According to the latest report, the global Proppants Market size in 2020 is witnessed at USD 7.95 billion and is predicted to grow at the highest CAGR of 10.15% with a market size of USD 16.72 billion during the forecast period 2021–2028.
Proppants are grainy and equal-sized materials. To hold the open fractures made in the ground, these are combined with fracturing fluid in the hydraulic fracturing process. Using hydraulic fracturing, the oil & natural gas wells yield more oil & gas which is rising the demand for the proppants. These proppants solutions help in improving the production capacity of well through the dispatching of more oil & gas per day which is possible by combining new drilling techniques with ultra-sophisticated frac designs.
Rising demand for proppants from the oil & gas industry by hydraulic fracturing process is propelling the market growth. The introduction of innovative fracking techniques like horizontal multistage fracturing is predicted to escalate the market growth in the review period. Moreover, increasing focus on research and development for developing the lightweight proppants variants is boosting the growth of the market in the coming years. Surging demand for ceramic and resin-coated proppant will fuel the market growth. The advanced technologies in new drilling techniques and fracturing technology are expanding the market growth.
The proppants market opportunities are developing eco-friendly non-phenolic resin-coated proppants and improving the hydraulic fracturing process in terms of rising fracture flow capacity is accelerating the market growth.
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Market Segmentation
The proppants market is classified into two segments based on the product type, and application.
Product Type Segmentation: The proppants market by product type are trifurcated into frac sand, resin-coated proppant, and ceramic proppant.
Application Segmentation: Based on the application, the proppants market is split into a few forms such as shale gas, tight gas, coal bed methane, and others.
Regional Analysis
Based on the latest survey, the proppant market based on the region is divided into five regions such as Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Out of these regions, North America is dominating the largest market share due to the development of new gas technology. The oil and gas industry is boosting the market growth in this region.
The presence of the top natural gas-producing states like Texas, Louisiana, Oklahoma, and Pennsylvania. Europe is predicted to be the fastest-growing region due to the development of natural gas production and rise in the petroleum products development. Due to the presence of India and China that has high demand from the oil & gas industry, the Asia-Pacific is holding the largest market share.
The proppants market’s industry players are COVIA, S.Silica Holdings Inc, Carbo Ceramics Inc, Atlas Sand Company Llc, HEXION, Hi-Crush Inc, XinmiWanli Industry Development Co, Ltd, and others.
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Industry News
As per the latest study, the global proppants market forecast states that this product is expected to reach the peak position in the market due to growing investment in R & D to develop the new technologies, mergers, acquisitions, joint ventures, etc. The Chinese government introduced the first shale gas industrial policy that promotes rapid growth of the shale gas industry is projected to foster market growth.
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Assumptions & Limitations
2.4 Market Structure
2.5 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
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5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends
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