Proppant Market To Reach Usd 12 Billion By 2027 | Cagr 4.3% — Forencis Research
Global Proppant Market: Key Highlights
- According to the new market research report “Proppant Market by Type (FRAC Sand Proppant, Resin–Coated Proppant, and Ceramic), by Application (Shale Gas, Tight Gas, Coal-Bed Methane), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global proppant market is estimated to reach USD 12 Billion by 2027 at a CAGR of around 4.3% during the review period.
- Proppant is a sand material, which helps to keep hydraulic fracturing open during the hydraulic fracturing treatment
- It is used to close the fractures in bore well process. When the liquid mix of proppant, chemicals, and water is propelled into a well, the sudden impact opens fractures in the rock
Global Proppant Market: Key Market Dynamics
- With the increasing hydraulic fracturing activities, demand for FRAC sand is projected to increase due to the low-cost and abundant availability is expected to drive global proppant market
- Development in fracturing technology and new drilling techniques is also one of the key driving factors that drive the global proppant market
- Moreover, unconventional oil & gas reserves have expected to create a new market opportunity for key players in the proppant market
- However, the high cost of ceramic proppant is likely to hamper the growth of the global proppant market
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Global Proppant Market: Regional Overview
- North America
North America is expected to account for the largest share in the global proppant market during the forecast period, owing to the presence of large gas and shale gas reserves. Moreover, presence of the major players such as CARBO Ceramics Inc., Saint-Gobain, U.S. Silica, Hexion, Fairmount Santrol, Hi-Crush Inc, and Superior Silica Sands is also contributing to North America for holding a leading position in the global proppant market.
Asia-Pacific is the second-largest market for the global proppant market and it is expected to grow at a higher CAGR during the forecasted period. This growth can be attributed to the presence of enormous shale gas reserves and hydraulic fracturing projects in China and Australia coupled with potential shale gas extraction projects in India and other Asian Countries. Moreover, government initiatives to develop shale gas reserves in near future in India and China is also projected to drive the proppant market in the Asia-Pacific region.
Global Proppant Market: Key Players Overview
- CARBO Ceramics Inc:
CARBO Ceramics Inc. is a US-based company, produced and supplies ceramic proppant for the oil & gas industry. The company also provides foundry metal casting and industrial mining grinding. CARBO Ceramics Inc. develops and manufactures industry-leading technologies and across various industries including agriculture, automotive, construction, environmental, foundry, minerals, mining, municipal & industrial wastewater, retail & commercial, and many others.
- U.S. Silica
U.S. Silica is a producer of commercial silica, a specialized mineral that is input into a range of end markets. The company majorly operates in two business segments Oil & Gas Proppants and Industrial & Specialty Products. Through the oil & gas proppants, business segment company serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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