New York, NY -- (SBWIRE) -- 06/20/2018 -- Global hydraulic fracturing market was estimated at USD 26.88 billion in 2017 and is witnessing a positive growth of more than 11.5% during short term period of 2019-2021. This growth will likely show a deceleration post 2022 owing to an expected supply surge which is shaping up in the global market.

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IMF predicts, oil and gas exploration would likely suffer a blow during the period 2023-2027 owing to subtle policies being shaped up in oil and gas economic region and the current affair of geo politics. Another factor that would see decline in explorations in the future would be strong growth of the renewable sector. Competitive pricing and efficiency driven technologies in the renewable sector would likely see demand for oil and gas for electricity consumption decline significantly.

Hydraulic fracturing's largest market is North America owing to its vast resources of shale gas deposit. However, estimates and prediction indicates that this market might shift courses in the African and the South American countries to avoid high exploration cost, long lead times and low cost reserves which the mentioned regions are currently shaping their policies to offer.

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Technology Scenario (Revenue, USD Million; 2016–2025)
- Plug & Perf
- Sliding Sleeve

Drilling Fluid Scenario (Revenue, USD Million; 2016–2025)
Acid, Corrosion Inhibitor, Iron Control, Anti-Bacterial Agent, Scale Inhibitor, Friction Reducer, Surfactant, Gelling Agent, Others

By Chemicals (Revenue, USD Million; 2016–2025)
HCL, Ammonium Chloride, Sodium Chloride, Magnesium Peroxide, Tetra methyl Ammonium Chloride, Formic Acid, Others

By Material (Revenue, USD Million; 2016–2025)
Resin Coated, Frac Sand, Proppant, Ceramic, Water, Cement

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Drilling Fluid and Type
Friction reducer and Anti-Bacterial segments are likely going to show the highest growth rate in accordance to this market. The demand for this market is estimated by keeping proper leverage on the availability of the raw materials, its sourcing cost, exploration area & capacity and environmental norms.
Demand for drilling fluid differs from region to region owing to governmental and environmental norms as well as drilling area. Costs of procuring the raw materials have gone down as the supply vertical have shown improvement and an increase of 2.1% since 2017. Demand curve still exhibits a flat line although showing upward trajectory for the end of 2018 and the beginning of 2019.

Chemicals Insight
Specialty chemicals used in hydraulic fracturing process are witnessing a surge in demand from since June 2016 owing to increase in production activities post the disappointing year of 2015. Trading activities on Guar gum saw a significant increase in 2017 from the South East Asian market with significant exports to the U.S. and Canada. Europe export volume also showed optimistic recovery with respect to guar gum. Prices for this commodity witnessed a short fall decrease however, with plantation being aggravated in regions such as Pakistan and India, prices would be reach a stable position by the end of 2018.

Competitive Insights
This market has high entry barriers owing to large capital cost. This market is also severely regulated owing to environmental concerns with components used in drilling process. Mergers and acquisitions usually takes place to for technological synergies and not to increase regional presence. Baker Hughes and Halliburton merger was terminated owing to analyst speculation that this would create a higher price for oil field services, therefore indicating that this market is under constant scrutiny.

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