Dissolvable Frac Plugs Market by Material Type (Magnesium Alloys & Poly Glycolic Acid), Well Type (Horizontal Well & Vertical Well), Sales Channel Type, & Region, Forecast, Competitive Analysis, & Growth Opportunity: 2019-2024
|出版日期||內容資訊||英文 172 Pages
|可溶性壓裂封塞 (坑井開採用封塞)的全球市場:預測、競爭分析、成長機會 Dissolvable Frac Plugs Market by Material Type (Magnesium Alloys & Poly Glycolic Acid), Well Type (Horizontal Well & Vertical Well), Sales Channel Type, & Region, Forecast, Competitive Analysis, & Growth Opportunity: 2019-2024|
|出版日期: 2019年06月21日||內容資訊: 英文 172 Pages||
本報告提供全球可溶性壓裂封塞 (坑井開採用封塞) 市場調查，市場及產品概要，供應鏈，產業生命週期，市場成長的各種影響因素分析，各產品、用途、地區/主要國家趨勢與市場規模的變化與預測，競爭環境與市場佔有率，主要企業簡介等資訊彙整。
Dissolvable Frac Plugs Market by Material Type (Magnesium Alloys and Poly Glycolic Acid), by Well Type (Horizontal Well and Vertical Well), by Sales Channel Type (Direct Sales and Distributor Sales), and by Region (Americas, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This report studies the current market trends including the shift from composite frac plugs, changing material dynamics, detailed competitive landscapes, and emerging trends in order to accurately forecast the dissolvable frac plugs market for the forecast period of 2019 to 2024 in terms of both value as well as units. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
Operators performing hydraulic fracturing are keen to adopt different technologies and products which can maximize their production and save their cost and time of fracturing. These requisites have led to the evolvement of dissolvable frac plugs in the fracturing industry. Elimination of the cost and mill-out time, easy cleaning of the debris with no bottom hole assembly issues, reduced well complexities, omitted coiled tubing from the operation, and reduced flow back challenges are the key benefits provided by dissolvable frac plugs.
Dissolvable frac plugs are new to the market and currently hold a diminutive share of the frac plugs market. Magnum Oil Tools (Now part of Nine Energy Service Inc.) was the first company to commercialize dissolvable frac plug in the year 2014. Since then, various leading suppliers of composite frac plugs, such as Haliburton, Baker Hughes, and Schlumberger, have also launched dissolvable frac plugs and are offering a unique product portfolio in this market. The attractiveness of the market has led to the entry of the leading oil & gas industry players, who were not even into composite frac plugs manufacturing. For instance, recently in Feb 2019, a US-based oil & gas multinational corporation, National Oilwell Varco (NOV), has launched VapR dissolvable frac plugs.
The market is likely to experience excellent double-digit growth over the next five years (2019-2024) to reach US$ 1,178.8 million in 2024. Increasing production of oil & gas, an expected recovery of wells and rigs counts in the coming years, increasing number of frac stages per well, increasing share of horizontal wells in the overall drilling activities where there is a requirement of more frac stages, increasing lateral lengths of the wells, and reduction in mill out time as well as drilling cost are some of the key factors driving the global dissolvable frac plugs market.
The market is segmented based on the material type as Mg (Magnesium) alloys and PGA (Polyglycolic Acid). Mg alloys are expected to remain the dominant segment of the global dissolvable frac plugs market during the forecast period and are also likely to exhibit faster growth during the same period. Mg alloys are the materials of choice for dissolvable frac plugs, owing to their properties, such as reliable dissolution rate at different temperature and pressure brine, high toughness, strength, and hardness. However, PGA is new to the industry and is not being currently of interest of all the major players.
Based on the well type, the market is segmented as horizontal well and vertical well. Horizontal well is expected to remain the more dominant segment of the market during the forecast period. Horizontal wells are majorly used for drilling extended reach and long lateral areas where vertical wells are not of worth. A large number of frac plugs and balls are deployed in horizontal wells, which leads to the optimum gas production from wells, whereas in case of vertical wells, very small amount of gas can be extracted as compared to horizontal wells.
Based on the sales channel type, the market is segmented as direct sales channel and distributor sales channel. The direct sales segment is expected to remain larger over the next five years. The market is in the nascent stage and is not being widely distributed at present. Hence, major companies are generally selling dissolvable frac plugs directly to customers.
In terms of regions, the Americas is projected to remain the largest dissolvable frac plugs market during the forecast period, in terms of both value and volume. The USA is the growth engine for the Americas' market where dissolvable frac plugs have been in the run in all the major shale basins such as Permian Basin, Eagle Ford, Williston basin, and South-Central Oklahoma Oil Province. Canada is another key market in the Americas, whereas Argentina is likely to be an emerging market with excellent growth expected in the near future.
The supply chain of this market comprises raw material suppliers, dissolvable frac plug manufacturers, distributors, and end users. Key dissolvable frac plug manufacturers are Baker Hughes, Haliburton Company, KLX Energy Services, Kureha Corporation, Innovex Downhole Solutions, Inc., Nine Energy Service, Inc., Schlumberger Limited, and Maverick Downhole Technologies Inc. Development of high-performance dissolvable frac plugs in order to overcome operators' or contractors' challenges along with ease of operations and formation of strategic alliances with operators are the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
The market is segmented into the following categories:
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