Global Proppant Market 2022 | Key Development To Be Observed Industry States And Outlook Across By 2028
According to the latest research by SkyQuest Technology, the Global Proppant Market was valued at USD 8.4 Billion in 2021, and it is expected to reach USD 15.4 Billion by 2028, with a CAGR of 8.95% during the forecast period of 2022 – 2028. The research provides up-to-date Proppant market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Proppants, which are irregularly sized materials, are included with fracturing fluid during the hydraulic fracturing (fracking) process to maintain the openings made in the soil. Proppants are now more necessary than ever because of hydraulic fracturing, a method used to increase the flow of oil and gas from oil and natural gas wells. One of the key factors driving the market’s expansion is the rising demand for proppants throughout the oil and gas industry due to hydraulic fracturing. Hydraulic fracturing is used in the oil and gas industry to enhance the flow of oil or gas from the well. To keep the fissures open and let the crude oil or natural gas to flow up into the well, proppants (propping chemicals) and fracturing fluid are put into the oil well.
The market demand will increase as a result of technological developments in new drilling and fracturing methods. The proppant market would be impacted during the projected period by the expansion of the shale sector and increased proppant usage globally. However, in response to rising environmental concerns, governments all over the world are passing laws to control hydraulic fracturing. Additionally, a major barrier to industry expansion is the exploitation of fossil fuels and renewable energy sources.
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Read market research report, ” Global Proppant Market By Product Type (Frac Sand, Resin-Coated Proppants, Ceramic Proppants), By Application (Shale Gas, Tight Gas, Coalbed Methane, Others (tight oil, deep gas and subsea hydrates)), & By Region – Forecast and Analysis 2022-2028” by SkyQuest
Asia-Pacific has the largest market share for Proppant and is expected to grow at the fastest rate during the projection period. Major APAC economies will experience a rise in domestic demand for natural gas because of the region’s shale gas output. The extraction of shale gas is projected to boost energy security in the area by reducing the region’s reliance on outside sources. Shale gas development, on the other hand, is still in its early stages. China will produce more shale gas throughout the projected period as it attempts to replicate the US shale gas boom. This would significantly raise demand for proppant in APAC.
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The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Carbo Ceramics Inc., COVIA, JSC Borovichi Refractories Plant, S. Silica Holdings Inc., among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Proppant Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Improvements in fracturing technology and new drilling techniques
The combination of horizontal drilling and multistage fracturing technologies has radically changed the picture for oil and gas production across the world. Exploration and production companies are drilling and finishing more sand into horizontal wells, and this trend is anticipated to accelerate over time. The average sand consumption per horizontal well has doubled since 2013 and is still anticipated to increase due to longer laterals and greater loadings per lateral foot. The development of technology to encourage the use of natural sand/frac sand rather than ceramic sand has resulted in an increase in demand for drilling proppants.
High cost of ceramic proppants
Sintered bauxite, kaolin, magnesium silicate, or mixtures of bauxite and kaolin are used to make ceramic proppants through an energy-intensive process. To enhance the porosity and permeability of the proppants bed, the proppants must be homogenous in size, shape, sphericity, and roundness throughout the production process.
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What does this Report Deliver?
● Market Estimation for 20+ Countries
● Proppant Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Proppant Market Trends
● Comprehensive Mapping of Proppant Industry Parameters
● Attractive Investment Proposition in the Global Proppant Industry
● Competitive Strategies Adopted by Proppant Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the Proppant Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Proppant market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter’s five force analysis to know the market’s condition
● Pricing Analysis and Proppant Market Sales
● Parent market analysis
● Product portfolio benchmarking
SkyQuest has segmented the Global Proppant Market based on Product Type, Application, and Region:
● Global Proppant Market by Product Type (Revenue, USD Billion, 2021 – 2028)
o Frac Sand
o Resin-Coated Proppants
o Ceramic Proppants
● Global Proppant Market by Application (Revenue, USD Billion, 2021 – 2028)
o Shale Gas
o Tight Gas
o Coalbed Methane
o Others (tight oil, deep gas and subsea hydrates)
● Global Proppant Market By Region (Revenue, USD Billion, 2021 – 2028)
o North America
Rest of Europe
o Asia Pacific
Rest of Asia Pacific
o Central & South America
Rest of CSA
o Middle East & Africa
Rest of MEA
Key Players in the Global Proppant Market
● Carbo Ceramics Inc. (US)
● COVIA (US)
● JSC Borovichi Refractories Plant (Russia)
● S. Silica Holdings Inc. (US)
● Hi-Crush Inc. (US)
● MineraçãoCurimbaba (Brazil)
● XinmiWanli Industry Development Co., Ltd. (China)
● Atlas Sand Company, Llc (US)
● HEXION (US)
● Schlumberger Limited (US)
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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