"Fracking Fluid & Chemicals Market by Chemical Function (Acid, Surfactant, Biocide, Gelling Agent, Crosslinker, Breaker, Scale & Corrosion Inhibitor, Clay & Iron Control, And Friction Reducer), by Fluid Type, & by Well Type - Global Forecasts to 2020", defines and segments the market with analysis and forecast of market size in terms of value and volume between 2015 and 2020.

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The global fracking fluid market is projected to register a CAGR of 10.1% between 2015 and 2020, to reach USD 32.4 Billion 2020.

The fracking fluid and chemicals are used for hydraulic fracturing after the completion of drilling of oil and gas reserves. The blend of fluids and chemicals is used to fracture the conventional or non-conventional formation of oil and gas reserve to stimulate the production of oil and gas well. The hydraulic fracturing has made it possible to efficiently extract oil and gas from the older oil and gas field with high production rate. Also, hydraulic fracturing can be used to extract oil and gas from the extreme geological formations which were not previously possible. The oil and gas recovery from shale in many parts of world are projecd to result in the growth of fracking fluids and chemicals. The fracking fluids market is estimated at USD 20.0 Billion in 2015 and is expected to reach USD 32.4 Billion by 2020, at a CAGR of 10.1% during the forecast period.

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North America is the global leader of the fracking fluids and chemical market and the trend is expected till 2020. The North American fracking fluids market is driven by the growth in fracking activities for oil & gas reserves. The U.S. is the dominant country with respect to country-wise split of the fracking fluids market in North America. This region gets a boost due to rise in the hydraulic fracturing of the shale oil & gas reserves. These activities consume huge quantities of fracking fluids due to which this market continues to grow.

China and Indonesia has significant shale gas reserves. However, the fracking activity in the region is currently low. The activities for development and extraction of oil and gas from Asian unconventional shale reserves are projected to increase during the forecast period resulting in the growth of fracking fluids and chemical market.

The decision regarding the type of fracking fluids to be used may also depend on cost, technical complexity based on the geological condition, and effect on the environment. The water-based fluid is the most common type of fracking fluids used due to its various applications and cost effectiveness. However, with increasing environmental concerns and damages to the ecosystem, gelled oil-based fluids are expected to witness an upward trend.

The fracking fluid and chemicals market is projected to be driven due to higher production rate, as fracturing can be used to recover oil and gas from older wells. The water contamination and other geological concerns need to be addressed so that the market can flourish globally.

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