Global fracturing fluids market is all set to reach $19.88 billion by 2020, up from $13.33 billion in 2013, with a CAGR of 6 per cent. Major reasons behind the rise could be increased shale activity in the world and increased number of wells. Same as in Case with hydraulic fracturing and many other oil and gas markets, North America leads the fracturing fluids market too, followed by Asia-Pacific, Latin America, Europe, the Middle East and Africa. The dominance is majorly because of increasing shale and exploration activity in the U.S.
The world is changing from vertical drilling to horizontal drilling as the unconventional areas are being explored. The recent innovations in fracking market are driving the fluids market up. Fracking in recent years have been beefing up the generating horsepower to accommodate horizontal wells rather than vertical ones, and refining of the fluids used to conserve water and create better, longer lasting fractures in the target formation.
The types and use of fracturing fluids have evolved greatly over the past 60 years and continue to evolve. The U.S. oil and gas industry has used fluids for fracturing geologic formations since the early 1940s. Available scientific literature indicates that hydraulic fracturing fluid performance became a prevalent research topic in the late 1980s and the 1990s. Most of the literature pertaining to fracturing fluids relates to the fluids operational efficiency rather than their potential environmental or human health impacts.
Hydraulic fracturing fluids are used to initiate and/or expand fractures, as well as to transport proppant into fractures in coalbed formations. Proppants are sand or other granular substances injected into the formation to hold or prop open coal formation fractures created by hydraulic fracturing. The viscosity of fracturing fluids is considered when they are formulated, to provide for efficient transport and placement of proppant into a fracture. Most of the fracturing fluids injected into the formation are pumped back out of the well along with groundwater and methane gas. This report contains comprehensive analysis of fracturing fluids market. It also has region wise market data for fracturing fluids and fluid types. Key company information and competitive landscape are also included in the report.