Pune, India, April 2021, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Proppants Market.
According toMRFR analysis, the global proppants market size was valued at around USD 7.8billion in 2020 and is expected to reach over USD 16.7billion by the end of 2028at a CAGR of 8.8%.
The growing demand forproppants is attributed to their continuous use across the oil and gas industryfor hydraulic fracturing.Proppantsare used to remove hydrocarbons from reservoirs.The extraction of natural and shale gas depends on the quality of the proppants that are used in the wells. Some of the other factors favoring the market growth for the proppants are increasing adoption of new fracking techniques such as horizontal multistage fracturing and introduction of lightweight proppant variants is further expected tosurge indemand for proppants across the globe.
In 2020, the proppants were priced around USD 0.68 to 1.27 per kg across the globe. In the same year, the price of ceramic proppants varied from USD 1.02 to 1.24 per kg. The proppants are expected to witness a gradual rise in the price with a range from USD 0.74 to 1.42per kg by2028. This price change is expected to be influenced by the availability and pricing of raw materials, while the demand for proppants is expected to streamup during the forecast period.
Access full report @ https://www.marketresearchfuture.com/reports/proppants-market-10556
By Product Type
- Frac Sand: The frac sand segment held the largest market share of over 50% in 2020 and is expected to dominate the market during the forecast periodattributed to its high demand and consumption across the oil and gas industries. These are used in the hydraulic fracturing process to manufacture numerous petroleum fluids, including natural gas, natural gas liquids, and oil from rock units which lack tolerable pore space for these fluids to flow into the well.The demand for frac sand exploded in last decade, as hydraulic fracturing became the standard method of producing oil and gas from tight rock formations such as the Utica Shale and Marcellus Shale of the Appalachian basin. Thus, these factors are expected to attract major traction for the segment in the coming years.
- Resin-Coated Proppants: Resin-coated proppants are used in wells having lower closure stresses. Coating sand with resin is a method to strengthen and control the fines. One of the fundamental challenges with resin-coated proppants is the thermo-chemo-mechanical stability at high temperatures and high pressure during the presence of fracturing fluid.
- CeramicProppants: The ceramicproppantssegment is expected to be the fastest-growing segment attributable to the increasing demand for high thermal and mechanical resistant materials in close wells. It has high compression strength,which can reach up to 30,000psi, and has a high conductivity, that significantly improves the production of oil & gas. The primaryraw material of ceramic proppant is bauxite, which is sintered through high temperature, thus providing a better spherical shape
- Shale Gas: This segment is expected to dominate the market throughout the forecast period. The application of shale gas in various industrial and residential sectors has increased its demand over the years, making it one of the most dominant segments. These gases extracted through fracking or hydraulic fracturing of sedimentary rocks are used as an energy source, majorly in North America and Asia-Pacific.
- Tight Gas: It is the fastest-growing segment owing to theincreasinguse as a source of energy. Tight gas reservoirs are locked in extraordinarily impermeable, hard rock, making the underground formation extremely tight. They can also be trapped in sandstone or limestone formations which are known as tight sand. Tight gas is an unconventional source of natural gas as it requires a significant amount of hydraulic fracturingto access the gas; this is because the low permeability of the rock, which means the pores within the stone are poorly connected, makes it hard for the gas to travel through them.
- Coal Bed Methane: Coalbed Methane (CBM), an unconventional source of natural gas, is now considered an alternative source for augmenting energy sources. It is used across various sectors as an energy source such as power generation, as a feedstock for manufacturing fertilizers and plastics, and can be converted into hydrocarbons like diesel and gasoline,which are commonly used as fuel for the automotive and transportation industry.
- Others: The others segment include gas hydrates and conventional natural gases.
- North America: The demand from shale gas sector drives market growth.
- Europe: A well-established oil and gasproduction sector.
- Asia-Pacific: The largest and fastest-growing regional market.
- Latin America: Rapid natural gas-producingsitesis fueling the demand for proppants in Latin America.
- Middle East & Africa: Growing demand from the end-use industriesof oil and gas and investment in the region's oil sectoris fueling the demand of the proppants in the region.