(MENAFN- EIN Presswire) Stimulation Materials market Report
The global stimulation materials market size reached US$ 53.6 Billion in 2022. By 2028, it will reach US$ 101.9 Billion, growing at a CAGR of 11.2% (2023-2028).
SHERIDAN, WYOMING, USA, April 19, 2023 /einpresswire.com / -- Simulation materials are employed to enhance the flow of hydrocarbons in the oil and gas wells. In addition, they are used for injecting microbes and eliminating heavy component deposits, including wax and asphaltene. They consist of proppants such as coated clay-based ceramic, sand, raw frac, and sintered bauxite. They also include advanced incorporated fluid systems, such as clay control, crosslinkers, surfactants, biocides, buffers, breakers, gelling systems, friction reducers, and scale inhibitors. Nowadays, leading manufacturers are introducing stimulation materials with ultra-lightweight proppants that minimize injected fluids, frac height, and the need for wellbore cleanouts which is propelling the market growth.
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Stimulation Materials Market Trends and Drivers:
The market is primarily driven by the expanding oil and gas sector. In addition, the surging exploration activities across the globe for extracting natural gas is contributing to market growth. Moreover, governments of various countries are implementing stringent regulations to reduce the negative effects of hydraulic fracking, encouraging the adoption of green materials with less impact on the environment, representing another major growth-inducing factor.
Besides this, the widespread adoption of crude oil to fulfill production needs in several industries, such as polymers, chemicals, plastic, textile, and construction, is propelling the market growth. Furthermore, the introduction of products that provide thermal stability and chemical and crush resistance and extensive research and development (R&D) activities conducted by key players are also creating a favorable market outlook.
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Global Stimulation Materials Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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:
.Proppants
oFrac Sand
oResin Coated
oCeramic
.Chemical
oSurfactants
oGelling Agents
oFriction Reducers
oBreakers
oCrosslinking Agents
oCorrosion and Scale Inhibitors
oBiocides
oOthers
Breakup by Technology:
.Hydraulic Fracturing
oMultistage Fracturing
oRe-fracturing
.Acidization
oHydrochloric Acid Wash
oMatrix Acid Stimulation
oAcid Fracturing
Breakup by Application:
.Onshore
.Offshore
Breakup by Region:
.North America: (United States, Canada)
.Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
.Europe: (Germany, France, 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 (2017-2022)
.Market Outlook (2023-2028)
.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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