Europe Hydraulic Fracturing Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The European Hydraulic Fracturing Fluids Market is Segmented by Resource Type (Oil and Natural Gas), Fluid Type (Slick Water-based Fluid, Foam-based Fluid, Gelled Oil-based Fluid, and Other Base Fluids), Well Type (Horizontal and Vertical), and Geography (Russia, United Kingdom, Norway, and Rest of Europe). The report offers the market size and forecasts for the market in USD billion for the above segments.

Europe Hydraulic Fracturing Fluids Market Size

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Europe Hydraulic Fracturing Fluids Market Summary
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Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 0.66 %

Major Players

Europe Hydraulic Fracturing Fluids Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Hydraulic Fracturing Fluids Market Analysis

The European hydraulic fracturing fluids market is expected to record a CAGR of more than 0.66% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the long term, the increasing demand for oil and gas and the countries trying to reduce their dependence on imports have been boosting the growth in the sector.
  • On the other hand, the impact of hydraulic fracturing on the environment and technological constraints have impeded the growth in the industry. Many countries, including the Netherlands and Ireland, have banned the process of hydraulic fracturing, which also caused concerns in the hydraulic fracturing market.
  • The pipeline being built through the Baltic Sea is expected to add to the demand for Russian gas. An increase in demand may lead companies to invest in unconventional resources, which can become an opportunity for companies in the oil and gas industry.
  • Russia is expected to dominate the market over the forecast period due to the presence of economically feasible shale reserves in the country.

Europe Hydraulic Fracturing Fluids Market Trends

This section covers the major market trends shaping the Europe Hydraulic Fracturing Fluids Market according to our research experts:

Natural Gas to Witness Significant Growth

  • Natural gas is a cleaner alternative to oil, and its demand is likely to increase considerably during the forecast period. New projects of natural gas-powered plants, LNG bunkering, and district heating are expected to increase the demand for natural gas in Europe.
  • The only countries that are expected to use hydraulic fracturing in Europe are the United Kingdom, Russia, and, to some extent, Poland. However, technological constraints in Poland, economic feasibility issues in Russia, and environmental concerns in the United Kingdom have impeded growth in the sector.
  • In February 2022, six new oil and gas fields in the North Sea received approval from the UK government. The finance department pushed the senior authorities to fast-track the licenses for constructing the six energy areas. The growing natural gas fields will support the growth of the hydraulic fracturing fluids market in the future.
  • Hence, shale gas production is expected to increase through hydraulic fracturing. Still, a lot is dependent upon the price of shale gas and technological constraints in the production of shale gas.
Europe Hydraulic Fracturing Fluids Market - Natural Gas production, in billion cubic meters, by countries, Europe, 2015-2021

Russia to Dominate the Market

  • Russia has significant shale oil and the biggest potential in shale gas reserves. Bazhenov Shale is known to be the biggest shale reserve in the world. As cheaper sites are abundant, shale gas development in Bazhenov is expected to start in 2024.
  • As of 2021, Russia is the world's second-largest producer of natural gas, behind the United States. It also has the world's largest gas reserves and is the world's largest gas exporter. In 2021, the country produced 762 bcm of natural gas and exported approximately 210 bcm via pipeline.
  • The pipeline being built through the Baltic Sea (Nord Stream 2) is expected to add to the demand for Russian gas. As of now, the pipeline must go through several countries, which increases the cost of the overall gas, thereby reducing the profit margin for Russian corporations.
  • Russia has been expanding its liquefied natural gas (LNG) capacity to compete with growing LNG exports from the United States, Australia, and Qatar. In 2021, the government released a long-term LNG development plan, targeting 110-190 bcm/year LNG exports by 2025.
  • In February 2022, Yakutia LNG, a 17.7 million metric ton/year (mmty) liquefaction project proposed for the Russian Republic of Yakutia, is planned to start in 2027 to deliver liquefied natural gas (LNG) from Russia's Far Eastern coast to China. This project is expected to reach a final investment decision (FID) in 2023.
  • Hence, Russia is expected to dominate the market due to an increase in investments in the hydraulic fracturing sector and the private sector's push to discover new avenues of growth in the oil and gas industry.
Europe Hydraulic Fracturing Fluids Market - Liquefaction Plants in Russia, by annual capacity, as of November 2022, Russian Federation

Europe Hydraulic Fracturing Fluids Industry Overview

The European hydraulic fracturing fluids market is moderately fragmented. Some of the key players in the market (in no particular order) include Cuadrilla Resources Ltd, PJSC Rosneft Oil Company, PJSC Gazprom, PAO NOVATEK, and IGas Energy PLC.

Europe Hydraulic Fracturing Fluids Market Leaders

  1. Cuadrilla Resources Ltd.

  2. PJSC Rosneft Oil Company

  3. PJSC Gazprom

  4. PAO NOVATEK

  5. IGas Energy Plc

*Disclaimer: Major Players sorted in no particular order

Europe Hydraulic Fracturing Fluids Market Concentration
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Europe Hydraulic Fracturing Fluids Market News

  • In September 2022, Gazprom Neft and Mekamineft announced their plan to test the first Russian hydraulic fracturing fleet at the fields in KhMAO-Yugra. The agreement between the companies was signed at the Industrial and Energy Forum in Tyumen. The tests of the modern domestic complex will take place in 2023.

Europe Hydraulic Fracturing Fluids Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, Until 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resource Type

      1. 5.1.1 Oil

      2. 5.1.2 Natural Gas

    2. 5.2 Fluid Type

      1. 5.2.1 Slick Water-based Fluid

      2. 5.2.2 Foam-based Fluid

      3. 5.2.3 Gelled Oil-based Fluid

      4. 5.2.4 Other Fluid Types

    3. 5.3 Well Type

      1. 5.3.1 Horizontal

      2. 5.3.2 Vertical

    4. 5.4 Geography

      1. 5.4.1 United Kingdom

      2. 5.4.2 Russia

      3. 5.4.3 Norway

      4. 5.4.4 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Cuadrilla Resources Ltd

      2. 6.3.2 PJSC Rosneft Oil Company

      3. 6.3.3 PJSC Gazprom

      4. 6.3.4 IGas Energy PLC

      5. 6.3.5 PAO NOVATEK

      6. 6.3.6 Equinor ASA

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Europe Hydraulic Fracturing Fluids Industry Segmentation

Hydraulic fluid fracturing has been used by the oil and gas industry to boost hydrocarbon production since 1947. It is a process in which a special fluid is injected into a wellbore to induce fractures and facilitate access to oil and gas. 

The European hydraulic fracturing fluids market is segmented by resource type, fluid type, well type, and geography. By resource type, the market is segmented by oil and natural gas. By fluid type, the market is segmented by slick water-based fluid, foam-based fluid, gelled oil-based fluid, and other base fluids. By well type, the market is segmented by horizontal and verical wells. The report also covers the market size and forecasts for the market across the major countries. For each segment, the market size and forecasts have been done in USD billion.

Resource Type
Oil
Natural Gas
Fluid Type
Slick Water-based Fluid
Foam-based Fluid
Gelled Oil-based Fluid
Other Fluid Types
Well Type
Horizontal
Vertical
Geography
United Kingdom
Russia
Norway
Rest of Europe
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Europe Hydraulic Fracturing Fluids Market Research FAQs

The Europe Hydraulic Fracturing Fluids Market is projected to register a CAGR of 0.66% during the forecast period (2024-2029)

Cuadrilla Resources Ltd. , PJSC Rosneft Oil Company , PJSC Gazprom , PAO NOVATEK and IGas Energy Plc are the major companies operating in the Europe Hydraulic Fracturing Fluids Market.

The report covers the Europe Hydraulic Fracturing Fluids Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Europe Hydraulic Fracturing Fluids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Hydraulic Fracturing Fluids Industry Report

Statistics for the 2024 Europe Hydraulic Fracturing Fluids market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Hydraulic Fracturing Fluids analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Europe Hydraulic Fracturing Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)