Ceramic Proppant Market to Receive Overwhelming Hike in Revenues by 2026
Ceramic Proppant Market: Introduction
Proppant is a solid material, typically treated sand or man-made ceramic materials, designed to keep induced hydraulic fracture open, during the fracturing treatment. Ceramic proppant is added to fracking fluid which may vary in composition depending on the type of fracturing. Ceramic proppant is employed in low-volume well stimulation, which has high permeability sandstone wells to the high-volume operations. The quality and performance of the ceramic proppant is important to build fractures and to maintain a favorable balance between contact and conductivity for the lifespan of oil wells. Lightweight ceramic proppants are economically feasible and produced from close-controlled high-quality calcined kaolin clay. The function of ceramic proppant is to maintaining conducive fractures during well production. Ceramic proppants are composed of silica or ash, advanced proppants such as ultra-weight proppants are preferred as they have decreased settling time and require low viscosity fluids for transporting oil and gas.
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These proppants maintain conductive hydraulic fractures and are used as a crude way to detect hydraulic fracture geometry and to detect matrices for the slow release of down-hole chemical additives. The manufacturing process of ceramic proppants is eco-friendly and it uses raw materials such as bauxite. Sand-based proppants are commonly used in the oil & gas industry as they are readily available at low cost.
Ceramic Proppant Market: Segmentation Outlook
The global ceramic proppant market can be segmented based on form, application, and region. In terms of form, the ceramic proppant market can be bifurcated into granular and powder. The powder segment is projected to expand at rapid pace during the forecast period. Increasing need for oil and gas is driving the demand for powder ceramic proppant.
Based on application, the ceramic proppant market can be classified into oil & gas, building & construction, chemicals, and others. The oil & gas segment is projected to expand at a substantial pace during the forecast period. Oil well technique of hydraulic fracturing is frequently used. Rocks are fractured using liquids, which are hydraulically pressurized. This cracks the rocks to assure free flow of petroleum, brine, and natural gas. Ceramic proppants are preferred over other alternatives as they are small in size and possess high strength and conductivity. This helps increase the demand for ceramic proppant during the forecast period.
Ceramic Proppant Market: Regional Outlook
In terms of region, the global ceramic proppant market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. North America is expected to remain a leading region for the global ceramic proppant market during the forecast period. Increasing demand for oil exploration companies & recovery in natural gas prices, would extend the oilfield activity. This, in turn, is projected to be a factor driving the ceramic proppant market during the forecast period.
Furthermore, high consumption oil and gas in Asia Pacific, especially in India and China is expected to increase the ceramic proppant market demand during the forecast period. Countries in the Middle East, who have massive mining infrastructure are actively investing in drilling multi-stage oil wells. This is anticipated to boost the demand for ceramic proppant in the sub-region.
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Ceramic Proppant Market: Key Player
The global ceramic proppant market is consolidated. Small numbers of companies operate at the global and regional level. Major companies include Badger Mining Corporation, Fores LLC, Carbo Ceramics, JSC Borovichi Refractories Plant, Momentive Speciality Chemicals Inc., and Imerys S.A. Players operating in the market consider numerous factors such as stress on proppants, creation of permeability and conductivity to maximize efficiency of their operations.
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