Home Press Releases Proppants Market Size Worth $13.23 Billion By 2028 | CAGR: 8.6%

Proppants Market Size Worth $13.23 Billion By 2028 | CAGR: 8.6%

The global proppants market size is expected to reach USD 13.23 billion by 2028 according to a new study by Polaris Market Research. The report “Proppants Market Share, Size, Trends, Industry Analysis Report, By Type (Ceramic Proppant, Frac Sand, Resin-Coated Proppant); By Application (Tight Gas, Shale Gas, Coal Bed Methane, LNG, Others); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The driving factors for proppants market include economic growth in developing countries, increasing requirement for proppants per well, and greater demand for natural gas. The growth in the global oil and gas industry and technological advancements in drilling and fracturing technologies have further contributed to the industry growth.

 

However, the COVID-19 outbreak has negatively impacted the proppants industry due to disruption of the supply chain, operational challenges, transportation delays, and travel restrictions. Reduced oil demand, economic decline, and drop in oil prices have impacted the growth of the proppants industry.

 

On the basis of type, the industry is segmented into ceramic proppant, frac sand, and resin-coated proppant. The frac sand segment dominated the global industry in 2020. Frac sand is a natural material made from high-purity sandstone. The size range for frac sand varies between 0.1mm in diameter to over 2mm in diameter. The grain size is customized according to the application.  It is spherical in shape to provide minimal turbulence while being carried in the hydraulic fracturing fluid. It offers high durability to be able to resist the crushing forces of closing fractures.

 

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On the basis of application, the proppants industry is segmented into tight gas, shale gas, coal-bed methane, LNG, and others. The shale gas segment dominated the global industry in 2020. The presence of large unexplored shale gas reserves, technological advancements in extraction methods, and rising demand for shale gas to meet energy requirements support the industry’s growth. Industry players, manufacturers, and private organizations are collaborating to expand and cater to wider applications and develop advanced technologies.

 

North America dominated the global proppants industry in 2020 and is expected to maintain its dominance over the forecast period. Increasing oil and gas exploration and the rising development of shale gas reserves support industry growth in this region. However, the Asia-Pacific region is expected to grow significantly during the forecast period due to increasing demand for minerals and limited reserves of conventional natural gas. Leading global players are expanding their presence in developing nations of this region to tap the growth opportunities offered by these countries.

 

Some major Market Participants include Badger Mining Corporation, Atlas Sand Company, Carbo Ceramics Inc., Covia Holdings LLC, Fores Engineering, Compagnie de Saint-Gobain S.A., Xinmi Wanli Industry Development Co., Ltd, Hexion Inc., JSC Borovichi Refractories Plant, Hi-Crush Inc., Mineração Curimbaba Ltda, Preferred Proppants, LLC, Momentive Performance Materials, Schlumberger Limited, Unimin Corporation LLC, U.S. Silica Holdings, Inc., and Yixing Orient Petroleum Proppant Co. Ltd.

 

Market players are collaborating with each other for research and development, strengthening market presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged market participants to leverage new technologies for the development of high-quality products.

 

Polaris Market Research has segmented the proppants market report on the basis of type, application, and region:

Proppants Type Outlook (Revenue, USD Billion, 2016 – 2028)

  • Ceramic Proppant
  • Frac Sand
  • Resin-Coated Proppant

Proppants Application Outlook (Revenue, USD Billion, 2016 – 2028)

  • Tight Gas
  • Shale Gas
  • Coal Bed Methane
  • LNG
  • Others

Proppants Regional Outlook (Revenue, USD Billion, 2016 – 2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
    • Austria
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Israel
    • UAE

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