Pune, India, August 2023, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Proppants Market.
Market Research Future (MRFR) has published a cooked research report on the “Global Proppants Market” that contains information from 2023 to 2032. The Global Proppants Market is estimated to register a CAGR of 10.15% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Global Proppants Market— Carbo Ceramics Inc., COVIA, JSC Borovichi Refractories Plant, S. Silica Holdings Inc., Hi-Crush Inc., MineraçaoCurimbaba, XinmiWanli Industry Development Co. Ltd., Atlas Sand Company LLC, HEXION, and Schlumberger Ltd.
The Global Proppants Market is accounted to register a CAGR of 10.15% during the forecast period and is estimated to reach USD 20.28 Billion by 2032.
The Global Proppants Market refers to the worldwide industry involved in the production, distribution, and consumption of proppants. Proppants are small, solid particles, typically sand, ceramics, or resin-coated materials, used in hydraulic fracturing or "fracking" operations within the oil and gas industry.
The Global Proppants Market is heavily influenced by the demand for oil and gas, as hydraulic fracturing is a vital process for unlocking hydrocarbon resources from unconventional reserves like shale plays. The market's growth and dynamics are influenced by factors such as energy prices, drilling activities, technological advancements in fracturing techniques, and environmental regulations.
The Global Proppants Market has been segmented based on product type and application.
On the basis of product type, the market is segmented into frac sand, resin-coated proppant and ceramic proppant. The frac sand segment dominated the market due to its cost-effectiveness and abundance. It is composed of silica, providing the strength to withstand high pressure and temperature conditions.
Based on application, the market has been segmented into shale gas, tight gas and coal bed methane. The shale gas segment category generated the most income. Shale gas extraction involves the hydraulic fracturing shale rock formations to release natural gas trapped within them. The demand for proppants in the shale gas application segment has been substantial, as hydraulic fracturing requires a large volume of proppants.
The Global Proppants Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Proppants Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Proppants Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Proppants Market comprises of Middle East, Africa, and Latin America.
North America has been one of the largest and most influential markets for proppants. The boom in shale gas and tight oil production in regions like the Permian Basin, Bakken Formation, and Marcellus Shale drove the demand for proppants in hydraulic fracturing operations.
The Asia-Pacific region, including countries like China and Australia, also had a substantial impact on the proppants market. As the region's energy demand increased, there was a growing interest in exploiting unconventional oil and gas resources through hydraulic fracturing, leading to a rise in proppants consumption.
Countries in Europe, such as Russia and Poland, showed growing interest in shale gas exploration, which influenced the demand for proppants. However, the European proppants market was relatively smaller compared to North America and Asia-Pacific.
Furthermore, the rest of the world's Global Proppants Market is divided into the Middle East, Africa, and Latin America. Countries like Argentina and Brazil were emerging markets for proppants, as they explored and developed their shale gas resources. The growth of the proppants market in this region was tied to the expansion of oil and gas exploration activities.
Key Findings of the Study
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