In a recent published report, Kenneth Research has updated the market report for Fracking Fluid and Chemicals Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fracking Fluid and Chemicals Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Hydraulic fracturing is a process in which underground rock formations are fractured with the help of pressurized water, Proppants and chemical additives to release natural gas or petroleum for extraction. It has changed the overall global energy landscape and this process relies on fracking fluids. A mixture of chemicals and fluids is used to fracture the non-conventional and conventional formation of older gas and oil fields those having higher production rate. It can be processed in both horizontal and vertical wells, Liquid-based method at present dominates the market.
The market of fracking fluid and chemical is expected to rise to an estimated CAGR of 10.3% by 2028.
There are many factors which act as drivers for the market such as continued use of hydraulic fracturing to get fuel from unconventional energy sources such as tight sand stone, coalbed methane etc. Other key drivers of the field include rising global natural gas prices, the need to fill the gap between supply and demand of oil and gas reserves. Continuous R&D is taking place in the field which is resulting in the development of better products such as development of eco friendly chemicals, waterless fracturing foam etc. Some of the restraints of the market which are hindering its growth are problems related to environmental safety, health hazards occurring due to it and technical complexities which are based on geological conditions.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Fracking fluid chemicals can be segmented on the basis of fluid type, well type and function type. Based on geography crop protection chemicals are divided into four regions majorly North America, Europe, Asia-Pacific, Rest of the world, where the market is dominated by North America. Some of the major market players include Halliburton, Baker Hughes, Dupont, Dow chemical company, Pioneer natural resources.
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Companies Profiled include
1. Dow chemical company
2. Schlumberger
3. Baker Hughes
4. Halliburton Energy Services Inc.
5. Anadarko petroleum crop
6. EOG resources Inc.
7. FTS international
8. Weatherford international
9. Pioneer natural resources
10. Marathon Oil co.
11. Sandridge Energy
12. Baker hughes
13. EOG resources
14. Pioneer natural resources
15. Economy polymers and chemicals
16. FTS international
17. Chemplex L.C.
18. Halliburton Energy services
19. Nabors completion and production services
20. Trican
21. Nabors completion and production services
22. Champion technologies
23. C & J energy services
24. Reagent chemical and research
25. Universal well services
26. XTO Energy Inc.
27. Cabot oil & gas corp.
28. Dominion
29. Encana Corp.
30. Chesapeake Energy. Corp
This Research Report covers
1. Historical data
2.Revenue forecasts, growth rates and CAGR up to 2028
3.Industry Analysis
4.Competitive Analysis
5. Key geographic growth data
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WHAT IS THE SCOPE OF THE REPORT WITH IMPACT OF COVID-19?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
WHICH MARKET DYNAMICS AFFECTS THE BUSINESS DURING COVID-19?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
- Key Topic Covered in this Report
- Market Growth Opportunities
- Leading Market Players
- Market Size and Growth Rate
- Market Growth Drivers
- Company Market Share
- Market Trends and Technological Innovations
- Impact Analysis of COVID-19 (CORONA Pandemic) on Global Market
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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Fracking Fluid and Chemicals Market
