The latest research study “Stimulation Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global stimulation materials market reached a value of US$ 48.1 Billion in 2021. Looking forward, IMARC Group expects the market is anticipated to reach a value of US$ 92.1 Billion by 2027, expanding at a CAGR of 11.35% during 2022-2027.
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Stimulation materials generally comprise of proppants, including coated sand, raw frac, clay-based ceramic, sintered bauxite, etc., that are used in oil and gas wells to inject microbes and remove deposits of heavy components, such as wax and asphaltene. Presently, leading manufacturers are introducing ultra-lightweight proppants that minimize injected fluids, frac height, and the need for wellbore cleanouts. In addition to this, they are also providing standard and customized chemical solutions for enhancing the stimulation process. These solutions include advanced integrated fluid systems, such as breakers, buffers, clay control, crosslinkers, surfactants, biocides, friction reducers, scale inhibitors, gelling systems, etc.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Stimulation Materials Market Trends and Drivers:
The rising utilization of crude oil in order to fulfill manufacturing needs across several industries, such as textile, polymers, chemical, plastic, construction, etc., is primarily driving the stimulation materials market.
Additionally, the implementation of various stringent regulations by government bodies to minimize the adverse effects of hydraulic fracking is augmenting the adoption of green materials, which is further catalyzing the market growth. Besides this, numerous advancements in hydraulic fracturing technology, including horizontal drilling, high-volume, multistage, etc., along with the development of shale resources, are propelling the demand for new stimulation materials to improve drilling efficiencies.
Moreover, the introduction of product variants that provide thermal stability as well as chemical resistance and prevent proppant flow back in high-temperature and closure stress environment during the fracturing of deep gas and oil wells is anticipated to fuel the stimulation materials market over the forecasted period.
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Global Stimulation Materials Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Stimulation Materials Companies:
Akzo Nobel N.V., Baker Hughes Company, BASF SE, Carbo Ceramics Inc., Chevron Phillips Chemical Company LLC, DuPont de Nemours Inc., Halliburton Company, Hexion Inc., Saint-Gobain S.A, Schlumberger Limited and Solvay S.A.
The report has segmented the market on the basis of region, type, technology and application.
Breakup by Type:
- Frac Sand
- Resin Coated
- Gelling Agents
- Friction Reducers
- Crosslinking Agents
- Corrosion and Scale Inhibitors
Breakup by Technology:
- Hydraulic Fracturing
- Multistage Fracturing
- Hydrochloric Acid Wash
- Matrix Acid Stimulation
- Acid Fracturing
Breakup by Application:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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