Kenneth Research has evaluated the current market opportunities in Fracking Fluid and Chemicals Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fracking Fluid and Chemicals Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Hydraulic fracturing is a process in which underground rock formations are fractured with the help of pressurized water, Proppants and chemical additives to release natural gas or petroleum for extraction. It has changed the overall global energy landscape and this process relies on fracking fluids. A mixture of chemicals and fluids is used to fracture the non-conventional and conventional formation of older gas and oil fields those having higher production rate. It can be processed in both horizontal and vertical wells, Liquid-based method at present dominates the market.
There are many factors which act as drivers for the market such as continued use of hydraulic fracturing to get fuel from unconventional energy sources such as tight sand stone, coalbed methane etc. Other key drivers of the field include rising global natural gas prices, the need to fill the gap between supply and demand of oil and gas reserves. Continuous R&D is taking place in the field which is resulting in the development of better products such as development of eco friendly chemicals, waterless fracturing foam etc. Some of the restraints of the market which are hindering its growth are problems related to environmental safety, health hazards occurring due to it and technical complexities which are based on geological conditions.
Fracking fluid chemicals can be segmented on the basis of fluid type, well type and function type. Based on geography crop protection chemicals are divided into four regions majorly North America, Europe, Asia-Pacific, Rest of the world, where the market is dominated by North America. Some of the major market players include Halliburton, Baker Hughes, Dupont, Dow chemical company, Pioneer natural resources.
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Companies Profiled include
1. Dow chemical company
2. Schlumberger
3. Baker Hughes
4. Halliburton Energy Services Inc.
5. Anadarko petroleum crop
6. EOG resources Inc.
7. FTS international
8. Weatherford international
9. Pioneer natural resources
10. Marathon Oil co.
11. Sandridge Energy
12. Baker hughes
13. EOG resources
14. Pioneer natural resources
15. Economy polymers and chemicals
16. FTS international
17. Chemplex L.C.
18. Halliburton Energy services
19. Nabors completion and production services
20. Trican
21. Nabors completion and production services
22. Champion technologies
23. C & J energy services
24. Reagent chemical and research
25. Universal well services
26. XTO Energy Inc.
27. Cabot oil & gas corp.
28. Dominion
29. Encana Corp.
30. Chesapeake Energy. Corp
This Research Report covers
1. Historical data
2.Revenue forecasts, growth rates and CAGR up to 2028
3.Industry Analysis
4.Competitive Analysis
5. Key geographic growth data
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