Global Proppant Market was valued US$7.06 Bn in 2017 and is estimated to reach US$11.50 Bn by 2026 at a CAGR of about 6.29%.
The report segment of Global Proppant Market based on type, application, and region. In terms of type, the proppant market can be classified into sand, resin coated, ceramic. Based on application, the proppant market is divided into shale gas, tight gas, coal bed methane, others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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The Global Proppant Market is estimated to register significant growth in the near future due to anticipated rise in global crude oil prices, which is likely to revamp the global shale industry. Large technically recoverable reserves in Asia Pacific coupled with increase in consumption of proppant per well is anticipated to act as a key market driver over the next few years. Gaining popularity of ceramic proppant on account of excellent properties including high strength, conductivity, and crush resistance are anticipated to play an important role in driving proppant market over the projected period. Stringent government regulations aimed at reducing hydraulic fracturing due to its dangerous environmental impact and ground water contamination could pose a challenge to market growth. Moreover, high transportation cost of proppants is also anticipated to have a negative impact on the market growth. The development of ecofriendly non-phenolic resin coated proppants and improvement in hydraulic fracturing process in terms of rise in fracture flow capacity could be major growth opportunities over the next few years.
Global Proppant Market
Proppant market is segmented into type, application, and region. In terms of type, sand material held the largest volume share, of more than 85.0%, in the proppant market in 2017. Low cost and high availability of sand as compared to other proppants are anticipated to help maintain market leadership over the forecast period. Resin coated proppants are estimated to witness high demand on account of a performance advantage over sand and cost advantage over ceramic proppants.
On the basis of application, shale gas extraction was the largest application area of the material during the historical period. Growing application scope of proppant in shale gas extraction owing to its use in power generation and transportation is anticipated to drive market growth over the forecast period.
In terms of region, North America dominated the regional market of proppant and is anticipated to witness significant growth. Global Proppant Market in Asia Pacific is estimated to witness demand growth owing to the presence of enormous shale gas reserves. Moreover, demand for ceramic proppant in Russia is anticipated to accelerate on account of growing hydraulic fracking activities primarily for unconventional oil.
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Some of the key players in the Global Proppant Market are Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., and Fairmount Santrol Holdings Inc.
Scope of Global Proppant Market
Proppant Market by Type
• Resin Coated
Proppant Market by Application
• Shale Gas
• Tight Gas
• Coal Bed Methane
Proppant Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players in Global Proppant Market
• Superior Silica Sands LLC
• Bagder Mining Corporation
• Unimin Corporation
• U.S. Silica Holdings Inc.
• Preferred Sands
• Saint-Gobain Proppants Inc.
• CARBO Ceramics Inc.
• Fairmount Santrol Holdings Inc.
• Hi-Crush LP Partners
• Momentive Speciality Chemicals Inc.
• Borovichi Refractories Plant (Borprop)
• Mineracao Curimbaba Ltda.
• Yixing Orient Petroleum Proppant Co. Ltd
• China Gengsheng Minerals, Inc.
• Hexion Inc.