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“World Well Stimulation Materials to 2017” by Freedonia Group is now available
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Unconventional resources development to fuel demand
Global demand for well stimulation
materials is expected to register doubledigit annual growth through 2017,
boosted by high oil prices, efforts to maximize productivity of wells both old
and new, and a shift in activity to shale formations and other unconventional
production environments, where well stimulation techniques are essential.
Unconventional resources
development has been a driving force behind growth in well stimulation material
demand over the past decade, boosting proppant sales and the fluids used to
deliver them into fractures. These fluids, comprised of gelling agents,
surfactants, specialty additives, and other chemicals, are generally formulated
for specific wells. While significant demand began with the Barnett play in
Texas, more recent growth in the US has been in liquid-rich formations. Demand
in these and similar regions is driven by high oil prices, which spurs drilling
activity; and by the depth and challenging geology of these wells, which
require greater amounts of proppants and chemicals to complete.
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North America to continue well stimulation dominance
The United States is the world’s
largest well stimulation market, accounting for about 80 percent of the global
total. More wells are drilled in the US than any other nation, and the US oil
and gas industry has been quicker to embrace horizontal drilling and hydraulic
fracturing technologies than anywhere else. Much of the rest of the market is
concentrated in Canada, Russia, and China.
Canada has begun to develop
resources in western shale formations, and in the portion of the Bakken that
reaches into Manitoba. China will seek to increase its supply of oil and gas
from both domestic and offshore sites as its energy requirements continue to
grow. Its shale reserves are among the world’s largest, but efforts to exploit
them are just underway, and coalbed methane also offers opportunities. Russia
continues to maximize production from an older oil and gas infrastructure in
the short term, and to develop its own shale and coalbed methane assets in the
longer run.
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Although much of the world’s oil
and gas is produced in Africa, the Middle East, Latin America, and Western
Europe, these locations account for a small, though rapidly-growing, share of
global well stimulation material demand. In Europe, producers are hoping to
sustain output levels in declining North Sea fields, and seeking opportunities
for onshore shale development. In Latin America, stimulation is used in
conventional gas fields as well as shale activity in Argentina. Growth is
expected as a result of shale development in a number of other countries, as
well as continued growth of oil production in Brazil and land-based natural gas
drilling in Mexico. Kasakhstan and other former Soviet republics are also
increasing their exploration activities.
Evolving stimulation technology to spur demand for proppants
& chemicals
Fluids and proppants are critical
to successful well stimulation operations and technology continues to evolve,
causing rapid changes in the market for stimulation materials. A more recent
preference for slickwater formulations in some shale and tight formations
boosted demand for friction reducers. As proppant volumes skyrocketed, demand
for sand proppants took market share from ceramics due to cost issues. In the
future, stimulation fluid formulations are expected to continue to improve,
driven by higher performance requirements and more stringent environmental
regulations.
Company Profiles
Profiles global industry players
including CARBO Ceramics, Fairmount Minerals, Mineração Curimbaba, Momentive
Specialty Chemicals and Saint-Gobain
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