Global Friction Reducers Market: Brief Overview
The global friction reducers market is primarily driven by its high use in hydraulic fracturing within the oil industry. Friction reducers are primarily used in the oil and gas industry and is also finding extensive use in the automobile industry, thus driving its demand. Another important factor which is pushing the demand for friction reducers is the fact that it can help reduce the wastage of freshwater. Friction reducers are thus environmentally friendly and supports the policies and regulations set by government and other environmental bodies. With increasing water scarcity, finding a solution which minimizes water wattage is becoming an important factor behind the high demand for friction reducers worldwide. All these factors are leading to a heightened use of friction reducers within the oil and gas industry.
Apart from the oil and gas industry, friction reducers are also used in the automobile industry. Friction reducers allow the extension of the life of automobile engines. The mechanical life of automobile engines is prolonged in the sense that the use of friction reducer reduces the metal to metal wear.
With increasing hydraulic fracturing of the shale oil and gas reserves it is expected that the demand for friction reducers will increase worldwide. All these factors are expected to ensure a positive growth of the global friction reducers market in the period from 2017 to 2025.
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Global Friction Reducers: Market Trends And Opportunities
Among the different types of friction reducers such as anionic synthetic polymers, non anionic synthetic polymers, cationic friction reducers, synthetic polymers, and Guar, there is a high demand for synthetic anionic polymers. This high demand is majorly on account of the use for hydraulic stimulation in shale gas, tight gas reservoir, and other tight formations. However, synthetic and ionic polymers are unsuitable in highly ionic systems as cations can significantly bring about a reduction in their efficiency. Since the cost of cationic friction reducers is considerably high, the conventional anionic type friction reducer is used increasingly and is in much demand.
Global Friction Reducers: Market Geographical Analysis
On the basis of geography, the global friction reducers market is segmented into Latin America, North America, the Middle East in Africa, Europe, and Asia Pacific. Among all these regions, North America is currently leading in the global friction reducers market. The advancements in horizontal drilling, availability of abundant water for fracking, hydraulic fracking, and mineral rights licensing are some of the important factors which have helped North America’s development of shale gas and oil reserves. This has subsequently benefited the North American friction reducers market. The main reason why friction reducers are being used extensively in the oilfield stimulation chemicals market is because they help in promoting laminar flow in pipe which decreases friction pressure during the pumping of low viscosity and slick water type fracture treatments.
While North America is leading in terms of value, Asia Pacific is also witnessing rapid growth in the friction reducers market. In addition to these two regions, the friction reducers market is also expected to do well in Latin America, Europe, and the Middle East and Africa. All these three regions are expected to witness a healthy expansion within the friction reducers market between 2017 and 2025.
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Global Friction Reducers Market: Companies Mentioned
Condat SA, FTS International Services LLC, Shrieve Chemical Company, BASF SE, Baker Hughes Inc., SNF Holding Company, and Di-Corp are some of the prominent companies operating in the global friction reducers industry.