New York
City, 23 January 2019: The Global Fracking Chemicals Market is anticipated to reach over USD 65
billion by 2026 according to a new research published by Polaris Market
Research. In 2017, the horizontal well segment dominated the global market, in
terms of revenue. North America is expected to be the leading contributor to
the global market revenue during the forecast period.
A
significant growth in urbanization, population increase, and industrialization
along with government initiatives and funding is expected to support the growth
of fracking chemicals market. Other driving factors include growing demand for
natural gas as a fuel and favorable regulatory policies. Increasing demand from
developing nations, development of environment-friendly fracking chemicals, and
technological advancements are expected provide numerous growth opportunities
to fracking chemicals market players during the forecast period.
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Competitive Landscape and Key Vendors:
North
America generated the highest revenue in the fracking chemicals market in 2017,
and is expected to lead the global market throughout the forecast period. The
high economic growth in the region, growth in drilling and exploration
industries, and growing energy demand are factors expected to drive the
fracking chemicals market growth. Increasing disposable incomes, growing
urbanization, and increasing industrialization in countries of North America
are further expected to support fracking chemicals market growth. Rising
shale gas explorations, and rising demand for natural gas as fuel in the region
are expected to further provide growth opportunities during the forecast
period.
The key
players operating in the fracking chemicals market include Halliburton Co.,
E.I. Dupont De Nemours & Co., BASF SE, Chevron Phillips Chemical Company,
Baker Hughes Incorporated, The DOW Chemical Company, Calfrac Well Services
Ltd., Albermarle Corporation, Akzo Nobel N.V., and Schlumberger Ltd. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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