Fracking Chemicals and Fluids Global Market Report 2024

The fracking chemicals and fluids market size has grown rapidly in recent years. It will grow from $42.93 billion in 2023 to $47.79 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historical period can be attributed to increased shale exploration, the expansion of unconventional oil and gas extraction, a rise in global energy demand, favorable government policies, and fluctuating oil and gas prices.

The fracking chemicals and fluids market size is expected to see strong growth in the next few years. It will grow to $69.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period can be attributed to the expansion of hydraulic fracturing activities, a growing demand for energy resources, increased exploration of unconventional reserves, regulatory support for shale gas development, and geopolitical factors influencing energy markets. Key trends expected in the forecast period include the development of sustainable fracking fluid formulations, the recycling and reuse of fracking fluids, the creation of environmentally friendly fracking chemicals, an increased focus on waterless fracking technologies, and the adoption of digital technologies for reservoir monitoring.

The anticipated increase in oilfield production is poised to drive the growth of the fracking chemicals and fluids market. Oilfield production involves the extraction of crude oil and natural gas from underground reservoirs for subsequent processing, refinement, and distribution. Hydraulic fracturing relies significantly on fracking chemicals and fluids to extract oil and natural gas from underground reservoirs. According to the International Energy Agency, global oil demand is expected to reach 105.7 million barrels per day (mb/d) by 2028, reflecting a cumulative 6% increase from 2022. The Energy Information Administration (EIA) reported an increase in oilfield production from 11.2 million barrels per day (b/d) in 2020 to 11.6 million barrels per day (b/d) by 2021, highlighting the driving force of rising oilfield production on the fracking chemicals and fluids market.

The growth of the fracking chemicals and fluids market is anticipated to be propelled by the increasing investment in infrastructure. Infrastructure refers to the essential physical and organizational structures and facilities required for the functioning of a society, economy, or system. Fracking chemicals and fluids find application in infrastructure development for resource extraction and geological operations. In Canada, for instance, capital expenditures on infrastructure witnessed a 5.6% increase, reaching a total of $108.1 billion in 2021, marking an investment trend that is driving the fracking chemicals and fluids market.

A noteworthy trend gaining popularity in the fracking chemicals and fluids market is product innovation. Major companies operating in this market are embracing new and innovative products to maintain their competitive positions. SPM Oil & Gas Inc., a US-based provider of engineered mechanical and rotating equipment, introduced the SPM Simplified Frac Iron System in May 2022. This system is uniquely designed to enhance the hydraulic fracturing process by streamlining conventional ground iron processes, reducing operational inefficiencies, and replacing multiple tie-in lines with a single large-bore inlet.

Leading companies in the fracking chemicals and fluids market are directing their focus towards developing next-generation hydraulic fracturing transmission systems with advanced prognostics. One such prognostic method is fluid life prognostics, which involves predicting the remaining usable life of a fluid based on various analyses and monitoring techniques. Allison Transmission, a US-based designer and manufacturer of vehicle propulsion solutions, launched the Allison FracTran hydraulic fracturing transmission in May 2023. The FracTran system features advanced diagnostics for filter and fluid life, along with a transmission-mounted control module, torsional measurement diagnostics, and a telematics gateway, addressing the unique challenges of shale oil and gas extraction and providing a competitive edge in the market.

In 2021, US Shale Solutions LLC acquired J4 Fluid Services Inc. for US$27 million, aiming to strengthen and expand its service offerings portfolio. J4 Fluid Services Inc. is a US-based provider of specialized fluids and chemicals for drilling and fracking operations, underscoring the strategic moves within the fracking chemicals and fluids market.

Major companies operating in the fracking chemicals and fluids market report are BASF SE, The Dow Chemical Company, Schlumberger Ltd., Baker Hughes Ltd., Halliburton Company, Ecolab Inc., DuPont de Nemours Inc., Akzo Nobel N.V., Huntsman Corporation, Albemarle Corporation, Clariant International Ltd., Lubrizol Corporation, Weatherford International plc, Kemira Oyj, Stepan Company, Croda International plc, Ashland Global Holdings Inc., Innospec Inc., ProPetro Holding Corp., Calfrac Well Services Ltd., SNF Group, Nine Energy Service Inc., TETRA Technologies Inc., FTS International Inc., Carbo Ceramics Inc., Chevron Phillips Chemical Company LLC, ProChemTech International Inc., Pioneer Oil Companies Inc., Keane Group Inc., C&J Energy Services Inc.

North America was the largest region in the fracking chemicals and fluids market in 2023. The regions covered in the fracking chemicals and fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fracking chemicals and fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of fracking chemicals and fluids products include water-based fluids, oil-based fluids, synthetic-based fluids, and foam-based fluids. Water-based fluids consist mainly of water and may incorporate chemical additives. These fluids play various roles in different wells, such as horizontal wells, vertical wells, and directional wells, serving functions such as friction reduction, biocide application, clay control, gelling, cross-linking, breaking, buffering, surfactancy, and others.

The fracking chemicals and fluids market research report is one of a series of new reports that provides fracking chemicals and fluids market statistics, including fracking chemicals and fluids industry global market size, regional shares, competitors with a fracking chemicals and fluids market share, detailed fracking chemicals and fluids market segments, market trends and opportunities, and any further data you may need to thrive in the fracking chemicals and fluids industry. This fracking chemicals and fluids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fracking chemicals and fluids market consists of sales of surfactant, guar gum, biocides, breakers and glutaraldehyde. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.