Growth of Frac Services Market to be Impacted by Adoption of Supercritical Carbon Dioxide in Fracking | Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2019--
The report, global frac services market has been added to Technavio’s catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on application and geography for the forecast period 2019-2023.
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Technavio has announced its latest market research report titled global frac services market 2019-2023. (Graphic: Business Wire)
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This report on the frac services market includes:
Frac services market analysis and forecast 2019-2023: Features
Frac Services Market 2019-2023: Competitive Landscape
Frac Services Market 2019-2023: Geographic Landscape
Frac Services Market 2019-2023: Application
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Rising investments in shale oil and gas will drive the frac services market
Shale oil and gas production has increased, particularly in the US, over the last decade and large investments are being redirected toward adopting the hydraulic fracturing process for unconventional oil and gas production. Shale is a low permeability sedimentary rock formation, which contains oil and gas trapped inside it. The hydraulic fracturing process is used to harness oil and gas from shale rocks. Pressure is applied on the rock formations by using a combination of water, sand, detergents, and other stimulation fluids to fracture the rock and permit the oil and gas to rise to the surface, where it is collected for processing. The US is the largest producer of shale oil and gas in the world.
Adoption of supercritical carbon dioxide in fracking – An emerging trend in the frac services market
The adoption of supercritical carbon dioxide in fracking is one of the major trends being witnessed in the global frac services market. Supercritical CO2 has been introduced as a replacement for water in the entire fracking process. One of the major advantages offered by supercritical CO2 is reduced dependency on water for the operation. In addition, CO2 can be easily captured and reused for the process, and it is more efficient in fracturing the rock. This helps in making the whole process more efficient and it also helps conserve water.
Other Key Topics Covered in the Report are:
DRIVERS AND CHALLENGES
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SOURCE: Technavio Research
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PUB: 11/20/2019 05:00 PM/DISC: 11/20/2019 05:00 PM