PUBLISHER: The Business Research Company | PRODUCT CODE: 1716956
PUBLISHER: The Business Research Company | PRODUCT CODE: 1716956
Dissolvable frac plugs are temporary devices used in hydraulic fracturing operations to isolate different sections of a well, facilitating efficient fracturing. Unlike traditional plugs that require mechanical removal, dissolvable plugs are crafted from materials such as magnesium alloys or polymers that degrade over time when exposed to downhole conditions such as temperature, pressure, or fluid chemistry. This feature eliminates the need for post-fracturing interventions, reducing both time and costs while enhancing well-completion efficiency.
The main types of dissolvable frac plugs include temporary frac plugs, permanent frac plugs, and drillable frac plugs. Temporary frac plugs are used to temporarily isolate sections of the well during hydraulic fracturing. They are made from various materials, including magnesium alloy, calcium carbonate, and polymers, and are suitable for different well types, such as horizontal, vertical, fractured, and unconventional wells. These plugs are available through different sales channels, including direct sales and distributor sales, and are used in various applications such as drilling, completion, and production.
The dissolvable frac plugs market research report is one of a series of new reports from The Business Research Company that provides dissolvable frac plugs market statistics, including dissolvable frac plugs industry global market size, regional shares, competitors with a dissolvable frac plugs market share, detailed dissolvable frac plugs market segments, market trends and opportunities, and any further data you may need to thrive in the dissolvable frac plugs industry. This dissolvable frac plugs market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The dissolvable frac plugs market size has grown strongly in recent years. It will grow from $3.15 billion in 2024 to $3.39 billion in 2025 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to a larger trend in the oil and gas sector, rising demand for unconventional oil and gas resources, increased adoption of multi-stage fracturing, an increase in the demand for energy across the globe, and a rise in population.
The dissolvable frac plugs market size is expected to see strong growth in the next few years. It will grow to $4.51 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing demand for unconventional oil and gas production, growing shale gas exploration, rising environmental concerns, expanding geographical footprint, and growing adoption of horizontal drilling. Major trends in the forecast period include technological advancements, deploying dissolvable frac plugs more effectively, manufacturing techniques and materials science continuing to progress, technological advancements and innovations, development of composite and biodegradable frac plugs.
The growth in oil and gas production is anticipated to drive the expansion of the dissolvable frac plugs market. This production involves extracting oil and natural gas from the earth for energy and industrial purposes. The increase in oil and gas production is largely attributed to the rising global energy demand, particularly from expanding industries and developing countries. Dissolvable frac plugs contribute to this growth by eliminating the need for post-fracturing plug removal, thereby saving time and reducing costs associated with hydraulic fracturing methods. For example, a report published by the Government of the United Kingdom in September 2023 revealed that total government revenues from UK oil and gas production reached £9 billion ($11.76 billion) for the financial year 2022 to 2023, a significant increase from £1.4 billion ($1.83 billion) in 2021 to 2022, marking a rise of £7.6 billion ($9.93 billion). This increase in oil and gas production is fueling the dissolvable frac plugs market.
Companies in the dissolvable frac plugs market are concentrating on developing advanced downhole completion tools to enhance wellbore integrity, operational efficiency, and environmental sustainability, as well as to improve hydraulic fracturing processes. Downhole completion tools are designed to finalize well construction and improve fluid control for more efficient oil and gas extraction. For instance, in December 2023, KLX Energy Services LLC, a US-based oilfield service provider, introduced the VISION Suite of tools, which includes downhole completion tools such as SpectrA PDC, OraclE-SRT, and PhantM dissolvable frac plugs. The PhantM dissolvable frac plugs are designed to dissolve after use, eliminating the need for intervention. They feature a robust design with a bottom-set mechanism to prevent pre-sets, reducing non-productive time and operational failures during fracturing. These plugs improve operational efficiency by minimizing the need for post-fracturing retrieval.
In September 2024, Dril-Quip Inc., a US-based offshore drilling and production equipment company, merged with Innovex Downhole Solutions Inc. to form Innovex International. This new entity aims to offer a comprehensive portfolio of technologies supporting the entire lifecycle of oil and gas wells. Innovex Downhole Solutions Inc. is known for its manufacturing of oilfield equipment, including dissolvable frac plugs.
Major companies operating in the dissolvable frac plugs market are Schlumberger Ltd, Baker Hughes Co, Halliburton Co., Tenaris S.A, National Oilwell Varco (NOV) Inc., Weatherford International plc, Expro Group, Kureha Corporation, KLX Energy Services Holdings Inc., Nine Energy Service Inc, Innovex Downhole Solutions Inc, G&H Diversified Manufacturing L.P., Vertechs Group, The WellBoss Company, Vigor Drilling Co Ltd, Silver Fox Completion Services, Frank's International NV, Repeat Precision, Terves Inc., Lateral Completions Ltd
North America was the largest region in the dissolvable frac plugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dissolvable frac plugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the dissolvable frac plugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The dissolvable frac plugs market consists of sales of polymer-based dissolvable frac plugs, metallic dissolvable frac plugs, composite dissolvable frac plugs, and VapR dissolvable frac plugs. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Dissolvable Frac Plugs Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dissolvable frac plugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dissolvable frac plugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The dissolvable frac plugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.