USD 8.5 billion
Report ID: SQSG15A2008 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Global Proppant Market size was valued at USD 8.5 billion in 2021 and is poised to grow from USD 9.2 billion in 2022 to USD 18.6 billion by 2030, growing at a CAGR of 9.1% in the forecast period (2023-2030).
During the hydraulic fracturing (fracking) procedure, proppants—rough, consistently sized materials—are used with fracturing fluid to keep open cracks created in the earth. Hydraulic fracturing, a technique used to boost the oil and gas output from oil and natural gas wells, has recently raised the need for proppants.
Rising demand for proppants throughout the oil and gas sector owing to its hydraulic fracturing is one of the main reasons promoting the market's growth. The oil and gas sector use hydraulic fracturing to improve the flow of oil or gas from the well. Fracturing fluid is poured into the oil well together with proppants (propping agents) to keep the fissures open and allow the crude oil or natural gas to flow up into the well.
US Proppant Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.5 billion
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The Global Proppant Market is segmented based on the Product type, Application and Region. Based on the Product Type, the Global Proppant Market is segmented as Frac Sand, Resin-Coated Proppants, Ceramic Proppants. Based on Application, the Global Proppant Market is segmented as Shale Gas, Tight Gas, Coalbed Methane, Others (tight oil, deep gas and subsea hydrates). Based on Region Proppant Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Proppant Market Analysis by Product Type
With a market share of over 50% in 2021, the frac sand category led the market and is predicted to continue to do so throughout the forecast period. They are crush-resistant, which enables the petroleum sector to employ them as fracking material. Since sand can only be used in wells with lower closure stresses, ceramic proppants, which are artificial, have a higher crush strength than sand. This makes ceramic one of the fastest-growing market categories.
In hydraulic fracturing, resin-coated proppants are employed to boost fracture conductivity, prevent formation particles from migrating toward the wellbore, halt proppant flow back, reduce fracture permeability loss through crushing or embedment, and preserve long-term fracture permeability. During the projected period, the industry is anticipated to significantly benefit from these aspects.
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Proppant's highest market share is in Asia-Pacific, which is also projected to increase at the quickest rate over the projection period. Due to the region's shale gas production, major APAC economies will see an increase in domestic demand for natural gas. By lowering the region's dependency on outside sources, the extraction of shale gas is anticipated to increase energy security in the area. On the other hand, shale gas development is still in its infancy. During the projection period, shale gas output in China will rise as the nation tries to imitate the US shale gas boom. This would greatly increase proppant demand in APAC.
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Proppant Market Driver
Improvements in fracturing technology and new drilling techniques
Proppant Market Restraint
High cost of ceramic proppants
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The Global Proppant market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Proppant Market Top Player's Company Profiles
Proppant Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Proppant Market Analysis, the market for proppants is expanding at an extremely rapid rate, mostly because to the rising drilling activity in North America and the Asia-Pacific region. The advent of novel fracking techniques, such as horizontal multistage fracturing, which are predicted to acquire significant popularity in the following years, is expected to result in strong demand for proppants in the next years. Additionally, it is anticipated that increased research and development to create lightweight proppant variations would aid in the market's expansion during the forecast period.
|Market size value in 2021||USD 8.5 billion|
|Market size value in 2030||USD 9.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Proppant Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Proppant Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Proppant Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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