Global Fully Dissolvable Frac Plugs
Market Report
2024
Fully Dissolvable Frac Plugs market size was $254.11 million in 2024 and it is forecasted to reach $412.65 million by the end of 2030. Fully Dissolvable Frac Plugs Industry's Compound Annual Growth Rate will be 8.43% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Fully Dissolvable Frac Plugs market size was $254.11 million in 2024 and it is forecasted to reach $412.65 million by the end of 2030. Fully Dissolvable Frac Plugs Industry's Compound Annual Growth Rate will be 8.43% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 254.11 Million |
Global Fully Dissolvable Frac Plugs Market Sales Revenue 2030 | $ 412.65 Million |
Global Fully Dissolvable Frac Plugs Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.43% |
Europe Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 49.3 Million |
Europe Fully Dissolvable Frac Plugs Sales Revenue 2030 | $ 77.58 Million |
Asia Pacific Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 28.97 Million |
Asia Pacific Fully Dissolvable Frac Plugs Sales Revenue 2030 | $ 48.28 Million |
South America Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 24.5 Million |
South America Fully Dissolvable Frac Plugs Sales Revenue 2030 | $ 36.56 Million |
Middle East and Africa Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 46.6 Million |
Middle East and Africa Fully Dissolvable Frac Plugs Sales Revenue 2030 | $ 82.37 Million |
North America Fully Dissolvable Frac Plugs Market Sales Revenue 2024 | $ 104.74 Million |
North America Fully Dissolvable Frac Plugs Sales Revenue 2030 | $ 167.87 Million |
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What is Fully Dissolvable Frac Plugs?
Fully dissolvable frac plugs are a type of downhole equipment primarily used in hydraulic fracturing operations in the oil and gas industry. It is designed to temporarily separate a portion of the wellbore during the fracturing process and then completely collapse, eliminating the need for mechanical recovery. Fully dissolvable frac plugs are made from materials that dissolve in wellbore fluids such as water and hydrocarbons. These materials are designed with controlled dissolution rates so that they can be dissolved and dispersed in a wellbore environment over a period of time.
Fully dissolvable frac plugs are deployed wellbore to isolate specific sections or stages during hydraulic fracturing. They form barriers between different zones, allowing continuous fracturing and effective reservoir stimulation. The dissolution rate of fully dissolvable frac plugs is an important consideration. Careful controls must be performed to ensure that the plug maintains its integrity during the fracturing operation and then dissolve at an appropriate rate. The dissolution rate can be adjusted based on factors such as downhole conditions, temperature, and fluid chemistry. Fully dissolvable frac plugs offer potential environmental advantages over conventional plugs by eliminating the need for mechanical retrieval, thereby reducing waste generation and environmental footprint. These are aligned with the industry's increasing focus on sustainable practices and minimizing environmental impact.
The rapid expansion of the oil and gas industry is a major driver of the growth of the fully dissolvable frac plug market. These plugs are becoming increasingly popular in the oil and gas industry due to their operational efficiency, cost-effectiveness, and environmental benefits. In addition, manufacturers focus on continuous research and development to improve the performance, reliability, and dissolution characteristics of these plugs, increasing their effectiveness in hydraulic fracturing operations.
The growth of the fully dissolvable frac plugs market is primarily driven by the increasing demand for hydraulic fracturing in the oil and gas industry. The emergence of the shale revolution, particularly in the United States has significantly increased the demand for hydraulic fracturing. Fracking is the key to unlocking large U.S. shale resources. Hydraulic fracturing is a drilling method used to extract petroleum (oil) or natural gas from deep in the earth. Modern hydraulic fracturing has been used commercially for decades, the technological idea behind surging U.S. oil and natural gas output. For example, according to the U.S. Energy Department, up to 95% of new wells drilled today are hydraulically fractured, which accounts for two-thirds of total U.S. marketed natural gas production and about half of U.S. crude oil production.
In addition, the global demand for energy continues to rise which is driven by population growth and increased industrialization. The increasing focus on cleaner energy sources and efforts to reduce greenhouse gas emissions have led to a greater focus on natural gas. Natural gas extracted through fracking has lower carbon emissions compared to other fossil fuels such as coal. As a result, the demand for natural gas has risen which simultaneously needs hydraulic fracturing. Fracking is used to extract natural gas from the Marcellus shale formation in the northern Appalachian Basin. The United States is leading the world in natural gas and oil production. For example, around 1.7 million U.S. wells have been completed using the fracking process, producing more than 7 billion barrels of oil and 600 trillion cubic feet of natural gas.
The use of dissolvable frac plugs offers several benefits in the hydraulic fracturing process. They eliminate the need for post-fracture intervention, such as milling or
retrieving traditional plugs, which can be time-consuming and costly. The demand for hydraulic fracturing extends beyond the United States. Countries around the world including Canada, China, Argentina, and Australia, are exploring and developing their shale resources. This global exploration and production activity contributes to the demand for hydraulic fracturing technologies and services. These factors influence the demand for the fully dissolvable frac plugs market.
The industry's growing focus on environmental sustainability and regulatory compliance is likely to drive the adoption of dissolvable frac plugs. These plugs offer advantages such as reduced waste generation, minimized environmental impact, and improved wellbore integrity without the need for retrieval operations. As environmental regulations change, dissolvable frac plugs are expected to play a significant role in meeting environmental standards. Dissolvable frac plugs are considered more environmentally friendly than traditional plug systems. Some companies are developing frac plugs made from biodegradable materials, which can break down naturally over time, reducing the need for costly retrieval operations and minimizing environmental impact.
Further, dissolvable plugs have the ability to reduce carbon emission intensity in a way that can be applied on a per-well basis. A recently commissioned environmental impact study by Environmental Resources Management reported that there is a significant and immediate reduction in greenhouse gas emissions when using a fully dissolvable frac plug. For example, dissolvable reduce carbon footprint by 18 % or about 13.3 metric tons of CO2e. Dissolvable plugs that can avoid intervention reduce carbon footprint by 91%, or roughly 67.3 metric tons of CO2e, over composites.
Regulatory compliance and environmental friendliness are important considerations in the oil and gas industry, particularly when it comes to hydraulic fracturing operations. EPA’s Office of Enforcement and Compliance Assurance (OECA) addresses monitoring and compliance during oil and gas development by working with EPA regional offices. By improving site emissions, dissolvable plugs contribute to regulatory compliance. They also increase the rate of return, as eliminating coiled tubing can reduce associated time, safety risks, and service costs. All these factors are influencing the growth of the fully dissolvable frac plugs market during the forecast period.
The COVID-19 impact on the fully dissolvable frac plugs market was affected negatively on account of the disruptions in global supply chains, a significant decline in hydraulic fracturing operations due to the economic downturn, increased raw material pricing, and cost pressure. The pandemic led to disruptions in manufacturing operations, supply chains, and logistics, affecting the production and distribution of fully dissolvable frac plugs. Lockdown safety measures, travel restrictions, and reduced workforce capacity have caused delays and shortages in the availability of these plugs.
The oil and gas industry experienced a significant decline in fracturing activities due to the economic downturn caused by the pandemic. Many exploration and production companies reduced their capital expenditure and cancelled fracturing projects. The reduced fracturing operations activities directly impacted the demand for fully dissolvable frac plugs, as they are primarily used in hydraulic fracturing operations.
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NOV is a US-based company engaged in manufacturing of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. NOV operate under three segments: Wellbore Technologies, Completion & Production Solutions, and RigTechnologies.
Halliburton is the United States-based provider of energy and engineering and construction services, as well as manufactures products for the energy industry. Halliburton operates through two segments including Completion and Production, and Drilling and Evaluation.
The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems. Its production solution provides coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services, and others. This segment also offers electrical submersible pumps and artificial lift services.
The Drilling and Evaluation segment offers to drill fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services. This segment also offers cloud-based digital services and artificial intelligence solutions.
Top Companies Market Share in Fully Dissolvable Frac Plugs Industry: (In no particular order of Rank)
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Global Fully Dissolvable Frac Plugs Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Fully Dissolvable Frac Plugs Industry growth. Fully Dissolvable Frac Plugs market has been segmented with the help of its Type, Application , and others. Fully Dissolvable Frac Plugs market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The small caliber fully dissolvable frac plugs are expected to grow at a CAGR of 7.39% during the forecast period, 2023- 2030. Small caliber fully dissolvable frac plugs are used in the oil and gas industry for well-completion operations, particularly in hydraulic fracturing procedures. Furthermore, small caliber plugs require less fluid to dissolve them, which increases the demand for these plugs. This may result in the use of fluid more effectively during block removal, lowering possible expenses and having a less negative effect on the environment. Small caliber plugs make it possible to use fracturing fluids more precisely and under control due to their small diameters and size. These are specially used where minimizing wellbore and required faster clean up. They give manufacturers and operators more flexibility when planning and carrying out hydraulic fracturing operations. Additionally, these plugs reduce the possibility of extreme pressure differentials and related problems, improving wellbore integrity and lowering the risk of formation damage.
Based on the type, the large caliber fully dissolvable frac plugs segment accounted for a major revenue market share of 79.25 % in 2022 and is expected to grow at the highest CAGR of 8.69% during the forecast period. Large-caliber plugs are commonly used when high pumping rates which plays a role in hydraulic fracturing operations. They are capable of handling the huge quantity of fracturing fluids being pumped into the well because of their larger size, which also increases the fluid flow capacity. These plugs are also better equipped to withstand the enormous pressures created by fracturing procedures that increase the demand for these plugs. These plugs can also offer greater sealing and isolation in wells with complex geometries or irregular wellbore layouts. Large caliber plugs also enable the development of longer and wider cracks in the reservoir. They can serve as more effective building positions for fracture propagation due to their bigger size, which leads to longer fractures and better reservoir stimulation.
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Based on application, the horizontal well segment accounted for a major revenue market share of 70.32% in 2022 and is expected to grow at a considerable CAGR of 8.64% during the forecast period. Horizontal well completions commonly use fully dissolvable frac plugs to speed up hydraulic fracturing and achieve efficient reservoir stimulation. In addition to this, fully dissolvable frac plugs can be utilized in horizontal wells to separate various zones or parts of the wellbore at predetermined intervals. During hydraulic fracturing, these plugs produce temporary barriers that block fluid communication between adjacent zones. Furthermore, the use of fully dissolvable frac plugs in horizontal wells avoids the necessity for drill-out or other post-fracturing intervention procedures. This minimizes non-productive time and reduces equipment requirements that drive the demand for fully dissolvable frac plugs in horizontal wells.
The vertical well segment accounted for the revenue market share of 29.68% in 2022 and is expected to grow at a CAGR of 7.90% during the forecast period. Fully dissolvable frac plugs are used in vertical wells for stage fracturing, similar to horizontal wells. In order to isolate various parts of the wellbore and enable sequential stimulation of the reservoir, the plugs are placed at predefined intervals along the wellbore. Furthermore, fully dissolvable frac plugs eliminate the need for plug retrieval operations in vertical wells. As a result, the time and money required for wellbore cleanup procedures after plugging cutting or drill-out are greatly reduced. Additionally, during hydraulic fracturing operations, fully dissolvable frac plugs are placed in vertical wells to isolate various zones or parts of the reservoir. In order to ensure efficient stimulation, they temporarily construct barriers that block fluid flow between the targeted zones.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Fully Dissolvable Frac Plugs market report 2024 Edition by contacting our team.
North America accounted for a major revenue market share of 41.40 % in 2022 and is expected to grow at a considerable CAGR of 8.19 % during the forecast period. In North America, the U.S. production of oil and natural gas has grown quickly due to technological advancements in the hydraulic fracturing process. The United States has seen a tremendous drilling revolution in recent years throughout North America. There are enormous quantities of gas and oil from shale formations that have been made accessible by the development of improved drilling techniques like hydraulic fracturing. The installation of several oil and gas wells throughout the area as well as an increase in drilling activity drives the demand for fully dissolvable frac plugs. These plugs enable effective zonal isolation and sequential fracturing in horizontal wells, optimizing reservoir stimulation and maximizing production from these challenging formations.
The current report Scope analyzes Fully Dissolvable Frac Plugs Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Europe Fully Dissolvable Frac Plugs market size was $49.30 million in 2024 and it is forecasted to reach $77.58 Million by 2030.
Europe accounted for the second largest revenue market share of 19.60% in 2022 and is expected to grow at a considerable CAGR of 7.86% during the forecast period. In Europe, the dissolvable frac plug market is gaining traction due to the vast expansion of the oil and gas industry in several countries such as Russia, Germany, Netherlands, Norway, and the United Kingdom. With the emergence of new methods for extracting and exploring oil and gas fields, the demand for fully dissolvable frac plugs is increasing in this region. Furthermore, in technological developments and creative solutions, European countries are pioneer in it. Fully dissolvable frac plugs represent a cutting-edge innovation that boosts operational effectiveness and reduces the need for additional intervention, improving the overall effectiveness of hydraulic fracturing operations. Therefore, the above-mentioned factors are expected to further surge the fully dissolvable frac plug market growth during the forecast period.
The Asia Pacific accounted for a revenue market share of 11.30% in 2022 and is expected to grow at a considerable CAGR of 8.90% during the forecast period. The Asia Pacific region has significant potential for the use of fully dissolvable frac plugs in hydraulic fracturing operations. This is attributed to the expansion of the oil and gas industry, which is dominated by nations like China, India, and Australia. Opportunities for the adoption of dissolvable frac plugs are provided by the rising exploration and production operations in these countries. Additionally, continues in this region are focusing on environmental sustainability and reducing the negative effects of oil and gas operations on the environment. In this aspect, fully dissolvable frac plugs can be helpful because they eliminate the requirement for plug retrieval, minimizing waste and potential environmental risks.
South America Fully Dissolvable Frac Plugs market size was $24.50 million in 2024 and it is forecasted to reach $36.56 million by the end of 2030.
Latin America accounted for the revenue market share of 9.90% in 2022 and is expected to grow at a considerable CAGR of 6.92% during the forecast period. Latin America has witnessed significant demand for a fully dissolvable frac plug market. This is attributed to advancements in technology in various countries such as Brazil, Argentina, Colombia, and Venezuela which have increased the capacity of oil and gas production. The fully dissolvable frac plugs are an innovative technological solution that speeds up well completion and lowers operating expenses. These promote the use of fully dissolvable frac plugs as a more effective and sustainable well-completion technique
Furthermore, in order to support growing production, Latin American countries are investing in the infrastructure for the production of oil and gas. This includes the construction of new wells, pipelines, and processing facilities. Frac plugs play a crucial role in well-stimulation and completion operations which increases the demand for the fully dissolvable frac plug market.
Middle East and Africa Fully Dissolvable Frac Plugs market size was $46.60 million in 2024 and it is forecasted to reach $82.37 million by the end of 2030.
Middle East and Africa are growing at the fastest CAGR of 9.98 % during the forecast period. In Middle & East Africa, countries including Saudi Arabia, the UAE, Iraq, and Nigeria have significant production of oil and gas which may further drive the demand for the fully dissolvable frac plug. In addition, the large presence of key market players in oil and gas companies such as SAUDI ARAMCO, AlMansoori Specialized Engineering, Qatar Gas Transport Company, GTE Petrochem, and others are expected to proliferate the demand for fully dissolvable frac plugs in this region.
As oil and gas exploration activities in the Middle East and Africa grow, manufacturers are looking for technology that might increase operational efficiency and cost-effectiveness. Companies may reduce their well-completion operations and improve their overall exploration activities by implementing fully dissolvable frac plugs. Fully dissolvable frac plugs' market expansion may be influenced by the players' willingness for the adoption of new technologies that contribute to the potential growth and adoption of dissolvable frac plugs in the region.
North America Fully Dissolvable Frac Plugs market size was $104.74 million in 2024 and it is forecasted to reach $167.87 million by the end of 2030.
North America accounted for a major revenue market share of 41.40 % in 2022 and is expected to grow at a considerable CAGR of 8.19 % during the forecast period. In North America, the U.S. production of oil and natural gas has grown quickly due to technological advancements in the hydraulic fracturing process. The United States has seen a tremendous drilling revolution in recent years throughout North America. There are enormous quantities of gas and oil from shale formations that have been made accessible by the development of improved drilling techniques like hydraulic fracturing. The installation of several oil and gas wells throughout the area as well as an increase in drilling activity drives the demand for fully dissolvable frac plugs. These plugs enable effective zonal isolation and sequential fracturing in horizontal wells, optimizing reservoir stimulation and maximizing production from these challenging formations.
Senior Research Analyst at Cognitive Market Research
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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Small Caliber Fully Dissolvable Frac Plugs, Large Caliber Fully Dissolvable Frac Plugs |
Application | Horizontal Well, Vertical Well |
List of Competitors | NOV Inc., Halliburton, Schlumberger, Kureha Corporation, Nine energy service (Magnum Oil Tools), Others |
This chapter will help you gain GLOBAL Market Analysis of Fully Dissolvable Frac Plugs. Further deep in this chapter, you will be able to review Global Fully Dissolvable Frac Plugs Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Fully Dissolvable Frac Plugs Market Trends North America Fully Dissolvable Frac Plugs Technological Road Map North America Fully Dissolvable Frac Plugs Market Drivers North America Fully Dissolvable Frac Plugs Market Restraints North America Fully Dissolvable Frac Plugs Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Fully Dissolvable Frac Plugs market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Small Caliber Fully Dissolvable Frac Plugs have a significant impact on Fully Dissolvable Frac Plugs market? |
What are the key factors affecting the Small Caliber Fully Dissolvable Frac Plugs and Large Caliber Fully Dissolvable Frac Plugs of Fully Dissolvable Frac Plugs Market? |
What is the CAGR/Growth Rate of Horizontal Well during the forecast period? |
By type, which segment accounted for largest share of the global Fully Dissolvable Frac Plugs Market? |
Which region is expected to dominate the global Fully Dissolvable Frac Plugs Market within the forecast period? |
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