Fracturing chemicals fluids market driven by rising energy

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Fracturing chemicals fluids market driven by rising energy

Post by bejoy »

The global fracking chemicals & fluids market size was valued at $23.98 billion in 2016, and is projected to grow at an estimated CAGR of 10.3 percent from 2017 to 2025. Growing energy demand for energy owing to the increasing population is expected to be the key factor driving market growth, according to a report by Grand View Research.

Chemicals are added to water and sand to obtain the desired mixture of fracking fluid. A huge quantity of chemicals, approximately 40,000 gallons is used in one fracturing operation. Usually around 4 to 12 additives are required per fracturing operation. Various additives including, sodium chloride, ethylene glycol, guar gum, citric acid, polyacrylamide, acetic acid, hydrochloric acid, potassium carbonate and borate salts, can be used as per the requirements of the well being drilled.

The fracking chemicals and fluids market in the US was 1,467.0 kilo tonnes in 2016 and is expected to grow significantly over the forecast period. The demand for energy is increasing, on account of the growing industrialization in the region. This factor is expected to propel the market in the region.

Fracturing fluids are usually a mixture of proppant, water and chemical additives. Various other compressed gases including, carbon dioxide and nitrogen, along with gels are added into the mixture as per the requirements. Numerous proppants including, silica, bauxite, resin-coated sand, and ceramics are also added to the mixture according to the grain strength and permeability needed.

The fracking chemicals used vary depending on the water characteristics, well conditions and the desired fracturing type. The mixture utilized can be water based, oil based, synthetic based or foam based. The fluids utilized are injected into the wells at a high velocity to create large fractures in order to allow the drill to pass through easily. The important factors of fracking fluids consist of pH, viscosity and rheological factors.

Companies in the market are investing in R&D activities and are striving towards the development of environment-friendly fracking chemicals. Development of new product, including non-toxic drilling fluids and foams as an alternative to toxic oil based fluid (OBF), which is difficult to remove from the drill hole is anticipated to drive the industry growth.

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