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Global Frac Plugs Market Research Report - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2033)

Published Aug 13, 2025
Length 207 Pages
SKU # LOOK20514529

Description

Definition and Scope:

Frac plugs serve as check valves to provide wellbore zonal isolation in multistage stimulation treatments. They isolate the lower zone during stimulation but allow flow from below to aid in well cleanup once the stimulation is over.

The global Frac Plugs market size is projected to reach US$ 864.42 Million by 2028, from US$ 483.11 million in 2021, at a CAGR of 9.09% during 2022-2028. Compared to conventional frac plugs, the composite frac plug is light and has shorter pump downtime, and the dissolvable frac plugs eliminates cost and grinding time, facilitates debris removal without downhole assembly problems, reduces well complexity, eliminates coiled tubing in operation, and reduces backflow challenges. Coupled with the recovery of oil & gas exploration activities, the Frac Plugs market is expected to achieve rapid growth.

Segment by Type, the Frac Plugs can be split into Composite, Dissolvable, etc. Composite frac plug is specially designed and manufactured using composite materials such as epoxy materials, thermoplastic, and resins. Magnesium alloy and polyglycolic acid are the main raw materials for dissolvable frac plugs. In 2021, Dissolvable Plugs have taken the major market share, accounting for 63.96% of the total market share, compared to 36.04% for Composite Plugs. During the forecast period of 2021-2028, the market size of Dissolvable Plugs will continue to maintain rapid growth, achieving a CAGR of 10.05%, while Composite Plugs will also maintain a CAGR of 7.23%.

The COVID-19 pandemic has significantly impacted the oil & gas sector. Oil prices have been declining due to failed agreements. Demand for refined products is also declining due to industrial slowdowns and travel restrictions. Large oil & gas companies are reducing capital and operational expenditures. Moreover, the supply chain of raw material is highly disrupted. This is expected to hamper the demand for frac plugs.

According to the application, the Frac Plugs market can be divided into Horizontal Well and Vertical Well. In 2021, Horizontal Well will occupy the vast majority of the market share, reaching 91.46% of the total market share, while Vertical Well will account for 8.54%. It is expected that during the forecast period of 2022-2028, the market size of Horizontal Well will still grow rapidly at a CAGR of 9.73%, while the market size of Vertical Well has a high probability of recession at a CAGR of -1.42%.

Various Frac Plugs companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.

Based on region, the global composite frac plug market can be segmented into five regions: North America, Europe, Asia Pacific, South America, and Middle East & Africa.North America dominated the global composite frac plug market in 2021. The trend is projected to continue during the forecast period owing to the presence of ample unconventional reservoirs in the region. Furthermore, a large number of crude oil and natural gas oils are present in the region.

Major companies operating in the global composite frac plug market include Schlumberger, Halliburton, Nine Energy Service, WellBoss, CNPC, Sinopec, Forum Energy Technologies, NOV Inc., Pyramid Oil Tools, Weatherford, Innovex Inc., KLX Energy Services, Peak Completion Technologies, Inc., Expro.

This report offers a comprehensive analysis of the global Frac Plugs market, examining all key dimensions. It provides both a macro-level overview and micro-level market details, including market size, trends, competitive landscape, niche segments, growth drivers, and key challenges.

Report Framework and Key Highlights:

Market Dynamics: Identification of major market drivers, restraints, opportunities, and challenges.

Trend Analysis: Examination of ongoing and emerging trends impacting the market.

Competitive Landscape: Detailed profiles and market positioning of major players, including market share, operational status, product offerings, and strategic developments.

Strategic Analysis Tools: SWOT Analysis, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis

Market Segmentation: By type, application, region, and end-user industry.

Forecasting and Growth Projections: In-depth revenue forecasts and CAGR analysis through 2033.

This report equips readers with critical insights to navigate competitive dynamics and develop effective strategies. Whether assessing a new market entry or refining existing strategies, the report serves as a valuable tool for:

Industry players

Investors

Researchers

Consultants

Business strategists

And all stakeholders with an interest or investment in the Frac Plugs market.

Global Frac Plugs Market: Segmentation Analysis and Strategic Insights

This section of the report provides an in-depth segmentation analysis of the global Frac Plugs market. The market is segmented based on region (country), manufacturer, product type, and application. Segmentation enables a more precise understanding of market dynamics and facilitates targeted strategies across product development, marketing, and sales.

By breaking the market into meaningful subsets, stakeholders can better tailor their offerings to the specific needs of each segment—enhancing competitiveness and improving return on investment.

Global Frac Plugs Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Companies Profiled

Schlumberger

Halliburton

Nine Energy Service

WellBoss

CNPC

Sinopec

Forum Energy Technologies

NOV Inc.

Pyramid Oil Tools

Weatherford

Innovex Inc.

KLX Energy Services

Peak Completion Technologies, Inc.

Expro

Market Segmentation by Type

Composite Plugs

Dissolvable Plugs

Market Segmentation by Application

Horizontal Well

Vertical Well

Geographic Segmentation

North America: United States, Canada, Mexico

Europe: Germany, France, Italy, U.K., Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium, Russia.

Asia-Pacific: China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Philippines, Singapore, Thailand

South America: Brazil, Argentina, Colombia.

Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates, Egypt, Nigeria, South Africa, Rest of MEA

Report Framework and Chapter Summary

Chapter 1: Report Scope and Market Definition

This chapter outlines the statistical boundaries and scope of the report. It defines the segmentation standards used throughout the study, including criteria for dividing the market by region, product type, application, and other relevant dimensions. It establishes the foundational definitions and classifications that guide the rest of the analysis.

Chapter 2: Executive Summary

This chapter presents a concise summary of the market’s current status and future outlook across different segments—by geography, product type, and application. It includes key metrics such as market size, growth trends, and development potential for each segment. The chapter offers a high-level overview of the Frac Plugs Market, highlighting its evolution over the short, medium, and long term.

Chapter 3: Market Dynamics and Policy Environment

This chapter explores the latest developments in the market, identifying key growth drivers, restraints, challenges, and risks faced by industry participants. It also includes an analysis of the policy and regulatory landscape affecting the market, providing insight into how external factors may shape future performance.

Chapter 4: Competitive Landscape

This chapter provides a detailed assessment of the market's competitive environment. It covers market share, production capacity, output, pricing trends, and strategic developments such as mergers, acquisitions, and expansion plans of leading players. This analysis offers a comprehensive view of the positioning and performance of top competitors.

Chapters 5–10: Regional Market Analysis

These chapters offer in-depth, quantitative evaluations of market size and growth potential across major regions and countries. Each chapter assesses regional consumption patterns, market dynamics, development prospects, and available capacity. The analysis helps readers understand geographical differences and opportunities in global markets.

Chapter 11: Market Segmentation by Product Type

This chapter examines the market based on product type, analyzing the size, growth trends, and potential of each segment. It helps stakeholders identify underexplored or high-potential product categories—often referred to as “blue ocean” opportunities.

Chapter 12: Market Segmentation by Application

This chapter analyzes the market based on application fields, providing insights into the scale and future development of each application segment. It supports readers in identifying high-growth areas across downstream markets.

Chapter 13: Company Profiles

This chapter presents comprehensive profiles of leading companies operating in the market. For each company, it details sales revenue, volume, pricing, gross profit margin, market share, product offerings, and recent strategic developments. This section offers valuable insight into corporate performance and strategy.

Chapter 14: Industry Chain and Value Chain Analysis

This chapter explores the full industry chain, from upstream raw material suppliers to downstream application sectors. It includes a value chain analysis that highlights the interconnections and dependencies across various parts of the ecosystem.

Chapter 15: Key Findings and Conclusions

The final chapter summarizes the main takeaways from the report, presenting the core conclusions, strategic recommendations, and implications for stakeholders. It encapsulates the insights drawn from all previous chapters.

Table of Contents

207 Pages
1 Introduction to Research & Analysis Reports
1.1 Frac Plugs Market Definition
1.2 Frac Plugs Market Segments
1.2.1 Segment by Type
1.2.2 Segment by Application
2 Executive Summary
2.1 Global Frac Plugs Market Size
2.2 Market Segmentation – by Type
2.3 Market Segmentation – by Application
2.4 Market Segmentation – by Geography
3 Key Market Trends, Opportunity, Drivers and Restraints
3.1 Key Takeway
3.2 Market Opportunities & Trends
3.3 Market Drivers
3.4 Market Restraints
3.5 Market Major Factor Assessment
4 Global Frac Plugs Market Competitive Landscape
4.1 Global Frac Plugs Sales by Manufacturers (2020-2025)
4.2 Global Frac Plugs Revenue Market Share by Manufacturers (2020-2025)
4.3 Frac Plugs Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.4 New Entrant and Capacity Expansion Plans
4.5 Mergers & Acquisitions
5 Global Frac Plugs Market by Region
5.1 Global Frac Plugs Market Size by Region
5.1.1 Global Frac Plugs Market Size by Region
5.1.2 Global Frac Plugs Market Size Market Share by Region
5.2 Global Frac Plugs Sales by Region
5.2.1 Global Frac Plugs Sales by Region
5.2.2 Global Frac Plugs Sales Market Share by Region
6 North America Market Overview
6.1 North America Frac Plugs Market Size by Country
6.1.1 USA Market Overview
6.1.2 Canada Market Overview
6.1.3 Mexico Market Overview
6.2 North America Frac Plugs Market Size by Type
6.3 North America Frac Plugs Market Size by Application
6.4 Top Players in North America Frac Plugs Market
7 Europe Market Overview
7.1 Europe Frac Plugs Market Size by Country
7.1.1 Germany Market Overview
7.1.2 France Market Overview
7.1.3 U.K. Market Overview
7.1.4 Italy Market Overview
7.1.5 Spain Market Overview
7.1.6 Sweden Market Overview
7.1.7 Denmark Market Overview
7.1.8 Netherlands Market Overview
7.1.9 Switzerland Market Overview
7.1.10 Belgium Market Overview
7.1.11 Russia Market Overview
7.2 Europe Frac Plugs Market Size by Type
7.3 Europe Frac Plugs Market Size by Application
7.4 Top Players in Europe Frac Plugs Market
8 Asia-Pacific Market Overview
8.1 Asia-Pacific Frac Plugs Market Size by Country
8.1.1 China Market Overview
8.1.2 Japan Market Overview
8.1.3 South Korea Market Overview
8.1.4 India Market Overview
8.1.5 Australia Market Overview
8.1.6 Indonesia Market Overview
8.1.7 Malaysia Market Overview
8.1.8 Philippines Market Overview
8.1.9 Singapore Market Overview
8.1.10 Thailand Market Overview
8.1.11 Rest of APAC Market Overview
8.2 Asia-Pacific Frac Plugs Market Size by Type
8.3 Asia-Pacific Frac Plugs Market Size by Application
8.4 Top Players in Asia-Pacific Frac Plugs Market
9 South America Market Overview
9.1 South America Frac Plugs Market Size by Country
9.1.1 Brazil Market Overview
9.1.2 Argentina Market Overview
9.1.3 Columbia Market Overview
9.2 South America Frac Plugs Market Size by Type
9.3 South America Frac Plugs Market Size by Application
9.4 Top Players in South America Frac Plugs Market
10 Middle East and Africa Market Overview
10.1 Middle East and Africa Frac Plugs Market Size by Country
10.1.1 Saudi Arabia Market Overview
10.1.2 UAE Market Overview
10.1.3 Egypt Market Overview
10.1.4 Nigeria Market Overview
10.1.5 South Africa Market Overview
10.2 Middle East and Africa Frac Plugs Market Size by Type
10.3 Middle East and Africa Frac Plugs Market Size by Application
10.4 Top Players in Middle East and Africa Frac Plugs Market
11 Frac Plugs Market Segmentation by Type
11.1 Evaluation Matrix of Segment Market Development Potential (Type)
11.2 Global Frac Plugs Sales Market Share by Type (2020-2033)
11.3 Global Frac Plugs Market Size Market Share by Type (2020-2033)
11.4 Global Frac Plugs Price by Type (2020-2033)
12 Frac Plugs Market Segmentation by Application
12.1 Evaluation Matrix of Segment Market Development Potential (Application)
12.2 Global Frac Plugs Market Sales by Application (2020-2033)
12.3 Global Frac Plugs Market Size (M USD) by Application (2020-2033)
12.4 Global Frac Plugs Sales Growth Rate by Application (2020-2033)
13 Company Profiles
13.1 Schlumberger
13.1.1 Schlumberger Company Overview
13.1.2 Schlumberger Business Overview
13.1.3 Schlumberger Frac Plugs Major Product Offerings
13.1.4 Schlumberger Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.1.5 Key News
13.2 Halliburton
13.2.1 Halliburton Company Overview
13.2.2 Halliburton Business Overview
13.2.3 Halliburton Frac Plugs Major Product Offerings
13.2.4 Halliburton Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.2.5 Key News
13.3 Nine Energy Service
13.3.1 Nine Energy Service Company Overview
13.3.2 Nine Energy Service Business Overview
13.3.3 Nine Energy Service Frac Plugs Major Product Offerings
13.3.4 Nine Energy Service Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.3.5 Key News
13.4 WellBoss
13.4.1 WellBoss Company Overview
13.4.2 WellBoss Business Overview
13.4.3 WellBoss Frac Plugs Major Product Offerings
13.4.4 WellBoss Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.4.5 Key News
13.5 CNPC
13.5.1 CNPC Company Overview
13.5.2 CNPC Business Overview
13.5.3 CNPC Frac Plugs Major Product Offerings
13.5.4 CNPC Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.5.5 Key News
13.6 Sinopec
13.6.1 Sinopec Company Overview
13.6.2 Sinopec Business Overview
13.6.3 Sinopec Frac Plugs Major Product Offerings
13.6.4 Sinopec Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.6.5 Key News
13.7 Forum Energy Technologies
13.7.1 Forum Energy Technologies Company Overview
13.7.2 Forum Energy Technologies Business Overview
13.7.3 Forum Energy Technologies Frac Plugs Major Product Offerings
13.7.4 Forum Energy Technologies Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.7.5 Key News
13.8 NOV Inc.
13.8.1 NOV Inc. Company Overview
13.8.2 NOV Inc. Business Overview
13.8.3 NOV Inc. Frac Plugs Major Product Offerings
13.8.4 NOV Inc. Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.8.5 Key News
13.9 Pyramid Oil Tools
13.9.1 Pyramid Oil Tools Company Overview
13.9.2 Pyramid Oil Tools Business Overview
13.9.3 Pyramid Oil Tools Frac Plugs Major Product Offerings
13.9.4 Pyramid Oil Tools Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.9.5 Key News
13.10 Weatherford
13.10.1 Weatherford Company Overview
13.10.2 Weatherford Business Overview
13.10.3 Weatherford Frac Plugs Major Product Offerings
13.10.4 Weatherford Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.10.5 Key News
13.11 Innovex Inc.
13.11.1 Innovex Inc. Company Overview
13.11.2 Innovex Inc. Business Overview
13.11.3 Innovex Inc. Frac Plugs Major Product Offerings
13.11.4 Innovex Inc. Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.11.5 Key News
13.12 KLX Energy Services
13.12.1 KLX Energy Services Company Overview
13.12.2 KLX Energy Services Business Overview
13.12.3 KLX Energy Services Frac Plugs Major Product Offerings
13.12.4 KLX Energy Services Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.12.5 Key News
13.13 Peak Completion Technologies, Inc.
13.13.1 Peak Completion Technologies, Inc. Company Overview
13.13.2 Peak Completion Technologies, Inc. Business Overview
13.13.3 Peak Completion Technologies, Inc. Frac Plugs Major Product Offerings
13.13.4 Peak Completion Technologies, Inc. Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.13.5 Key News
13.14 Expro
13.14.1 Expro Company Overview
13.14.2 Expro Business Overview
13.14.3 Expro Frac Plugs Major Product Offerings
13.14.4 Expro Frac Plugs Sales and Revenue fromFrac Plugs (2020-2025)
13.14.5 Key News
14 Key Market Trends, Opportunity, Drivers and Restraints
14.1 Key Takeway
14.2 Market Opportunities & Trends
14.3 Market Drivers
14.4 Market Restraints
14.5 Market Major Factor Assessment
14.6 Porter's Five Forces Analysis of Frac Plugs Market
14.7 PEST Analysis of Frac Plugs Market
15 Analysis of the Frac Plugs Industry Chain
15.1 Overview of the Industry Chain
15.2 Upstream Segment Analysis
15.3 Midstream Segment Analysis
15.3.1 Manufacturing, Processing or Conversion Process Analysis
15.3.2 Key Technology Analysis
15.4 Downstream Segment Analysis
15.4.1 Downstream Customer List and Contact Details
15.4.2 Customer Concerns or Preference Analysis
16 Conclusion
17 Appendix
17.1 Methodology
17.2 Research Process and Data Source
17.3 Disclaimer
17.4 Note
17.5 Examples of Clients
17.6 Disclaimer
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