Fracking Chemicals Market Research Report - Global Forecast till 2030

Global Fracking Chemicals Market Research Report:  By Type (Gelling Agent, Friction Reducer, Corrosion Inhibitor, Biocide, Surfactant, Scale Inhibitor, Clay Stabilizer, Cross-Linkers, Ph Adjusting Agent, Iron Control Agent, and Others), Fluid Type (Water-Based, Oil-Based, and Foam-Based), And Region (Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa)—Forecast till 2030

ID: MRFR/CnM/4613-HCR | February 2021 | Region: Global | 100 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

3.5 List of Assumptions

4 Market Landscape

4.1 Supply Chain Analysis

4.1.1 Raw Material Suppliers

4.1.2 Manufacturers/Producers

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce

4.1.4 End Users

4.2 Porter’s Five Forces Analysis

4.2.1 Threat of New Entrants

4.2.2 Bargaining Power of Buyers

4.2.3 Bargaining Power of Suppliers

4.2.4 Threat of Substitutes

4.2.5 Intensity of Rivalry

5 Market Dynamics of the Global Fracking Chemicals Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Trends/Technology

6. Global Fracking Chemicals Market, by Type

6.1 Introduction

6.2 Gelling Agent

6.2.1 Market Estimates & Forecast, 2020–2027

6.2.2 Market Estimates & Forecast by Region, 2020–2027

6.3 Friction Reducer

6.3.1 Market Estimates & Forecast, 2020–2027

6.3.2 Market Estimates & Forecast by Region, 2020–2027

6.4 Corrosion Inhibitor

6.4.1 Market Estimates & Forecast, 2020–2027

6.4.2 Market Estimates & Forecast by Region, 2020–2027

6.5 Biocide

6.5.1 Market Estimates & Forecast, 2020–2027

6.5.2 Market Estimates & Forecast by Region, 2020–2027

6.6 Surfactant

6.6.1 Market Estimates & Forecast, 2020–2027

6.6.2 Market Estimates & Forecast by Region, 2020–2027

6.7 Scale Inhibitor

6.7.1 Market Estimates & Forecast, 2020–2027

6.7.2 Market Estimates & Forecast by Region, 2020–2027

6.8 Clay Stabilizer

6.8.1 Market Estimates & Forecast, 2020–2027

6.8.2 Market Estimates & Forecast by Region, 2020–2027

6.9 pH Adjusting Agent

6.9.1 Market Estimates & Forecast, 2020–2027

6.9.2 Market Estimates & Forecast by Region, 2020–2027

6.10 Cross Linker

6.10.1 Market Estimates & Forecast, 2020–2027

6.10.2 Market Estimates & Forecast by Region, 2020–2027

6.11 Iron Control Agent

6.11.1 Market Estimates & Forecast, 2020–2027

6.11.2 Market Estimates & Forecast by Region, 2020–2027

6.12 Others

6.12.1 Market Estimates & Forecast, 2020–2027

6.12.2 Market Estimates & Forecast by Region, 2020–2027

7. Global Fracking Chemicals Market, by FluidType

7.1 Introduction

7.2 Water-Based

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast by Region, 2020–2027

7.3 Oil-Based

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast by Region, 2020–2027

7.4 Foam-Based

7.4.1 Market Estimates & Forecast, 2020–2027

7.4.2 Market Estimates & Forecast by Region, 2020–2027

8. Global Fracking Chemicals Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast by Type, 2020–2027

8.2.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020–2027

8.2.4.2 Market Estimates & Forecast by Type, 2020–2027

8.2.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020–2027

8.2.5.2 Market Estimates & Forecast by Type, 2020–2027

8.2.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast by Type, 2020–2027

8.3.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2020–2027

8.3.4.2 Market Estimates & Forecast by Type, 2020–2027

8.3.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2020–2027

8.3.5.2 Market Estimates & Forecast by Type, 2020–2027

8.3.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2020–2027

8.3.6.2 Market Estimates & Forecast by Type, 2020–2027

8.3.6.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2020–2027

8.3.7.2 Market Estimates & Forecast by Type,2020–2027

8.3.7.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2020–2027

8.3.8.2 Market Estimates & Forecast by Type,2020–2027

8.3.8.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2020–2027

8.3.9.2 Market Estimates & Forecast by Type,2020–2027

8.3.9.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2020–2027

8.3.10.2 Market Estimates & Forecast by Type, 2020–2027

8.3.10.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2020–2027

8.3.11.2 Market Estimates & Forecast by Type, 2020–2027

8.3.11.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020–2027

8.4.2 Market Estimates & Forecast by Type, 2020–2027

8.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020–2027

8.4.4.2 Market Estimates & Forecast by Type, 2020–2027

8.4.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020–2027

8.4.5.2 Market Estimates & Forecast by Type, 2020–2027

8.4.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020–2027

8.4.6.2 Market Estimates & Forecast by Type, 2020–2027

8.4.6.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020–2027

8.4.7.2 Market Estimates & Forecast by Type, 2020–2027

8.4.7.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020–2027

8.4.8.2 Market Estimates & Forecast by Type, 2020–2027

8.4.8.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020–2027

8.5.2 Market Estimates & Forecast by Type, 2020–2027

8.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5.4 Turkey

8.5.4.1 Market Estimates & Forecast, 2020–2027

8.5.4.2 Market Estimates & Forecast by Type, 2020–2027

8.5.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020–2027

8.5.5.2 Market Estimates & Forecast by Type, 2020–2027

8.5.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020–2027

8.5.6.2 Market Estimates & Forecast by Type, 2020–2027

8.5.6.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5.7 GCC

8.5.7.1 Market Estimates & Forecast, 2020–2027

8.5.7.2 Market Estimates & Forecast by Type, 2020–2027

8.5.7.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020–2027

8.5.8.2 Market Estimates & Forecast by Type, 2020–2027

8.5.8.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020–2027

8.6.2 Market Estimates & Forecast by Type, 2020–2027

8.6.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020–2027

8.6.4.2 Market Estimates & Forecast by Type, 2020–2027

8.6.4.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020–2027

8.6.5.2 Market Estimates & Forecast by Type, 2020–2027

8.6.5.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020–2027

8.6.6.2 Market Estimates & Forecast by Type, 2020–2027

8.6.6.3 Market Estimates & Forecast by Fluid Type, 2020–2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020–2027

8.6.7.2 Market Estimates & Forecast by Type, 2020–2027

8.6.7.3 Market Estimates & Forecast by Fluid Type, 2020–2027

9. Company Landscape

9.1 Introduction

9.2 Market Strategies

9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)

10. Company Profiles

10.1 AkzoNobel N.V.

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.3 Product/Business Segment Overview

10.1.4 Key Strategies

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 Ashland Inc.

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.3 Product/Business Segment Overview

10.2.4 Key Strategies

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.3 Baker Hughes Incorporated

10.3.1 Company Overview

10.3.2 Financial Updates

10.3.3 Product/Business Segment Overview

10.3.4 Key Strategies

10.3.5 Key Developments

10.3.6 SWOT Analysis

10.4 Halliburton

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.3 Product/Business Segment Overview

10.4.4 Key Strategies

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 Schlumberger Limited

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.3 Product/Business Segment Overview

10.5.4 Key Strategies

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 BASF SE

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.3 Product/Business Segment Overview

10.6.4 Key Strategies

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 Chevron Phillips Chemical Company

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.3 Product/Business Segment Overview

10.7.4 Key Strategies

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 Clariant International AG

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.3 Product/Business Segment Overview

10.8.4 Key Strategies

10.8.5 Key Developments

10.8.6 SWOT Analysis

10.9 DowDuPont

10.9.1 Company Overview

10.9.2 Financial Updates

10.9.3 Product/Business Segment Overview

10.9.4 Key Strategies

10.9.5 Key Developments

10.9.6 SWOT Analysis

10.10 Albemarle Corporation

10.10.1 Company Overview

10.10.2 Financial Updates

10.10.3 Product/Business Segment Overview

10.10.4 Key Strategies

10.10.5 Key Developments

10.10.6 SWOT Analysis

10.11 FTS International Inc.

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.3 Product/Business Segment Overview

10.11.4 Key Strategies

10.11.5 Key Developments

10.11.6 SWOT Analysis

10.12 Calfrac Well Services Ltd.

10.12.1 Company Overview

10.12.2 Financial Updates

10.12.3 Product/Business Segment Overview

10.12.4 Key Strategies

10.12.5 Key Developments

10.12.6 SWOT Analysis

10.13 EOG Resources, Inc.

10.13.1 Company Overview

10.13.2 Financial Updates

10.13.3 Product/Business Segment Overview

10.13.4 Key Strategies

10.13.5 Key Developments

10.13.6 SWOT Analysis

11. Conclusion

LIST OF TABLES


Table 1 Global Fracking Chemicals Market: By Region, 2020–2027

Table 2 North America Fracking Chemicals Market: By Country, 2020–2027

Table 3 Europe Fracking Chemicals Market: By Country, 2020–2027

Table 4 Asia-Pacific Fracking Chemicals Market: By Country, 2020–2027

Table 5 Middle East & Africa Fracking Chemicals Market: By Country, 2020–2027

Table 6 Latin America Fracking Chemicals Market: By Country, 2020–2027

Table 7 Global Fracking Chemicals Type Market: By Regions, 2020–2027

Table 8 North America Fracking Chemicals Type Market: By Country, 2020–2027

Table 9 Europe Fracking Chemicals Type Market: By Country, 2020–2027

Table10 Asia-Pacific Fracking Chemicals Type Market: By Country, 2020–2027

Table11 Middle East & Africa Fracking Chemicals Type Market: By Country, 2020–2027

Table12 Latin America Fracking Chemicals Type Market: By Country, 2020–2027

Table 13 Global Fracking Chemicals Fluid Type Market: By Regions, 2020–2027

Table14 North America Fracking Chemicals Fluid Type Market: By Country, 2020–2027

Table15 Europe Fracking Chemicals Fluid Type Market: By Country, 2020–2027

Table16 Asia-Pacific Fracking Chemicals Fluid Type Market: By Country, 2020–2027

Table17 Middle East & Africa Fracking Chemicals Fluid Type Market: By Country, 2020–2027

Table18 Latin America Fracking Chemicals by Fluid Type Market: By Country, 2020–2027

Table19 Global Type Market: By Region, 2020–2027

Table20 Global Fluid Type Market: By Region, 2020–2027

Table21 North America Fracking Chemicals Market, by Country

Table22 North America Fracking Chemicals Market, by Type

Table23 North America Fracking Chemicals Market, by Fluid Type

Table24 Europe: Fracking Chemicals Market, by Country

Table25 Europe: Fracking Chemicals Market, by Type

Table26 Europe: Fracking Chemicals Market, by Fluid Type

Table27 Asia-Pacific: Fracking Chemicals Market, by Country

Table28 Asia-Pacific: Fracking Chemicals Market, by Type

Table29 Asia-Pacific: Fracking Chemicals Market, by Fluid Type

Table30 Middle East & Africa: Fracking Chemicals Market, by Country

Table31 Middle East & Africa Fracking Chemicals Market, by Type

Table32 Middle East & Africa: Fracking Chemicals Market, by Fluid Type

Table33 Latin America: Fracking Chemicals Market, by Country

Table34 Latin America Fracking Chemicals Market, by Type

Table35 Latin America: Fracking Chemicals Market, by Fluid Type

LIST OF FIGURES

FIGURE 1 Global Fracking Chemicals Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Fracking Chemicals Market

FIGURE 4 Value Chain of the Global Fracking Chemicals Market

FIGURE 5 Share of the Global Fracking Chemicals Market in 2020, by Country

FIGURE 6 Global Fracking Chemicals Market, 2020–2027,

FIGURE 7 Global Fracking Chemicals Market Size, by Type, 2020

FIGURE 8 Share of the Global Fracking Chemicals Market, by Type, 2020–2027

FIGURE 9 Global Fracking Chemicals Market Size, by Fluid Type, 2020

FIGURE10 Share of the Global Fracking Chemicals Market, by Fluid Type, 2020–2027

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Fracking Chemicals Market Synopsis

The fracking chemicals market is expected to register a CAGR of 6.54% during the forecast period, 2021-2030.

Fracking chemicals are the chemicals used in drilling operations along with water and sand to increase the extraction efficiency of hydrocarbons. The composition of the fracking fluid (fracking chemicals, water, and sand mixture) varies with each industry player depending on the availability of water in the manufacturing facility and regulations instructed by local as well as state governments. The hydraulic fluid can be water-based, oil-based, or foam-based. The fracking chemicals help to increase the extraction of oil and natural gas per well by hydraulic fracturing of the rocks by pressurization, thereby reducing the total number of wells needed to extract resources. Fracking chemicals also allow the commercialization of low permeability reservoirs in which oil and gas are not easily found for extraction. Fracking chemicals perform several functions such as a carrier, solvent, biocides, scale inhibitor, friction reducer, additive, corrosion inhibitor, and non-ionic surfactants.
Rising demand for oil & gas across the globe owing to the growing fuel & energy demand on account of expanding population is the major growth driver to the global fracking chemicals market. Additionally, shifting trend toward horizontal drilling owing to its systemic mechanism to recover the unusual shale reserves with hydraulic fracturing technology is also contributing to the growth of the fracking chemicals market. Besides this, the continued development of unconventional sources of oil and gas in order to ensure energy security and to lessen dependence on foreign oil imports in many countries are also propelling the growth of the product market significantly.

However, many fracking chemicals are identified as toxic and possess high VOC content by the US Environmental Protection Agency (EPA), which may restrict market growth during the forecast period.
Moreover, various companies are investing in R&D and are striving toward the development of eco-friendly fracking chemicals. For instance, Halliburton Company has initiated the production of bio-based drill muds from guar gum to expand its product portfolio and meet the stringent regulations by the US EPA against the use of toxic fracking chemicals. Furthermore, non-toxic drilling fluids are developed, such as foam-based fluid (FBF), as an alternative to toxic oil-based fluid (OBF), which is difficult to remove from the drill hole. These research & development activities are expected to exhibit intense growth opportunities to the players operating in the global fracking chemicals market during the forecast period.

Global Fracking Chemicals Market Share in 2017, by Type Source: MRFR Analysis

Market Segmentation

The global fracking chemicals market has been segmented by type, fluid type, and region. On the basis of the function, the global fracking chemicals market has been segmented into the gelling agent, friction reducer, corrosion inhibitor, biocide, surfactant, scale inhibitor, clay stabilizer, cross-linkers, pH adjusting agent, iron control agent, and others. By fluid type, the global fracking chemical market has been categorized into water-based, oil-based, and foam-based.

Regional Analysis

The global fracking chemicals market has been segmented into five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.  North America accounted for the largest share of the global fracking chemicals market in 2018 and is expected to show significant growth during the forecast period. The presence of a developed drilling industry due to major shale gas revolution in the US is majorly contributing to the demand for fracking chemicals in the region. Furthermore, advanced technology available to drill and recover oil & gas from unconventional resources is also boosting the market growth at an exponential rate. Europe is another major market for fracking chemicals due to growing offshore oilfield activities in the North Sea for exploring newer reserves.  Furthermore, the high rate of deployment of the mud-cap drilling technique in the region is also likely to create new growth opportunities for the fracking chemical companies in the next five years.

The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Rapid industrialization & urbanization in emerging economies of the region have vastly increased the demand for fuel and energy and thus, positively influencing the oilfield industry. The majority of oil & gas exploration and production activities are centered in China, Indonesia, South Korea, Australia, and India. The Middle East & Africa is expected to showcase increasing demand for fracking chemicals during the forecast period due to the high concentration of oilfield reserves and established oil & gas industries in the region. Latin America held the least share of the global fracking chemicals market in 2018 and is also expected to show sluggish growth during the forecast period due to the lesser number of oil & gas reserves in the region.

Key Players Some of the major players operating in the global fracking chemicals market are AkzoNobel N.V. (The Netherlands), Ashland Inc. (US), Baker Hughes Incorporated (US), Halliburton. (US), Schlumberger Limited (US), BASF SE (Germany), Chevron Phillips Chemical Company (US), Clariant International AG (Switzerland), DowDuPont (US), Albemarle Corporation. (US), FTS International Inc. (US), Calfrac Well Services Ltd. (Canada), and EOG Resources, Inc. (US).

Recent Development

October 2021- Liberty Oilfield Services Inc., a Denver-based company, has announced the completion of acquiring a prominent supplier of proppant delivery equipment, software, and logistics solutions, PropX. The company reported a 12% in third-quarter revenue this year. Liberty becomes the send-largest provider of natural gas & oil producers with fracking and well-completion services, with this deal worth USD90 million. The deal comprised of USD5 million in cash and the other 5.8 million shares of Liberty’s common stock having net valued of over USD76.5 million based on a 30-day average closing share price of USD13.08.
PropX, established in 2016, is a prominent supplier of last-mile proppant delivery solutions, including logistics software and proppant handling equipment across the North American region. The company offers advanced eco-friendly technology coupled with benefits such as canceling out emissions, reducing noise, driving logistics efficiency, wellsite proppant handling equipment, and better dry and wet sand containers.

April 2021- California is set to ban new oil fracking by 2024 under an executive order that Gov. Gavin Newsom, announced that with small fanfare following months of confusing mixed messages.
The order came as a shock to the oil firms in the state but a narrow victory for environmentalists, who have been forcing Newsom to do more to combat fossil fuels, pollutions, and climate change pollution in disadvantaged communities.

Intended Audience


  • Fracking chemicals manufacturers

  • Traders and distributors of fracking chemicals

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   6.54% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Fluid Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   AkzoNobel N.V. (The Netherlands), Ashland Inc. (US), Baker Hughes Incorporated (US), Halliburton. (US), Schlumberger Limited (US), BASF SE (Germany), Chevron Phillips Chemical Company (US), Clariant International AG (Switzerland), DowDuPont (US), Albemarle Corporation. (US), FTS International Inc. (US), Calfrac Well Services Ltd. (Canada), and EOG Resources, Inc. (US)
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Rising demand for oil & gas across the globe


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Frequently Asked Questions (FAQ) :

Fracking chemicals are a wide range of chemicals used in oil and gas drilling operations to make the extraction of hydrocarbons an easier process.

The market is expected to exhibit a strong 6.54% CAGR over the forecast period from 2021 to 2030.

The growing demand for fracking is the major driver for the fracking chemicals market.

North America is the major regional market for fracking chemicals due to the growing preference for fracking in the region.

Leading players in the fracking chemicals market include AkzoNobel, BASF, and Ashland, among others.