Global Proppants Market Growth Fostered by Increasing Adoption Unconventional Oil & Gas Extraction

Proppants are abrasive materials that are used in hydraulic fracturing to prevent the closing of fissures in shale rocks. They assist in extracting oil and gas by developing a channel through which hydrocarbons can flow freely. Currently, they are widely available in different sizes, shapes, densities and qualities, which play an essential role in shaping the final permeability of fissures. According to IMARC Group, the global proppants market size reached a value of US$ 7 Billion in 2018.

One of the primary factors that are strengthening the growth of the proppants industry is the consistently rising demand for oil and natural gas in both developed and developing economies. Earlier, oil and natural gas were mainly procured by employing conventional extraction techniques. However, with the rapid exhaustion of resources, there has been an increase in the adoption of unconventional oil and gas extraction techniques. Manufacturers nowadays are coming up with new fracking techniques, including horizontal multistage fracturing, to enhance the extraction process. Furthermore, numerous key players are setting up new manufacturing facilities in China as the country offers low production costs and easy availability of raw materials for producing ceramic proppants. On account of these factors, the global proppants market is projected to reach a value of US$ 10 Billion by 2024, registering a CAGR of 5.1% during 2019-2024.

Frac Sand Represents the Most Widely Utilized Proppant

On the basis of the product type, the market has been segmented into resin-coated sand, ceramic proppants and frac sand. Frac sand currently represents the most widely utilized proppant across the globe on account of its low price. Moreover, its demand is anticipated to increase in the upcoming years due to the increasing hydraulic fracturing activities.

Shale Gas is the Leading Application Segment

Based on the application, the market has been segregated into shale gas, tight gas, coal bed methane and others. Amongst these, shale gas accounts for the majority of the total market share. This can be attributed to its extensive use in power generation and transportation, along with the large-scale utilization of proppants in shale gas extraction.

North America Holds the Dominant Share

The proppants market in North America holds the dominant share on account of a moderate recovery in oil prices, increase in material loading levels and the introduction of longer laterals to boost natural gas production in different parts of the region. Other major markets include Asia Pacific, Europe, Latin America, and Middle East and Africa.

The competitive landscape of the market has been analyzed in the proppants market report with the detailed profiles of the key players operating in the industry. Some of these players are

• Carbo Ceramics Inc.
• Saint-Gobain Proppants Inc.
• U.S. Silica Holdings Inc
• Borovichi Refractories Plant
• Yixing Orient Petroleum Proppants Co. Ltd.
• Mineração Curimbaba Ltd
• China Gengsheng Minerals Inc.
• Fairmount Santrol Holdings Inc.
• Superior Silica Sands LLC
• Hi-Crush Inc
• Hexion Inc
• Unimin Corporation
• Preferred Sands LLC
• Fores Ltd
• Badger Mining Corporation (BMC)
• Smart Sand Inc., Mississippi Sand LLC
• Changqing Proppant Corporation
• Yangquan Changqing Petroleum Proppant Co. Ltd

Eagle Materials Inc.

Other Report by IMARC Group:

Self-Care Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the proppants industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:

• Market Research
• Plant setup
• Plant Expansion
• Marketing and sales
• Procurement and Distribution

Innovation and Product Development

Imarc Group is a leading market research and consulting company that offers management strategy and market research worldwide.