The global stimulation materials market is expected to record a CAGR of 6.75% for the period 2017-2022 (the forecast period).
The continuous development of unconventional energy resources stands as one of the major factors driving the growth of the global stimulation materials market. Growing energy needs and depleting oil & gas reserves have majorly contributed to the growth of the market.
Ban on fracking, and stringent environment regulations relating to the generation of toxic wastes during exploration and production activities are expected to hinder the market’s growth. The market has been segmented by material type into proppants and chemicals. By material type, proppants accounted for the highest market share in the global stimulation materials market in 2016. The oil & gas market has started recovering significantly after April 2016. The sharp drop in oil prices and the over production of crude oil in the Middle-east and shale oil & gas in North America has led to the downfall of the market. The global stimulation materials market is consolidated among the top players, with top five of them accounting for more than 50% of the market.
Source: Mordor Intelligence Analysis
Areas of Scope for Stimulation Materials Market
The global stimulation materials market is spread across Asia-Pacific, the Middle East & Africa, the Americas, and Europe. Among these, North America surfaced as the leading regional market in 2015 with USD XX billion in revenues. The presence of a large pool of manufacturers, as well as vendors of stimulation materials, in North America is the key factor behind the growth of this regional market.
Notable Development in the Market
FUSION technology created an immobile proppant pack that allowed water to pass through it at very high rates. This is a significant improvement that can lead to changes in the way the industry completes injection wells. Why purchase our Global Stimulation Materials Market Report?
Know about the competitive environment, the market’s major players and leading brands. A five-year forecast method is used in order to assess how the market is expected to develop. Know about the latest technological developments in the stimulation materials market. Know insights of the stimulation materials market. Identify the latest developments, market shares and strategies employed by the major market players, such as:
Halliburton Baker Hughes Schlumberger CoorsTek Inc.