“The Global Fracking Chemicals Market has seen various technological advancements in the past couple of years and is foreseen to turn out to be a lot further in the midst of the figure time allotment 2019-2026. The study presents a detailed assessment of the Fracking Chemicals showcase and contains historical and present growth factors. Additionally, the report comprises current growth factors, industry specialists opinions, convictions, chronicled data, and reinforced and industry affirmed advertise data.
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Global Fracking Chemicals Market is anticipated to reach over USD 65 billion by 2026 according to a new research published by Alexa Reports 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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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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Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data. Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data.