WASHINGTON, April 04, 2023 (GLOBE NEWSWIRE) -- The Global Proppant Market is valued at USD 7.9 Billion in 2022 and is projected to reach a value of USD 14.25 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.8% over the forecast period 2023-2030.
Market Overview
The increasing adoption of Proppants across the oil and gas industry due to hydraulic fracturing is one of the main reasons promoting the market's growth. The oil and gas sector employs hydraulic fracturing to improve the flow of oil or gas from the well. Additionally, increasing research and development to create lightweight Proppant variations will aid the market's expansion during the forecast period.
We forecast that the resin-coated category in Proppant market sales will account for more than 44% of total sales by 2028. In groundwater contamination, resin-coated Proppants are employed to boost fracturing permeability, restrict formation particles from migrating toward the wellbore, stop particle flow back, reduce fracture permeability loss through crushing or embedment, and long-term relationships breach susceptibility.
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Market Dynamics
Frac Sand Proppants are the Most Widely Used Category to Support Market Expansion
Frac sand is the most popular type of hydraulic fracturing Proppant on the market. Square cocktail quartz sand that is incredibly robust and pure is used to make frac sand Proppants. Sandstone is primarily used to construct them. Frac sand makes up around 83% of all Proppants used because it is effective, affordable, and readily available. Elevated silica sand, a perfectly circular shape that helps to carry it further in hydraulic fracking fluid with very little turbulence, and durability to resist crushing forces of closing fractures are superior qualities of high-quality frac sand that improve its use as Proppants and thereby increase market demand.
Overall Growth of Hydraulic Fracturing Services to Drive the Market Growth
The fact that the United States and Canada are consistently witnessing increases in the revenues generated from this market will help to understand further the potential prospects in the hydraulic fracturing & services market. The service providers require Proppants to maintain an open hydraulic fracture throughout the procedure. Additionally, exploration and production operations are progressing, and as a result, there is a noticeable increase in demand for hydraulic fracturing, bolstering the Proppants industry.
Top Players in the Global Proppant Market
- Carbo (Houston)
- Saint-Gobain (Courbevoie)
- JSC Norovich Refractories Plant (Russia)
- Superior Silica Sands (United States)
- Fairmount Santrell (Chesterland)
- Badger Mining Corporation (Berlin)
- RBN Energy (Houston)
- Changing Proppant Corporation
- Silica Company (Katy)
- Covian (Independence)
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Key Challenges Facing the Proppant Market:
- They can be expensive.
- They can be difficult to transport and store.
- They can have a negative impact on the environment.
What is the future of the proppant market?
The proppant market is expected to grow significantly in the coming years, driven by the increasing demand for oil and gas. The market is also expected to benefit from the development of new technologies, such as horizontal drilling and multilateral wells.
Key Opportunities Facing the Proppant Market:
The increasing demand for oil and gas: The global demand for oil and gas is expected to grow significantly in the coming years, driven by the growth of the global economy and the increasing population. This growth in demand is expected to drive the demand for proppants, which are used in the production of oil and gas.
The development of new technologies: The development of new technologies, such as horizontal drilling and multilateral wells, is expected to increase the productivity of wells and the demand for proppants. Horizontal drilling allows oil and gas companies to access oil and gas reserves that were previously inaccessible. Multilateral wells allow oil and gas companies to extract oil and gas from multiple formations from a single well. Both of these technologies are expected to increase the demand for proppants.
The growth of unconventional oil and gas resources: The growth of unconventional oil and gas resources, such as shale gas and tight oil, is expected to drive the demand for proppants. Unconventional oil and gas resources are more difficult to extract than conventional oil and gas resources, and they require the use of proppants to keep fractures open and allow for the flow of oil and gas.
The increasing use of recycled proppants: The increasing use of recycled proppants is expected to drive the demand for proppants. Recycled proppants are made from used proppants that have been cleaned and reconditioned. They are a more environmentally friendly option than virgin proppants, and they are also less expensive.
The development of new proppant materials: The development of new proppant materials, such as ceramic proppants and resin-coated sand proppants, is expected to drive the demand for proppants. Ceramic proppants are more durable than sand proppants and are often used in wells that are expected to produce high volumes of oil and gas. Resin-coated sand proppants are made from sand that is coated with a resin. The resin helps to keep the sand particles from sticking together and helps to prevent the proppants from being washed out of the fractures.
Top Report Findings
- Based on Type, the resin-coated Proppants category controls most of the Proppant market's revenue. It has been discovered that the resin-coated Proppants increase the productivity of oil wells. The use of resin-coated Proppants will increase due to the increased need for an activity economy. The suppliers in the Proppants market will see more resin-coated Proppants being used.
- Based on the Applications, most of the Proppant market's revenue is controlled by the shale gas category. The area that globally produces the greatest coalbed methane. China, India, Australia, Japan, and Indonesia are just a few countries with significant coalbed methane reserves. Insufficient conventional natural gas reserves in the area and high natural gas prices on the international market encourage the growth of coalbed methane. Hence fostering the expansion of the Proppant market throughout the anticipated period.
- Based on Ceramic Proppants, most of the Proppant market's revenue is controlled by the lightweight ceramic Proppants category. Products made of lightweight ceramic Proppants function exceptionally well during drilling operations procedures in oil and gas wells and are crucial in enhancing productivity at current locations.
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Top Trends in Global Proppant Market
- One trend that Vantage Market Research (VMR) predicts in the Proppant industry is the rising usage of ceramic Proppants. Sintered bauxite, kaolin, magnesium silicate, or mixtures of bauxite and kaolin are used in an energy-intensive manufacturing process to create ceramic Proppants. Ceramic Proppants are employed during or after a fracture treatment to keep the produced hydraulic fractures open. Market share has increased as a result of an increase in oil and gas extraction operations. Because ceramics are stronger than sand, there is a greater demand for ceramic Proppants than sand-based alternatives, increasing the market share.
- Another trend that VMR expects will continue in the Proppant industry is incorporating eco-friendly processes in oil wells. Going green has become crucial in all businesses, and the oil and gas industrial sector is no exception. Since ceramic Proppants are comparatively more environmentally favorable, their application will increase.
Resin Coated Proppants Category in Proppant Market to Generate Over half the Revenue from among the Type Segment
For better understanding, based on the Type, the Proppant market is divided into Frac Sand, Resin Coated Proppant and Ceramic Proppants.
During the forecast period, the Proppant market is projected to experience the highest CAGR for the VR devices category. Forged sand, fusible sand, and pottery man-made sand are three types of sand designed to meet stringent requirements for resin-coated fracking Proppants. Global demand for unconventional resources like shale gas and shale oil is a major factor in expanding the resin-coated Proppant market. The desire for groundwater contamination to boost output from tight oil and gas reservoirs is also boosting the expansion of the world market for resin-coated Proppants.
On the other hand, the ceramics Proppants category is anticipated to grow significantly. One of the product type segments with the quickest growth is ceramics. This is primarily attributable to its use as a frac sand substitute. Ceramic Proppants, which have a higher compressive strength than sand, can only be used in wells with low shutdown stresses, making ceramic one of the fastest-growing market categories.
Global Proppant Market Segmentation
By Type
- Frac Sand
- Resin-coated Proppants
- Ceramic Proppants
By Application
- Shale Gas
- Tight Gas
- Coalbed Methane,
- Others
By Ceramic Proppants
- High Strength Ceramic Proppants
- Intermediate Strength Ceramic Proppants
- Light Weight Ceramic Proppants
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Proppant Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 7.9 Billion |
| Revenue Forecast by 2030 | USD 14.25 Billion |
| CAGR | 8.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Carbo, Saint-Gobain, JSC Norovich Refractories Plant, Superior Silica Sands, Fairmount Santrell, Badger Mining Corporation |
| Customization Options | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/proppants-market-2059/request-sample |
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Recent Developments in the Global Proppant Market
- March 2020- The expansion of Covian Holdings LLC's Canotiers factory in Mexico was finished. To meet the increasing demand from customers in the area, Covian will increase its ability to produce silica by 350 tons annually with the construction of this facility in Mexico.
- March 2020 - Covian Holdings LLC upgraded its North American facilities for about USD 45 million price tag. Through this growth, Covian will be able to serve the polymers and coatings end industries and build a very effective, up-to-date facility.
Key Questions Answered in Proppant Market Report
- What is the current market size of proppants, and what is the expected growth rate over the forecast period?
- What are the key drivers, restraints, and trends influencing the proppant market, and how are they likely to shape the market's future?
- What are the different types of proppants available, and what are their respective market shares and growth prospects?
- What are the main application areas of proppants, such as hydraulic fracturing, and what are the market shares and growth prospects of these applications?
- Who are the major players in the proppant market, what are their market shares, and what strategies are they employing to gain a competitive advantage?
- What are the major challenges and opportunities facing the proppant market, and how can companies capitalize on these to enhance their market position?
- What is the regulatory environment governing the proppant market, and how is it likely to evolve in the future?
Regional Analysis
North America Region in Proppant Market to Generate a Significant Revenue
North America region dominates the market throughout the projection period. The United States is one of the popular nations in discovering unconventional crude oil deposits and using hydraulic fracturing to access them. The market for Proppants has benefited from the country's expanding use of fracking, particularly for shale gas and tight oil uses.
The Asia Pacific region is projected to grow faster in the market. Shale gas production in the region will increase domestic demand for natural gas in major APAC economies. By lowering reliance on outside sources, shale gas mining is anticipated to increase the region's energy security. The area that globally produces the greatest coalbed methane. China, India, Australia, Japan, and Indonesia are just a few countries with significant coalbed methane reserves. Insufficient conventional natural gas reserves in the area and high natural gas prices on the international market encourage the growth of coalbed methane. Hence fostering the expansion of the Proppant market throughout the anticipated period.
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