Fracking Chemicals and Fluids Market-Used in the Hydraulic Fracturing of Rock by a Pressurized Fluid: Experiencing Noticeable Growth in Industry by 2024

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REPORT DESCRIPTION

Fracking chemicals and fluids are a range of chemicals and solutions which are used in the hydraulic fracturing of rock by a pressurized

fluid. They are classified on the basis of horizontal and vertical products. Various types of fluids are used in the process such as waterbased, foam-based, and gelled oil based products. In terms of chemicals, certain solutions such as corrosion inhibitors, scale inhibitors,

surfactants and friction reducers are applied in the process of fracking. The market has been witnessing a positive growth, due to the

continued development of unconventional sources of oil and gas, coupled with the growing demand for energy security in many countries.

The market for fracking fluids and chemicals has been experiencing noticeable growth on account of the changing trends in drilling from

vertical to horizontal as more unconventional reserves are being tapped. Resources such as shale gas require significant amount of

horizontal drilling to cover a large surface area, increasing the rate of production of gas which in turn is expected to boost the demand for

fracking fluids in horizontal drilling applications.

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However, fracking has been facing a lot of oppositions due to environmental hazards caused by fracturing which in turned is expected to

hamper the growth of...