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Proppants Market Report
Proppants Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
"The global proppants market was estimated to be worth USD 8.2 billion in 2022, and it is anticipated to increase to USD 13.1 billion by 2028, at a compound annual growth rate of 8.5%."
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Market Trends
Increased Shale Gas Exploration: The rising demand for shale gas and tight oil, particularly in North America, is driving the use of proppants. Hydraulic fracturing, a key technique in shale production, relies on proppants to keep the fractures open and maintain optimal extraction flow rates.
Shift to Ceramic and Resin-Coated Proppants: While sand remains the most commonly used proppant due to its cost-effectiveness, there is a growing preference for ceramic and resin-coated proppants in high-pressure and high-temperature wells due to their superior performance in extreme conditions.
Technological Advancements in Fracking: Ongoing innovations in hydraulic fracturing technologies are leading to greater efficiency in proppant use. This includes optimizing the size, shape, and material of proppants to enhance recovery rates while minimizing costs.
Environmental and Regulatory Challenges: Increasing regulations concerning environmental impact, particularly water use and contamination in hydraulic fracturing, have led to the development of more sustainable proppant solutions. The shift towards eco-friendly proppants, such as non-toxic, biodegradable options, is gaining traction.
The proppants market will be driven by advances in drilling and fracturing technology, rising proppant consumption per well, new proppant technologies, and rising natural gas demand to ensure energy security during the forecast period. Between 2022 and 2028, the increase in oil prices throughout the projection period will also increase demand for proppants.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Type Analysis |
Frac Sand, Resin-Coated Proppant, and Ceramic Proppant |
Frac Sand is anticipated to remain the largest proppant type in the years to come. |
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Application Type Analysis |
Shale Gas, Tight Gas, Coal bed methane & Others |
Coal bed Methane is estimated to be the dominant and fastest-growing application type in the years to come. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and The Rest of the World |
Asia-Pacific is expected to remain the largest market over the next five years. |
The proppant market is segmented into Frac Sand, Resin-Coated Proppant, and Ceramic Proppant. A common proppant is frac sand. It is a naturally occurring proppant crafted from sandstone of the highest quality. Most of these proppants can be used with a 6,000-psi closure pressure. Frac sand has a substantial market share and is frequently chosen as a proppant when oil prices are falling and E&P companies need to cut production costs. During the forecast period, the frac sand market is anticipated to be driven by rising US shale gas production as well as the creation of new shale gas basins around the globe.
Asia-Pacific is expected to remain the largest market for proppants during the forecast period. The development of shale gas in the area will enhance domestic demand for natural gas in major APAC nations. By reducing the countries' reliance on outside resources, the mining of shale gas is projected to improve the region's energy security. Shale gas development is still in its early stages, though. China is the main force behind countries employing cutting-edge technologies to extract shale gas from their reserves.
Shale gas extraction is riskier and more expensive than producing conventional gas. The extraction procedure is expected to be efficient, economical, and socially responsible. The region that produces the most coalbed methane worldwide is the Asia-Pacific. High coalbed methane reserves can be found, among other nations in the region, in China, India, Australia, Japan, and Indonesia. The region's low conventional natural gas deposits and high natural gas prices on the global market stimulate the development of coalbed methane. Due to the greatest coalbed methane deposits in the world, Australia is the leading nation in the area in terms of high commercial coalbed methane production. Additionally, these nations have large shale gas deposits.
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The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the proppants market:
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Proppants Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional and country level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirement? |
10% free customization |
The proppants market is segmented into the following categories:
By Proppant Type
By Application Type
By Region
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s proppants market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
The proppants market is estimated to grow at a CAGR of 8.5% by 2028.
Carbo Ceramics Inc. (US), COVIA (US), JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil) are the leading players in the proppant market.
Asia-Pacific is estimated to remain dominant in the proppants market in the foreseeable future. The key economies driving the region’s demand for Proppants are China and Australia.
Asia-Pacific is estimated to remain the fastest-growing market for proppants in the foreseeable future owing to presence of countries like China and Australia in terms of high commercial production of coalbed methane, as it has the world's largest coalbed methane reserves.
The proppant market will be driven by advances in drilling and fracturing technology, rising proppant consumption per well, new proppant technologies, and rising natural gas demand to ensure energy security during the forecast period.
Distributors, suppliers, manufacturers, logistics organizations, and government bodies.
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