Asia Pacific Fracking Fluids And Chemicals Market Forecast 2017-2025KEY INSIGHTS
The Asia-Pacific fracking fluid market is expected to exhibit the fastest growth over the forecast period of 2017-2025 by growing at the highest CAGR of 17.24%. Consequently, the market worth is also set to increase from $1986 million in 2016 and reach $8197 million by 2025.
The import of coal, natural gas, and oil in the Asia-Pacific region has seen an overall rise of up to 214%, 164%, and 62% respectively in the past few years. Similarly, the energy consumption and production have seen a significant rise of 54%and 47% respectively since 2015. All of this can be attributed to the increasing consumption of natural gas as a transportation fuel and the resurgence of unconventional resources as an alternative. The high cost for fracking systems and the rise of clean energy owing to the discovery of shale reserves might prove challenging for the market in the near future.
The prominent companies in the Asia-Pacific region are The Dow Chemical Company Inc, Anadarko Petroleum Corporation, Dominion Energy, Inc, Eog Resources Inc, Pioneer Natural Resources, Global Am-Tx Inc, FTS International Inc., Marathon Oil Corporation, Nabors Industries Inc, Exxon Mobil Corporation and Reagent Chemical And Research, Inc.