The global proppants market size is likely to attain over USD 13.4 Billion by the year 2028. Besides, it is likely to project a CAGR of nearly 8.9% during the forecast years 2021-2028. Proppants are abrasive materials that are employed in the process of hydraulic fracturing, also known as fracking, to keep fissures open in shale rock. They assist in the extraction of oil and gas by forming a channel through which hydrocarbons can flow more freely. It’s widely available in different shapes, sizes, densities and qualities and play a vital role in influencing the final permeability of fissures. This process is crucial in the extraction of liquids and gas, which cannot be easily extracted through normal drilling methods.
The present and future proppants market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the proppants market opportunities during the forecast years. Factors such as the improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, are the key factors driving the market growth for proppants.
Also, the rising demand for oil and natural gas in both developed and emerging economies is another factor driving market growth. However, high cost of ceramic proppants makes it the least preferred proppants when oil prices crash. Ceramic proppants is costlier than uncoated or resin-coated proppants as it is an engineered product with more complex manufacturing process which is hampering the market growth. Furthermore, exploration of unconventional oil and gas reserves is likely to provide lucrative development opportunities for the proppants market in the forthcoming years.
The report also emphasizes several distinctiveness of the global proppants industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the proppants industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The proppants market has tough competition among the new emerging and pre-established market vendors. Besides, the proppants industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the Type segment, the market is bifurcated into Resin Coated Sand, Ceramic Proppants, and Frac Sand. The Ceramic Proppants segment is predicted to achieve the largest growth during the forecast years 2021-2028. On the other hand, the Frac Sand segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. Owing to its efficiency, low cost, and availability, Frac sand accounts for around 83% of the total proppants usage
Asia Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the proppants market in this region is mostly ascribed 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. However, the North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the domestic demand for natural gas due to the development of shale gas in the region.
The major players of the global proppants market are Carbo Ceramics Inc., U.S. Silica Holdings Inc., COVIA, JSC Borovichi Refractories Plant, Fairmount Santrol, Hi-Crush LP Partners, Momentive, Saint-Gobain, Fores, and Preferred Sands. Moreover, the additional prospective market players in the proppants market are Mineração Curimbaba, Xinmi Wanli Industry Development Co., Ltd., and Atlas Sand Company, Llc. Renowned companies are offering new and modern proppants solutions, and have increased production capacity in Asia Pacific due to application growth in the region. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Proppants Market
Type Overview, 2019-2028 (USD Million)
- Resin Coated Sand
- Ceramic Proppants
- Frac Sand
Application Overview, 2019-2028 (USD Million)
- Shale Gas
- Tight Gas
- Coal Bed Methane
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America