Proppant Market expected to reach 9.87 billion USD by 2022
LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• The proppant market is projected to reach USD 9.87 billion by 2022, at a CAGR of 6.9% between 2017 and 2022.
• Proppant is a solid material that is used to keep fractures propped open, during or after a hydraulic fracturing treatment.
• It is majorly used in hydraulic fracturing of shale gas, tight gas, and cold bed methane.
• Increasing proppant consumption per well and improvements in fracturing technologies are the major factors expected to drive the proppant market.
• The frac sand proppant segment is estimated to be the largest segment of the market during the forecast period.
• The segment accounted for more than 60% of the total proppants produced, globally. It is a naturally occurring proppant made from high-purity sandstone
The proppant market is expected to grow at a CAGR of 6.9% during forecast period
The proppant market is projected to reach USD 9.87 billion by 2022, at a CAGR of 6.9% between 2017 and 2022. Proppant is a solid material that is used to keep fractures propped open, during or after a hydraulic fracturing treatment. It is majorly used in hydraulic fracturing of shale gas, tight gas, and cold bed methane. Increasing proppant consumption per well and improvements in fracturing technologies are the major factors expected to drive the proppant market. However, the high cost of ceramic proppant and oversupply of crude oil are considered can restrain the growth of the market.
Frac sand is estimated to be the largest type segment of the proppant market
The frac sand proppant segment is estimated to be the largest segment of the market during the forecast period. The segment accounted for more than 60% of the total proppants produced, globally. It is a naturally occurring proppant made from high-purity sandstone. It is mostly applicable under closure pressure of 6,000 psi. The consumption of frac sand proppant is witnessed significant growth in recent years, due to its easy availability and low cost.
Asia-Pacific estimated to be the fastest-growing market for proppant
Asia-Pacific is estimated to be the fastest-growing market for proppant, due to the rising demand from hydraulic fracturing application for exploration of unconventional natural oil and gas in the region. India is projected to be the fastest-growing market for proppant in Asia-Pacific, followed by China and Australia. China is the largest market for proppants in the region, owing to the high demand of natural oil and gas in the country.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
Companies profiled in this market research report include Carbo Ceramics Inc. (U.S.), Saint-Gobain Proppant Inc. (U.S.), JSC Borovichi Refractories Plant (Russia), Yixing Orient Petroleum Proppant Co., Ltd. (China), U.S. Silica Holdings Inc. (U.S.), Hexion Inc. (U.S.), China GengSheng Minerals, Inc. (China), Fairmount Santrol Holdings Inc. (U.S.), Hi-Crush Partners LP (U.S.), Superior Silica Sands LLC, and Minerao Curimbaba Ltda. (Brazil).
Research Coverage:
This research report categorizes the proppant market based on type and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the proppant market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, acquisitions, new product developments, and agreements associated with the market.
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