oilfield chemicals that operate to produce the fluids and chemicals with the desired properties.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fracking Fluids Market

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