Eco-Friendly Fracking Chemicals Market to Grow Beyond US$ 9,948 million by 2025
February 18, 2020
Eco Friendly Fracking Chemicals Market Overview:
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
- increasing awareness regarding the use of environmental-friendly fracking chemicals,
- recuperating crude oil prices along with an increasing share of hydraulically fractured oil & gas production,
- huge reserves of shale gas.
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.
Report Overview:
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.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Off-Road Vehicle Market Segment Insights:
Gelling Agent: The growth engine
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.
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https://www.stratviewresearch.com/toc/814/eco-friendly-fracking-chemicals-market.html
Dominance of: Silkwater
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.
A highly/moderately/fragment consolidated Market
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.
Regional Hegemony of North America
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).
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