According to the new market research report “Proppants Market by Type(Frac Sand, Resin-Coated Proppant, Ceramic Proppant), Application (Shale Gas, Tight Gas, Coalbedmethane & Others) and Region – Global Forecast to 2025″, The proppants market is estimated to be USD 7.8 billion in 2020 and is projected to reach USD 12.1 billion by 2025, at a CAGR of 9.1% between 2020 to 2025. The improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, innovation in proppants technologies and the growing natural gas demand to ensure energy security is driving the proppants market during the forecast period.
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Frac sand is a widely used proppant. It is a naturally occurring proppant made from high purity sandstone. These proppants are mostly applicable under closure pressure of 6,000 psi. US is the largest proppants market in the world and holds a significant share in the global market. In the US proppants market, frac sand is estimated to hold a major share, making frac sand to be the largest type in the proppants market.
Shale gas is natural gas that is trapped in shale formations. Shales are fine-grained sedimentary rocks from which petroleum and natural gas are extracted. Hydraulic fracturing and horizontal drilling are used to extract shale gas from its reserves. The production of shale gas has rejuvenated the natural gas industry in the US and across the world. Proppant is widely used for the extraction of shale gas.
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The proppants market is estimated to be USD 7.8 billion in 2020 and is projected to reach USD 12.1 billion by 2025, at a CAGR of 9.1% between 2020 to 2025. The improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, innovation ni proppants technologies and the growing natural gas demand to ensure energy security is driving the proppants market during the forecast period.
Proppants is treated sand or engineered ceramic material, which is used to keep fractures propped open after the fracturing treatment. Different types of proppants have different mechanical strengths to withstand high closure pressures ranging from 6,000 psi to 20,000 psi. Proppants are injected into the wellbore along with water and additives with high-pressure intensity to make the fractures. They need to be permeable to gas under high pressure. Large mesh proppants have a greater permeability at low closure stresses, whereas small mesh proppants have greater permeability at high closure stresses. Proppants used in hydraulic fracturing have a direct impact on the cost of the oil & gas production output. The Proppants selection depends on the reservoir type, closure stress, depth, and stages of fracturing.
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The major industry players are adopting strategies such as, expansions, and acquisitions to expand their global presence and increase their footprint in North America.The leading players in the market are Carbo Ceramics Inc. (US), COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co., Ltd. (China), Atlas Sand Company, Llc (US), and HEXION (US).
In 2020, the proppants market declined by 27% in terms of volume, which was due to the oil price crash triggered by the COVID-19 pandemic. The unprecedented demand shock in the oil industry in 2020 led to a historic drop in the oil prices, as governments around the world closed down businesses, issued stay-at home mandates, and restricted travel. The proppants demand is estimated to recover in 2021 with the average oil price in 2021 expected to be above 50 USD/bbl.
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