Proppants Global Market Report 2023: Increasing Demand for Natural Gases Fuels Growth

DUBLIN, April 6, 2023 /PRNewswire/ -- The "Proppants Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F Segmented By Type (Frac Sand, Resin Coated Frac Sand, Resin Coated Ceramic Proppants and High Strength Ceramic Proppants), By Application, By Region" report has been added to  ResearchAndMarkets.com's offering.

Global Proppants Market was valued at USD 7989.17 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.46%, owing to a rapidly increasing mining activities through hydraulic fracking.

Rising Mining Activities through Hydraulic Fracking to Drive Market Growth

The immediate impact causes cracks in the rock after fracking into the seabed. The liquid mixture of proppant, chemicals, and water is driven into a well to ensure the well's productivity for extended periods.

When a proppant mixture is forced into the wellbore at super high pressure, it fractures the shale and allows hydrocarbons to move out through the punctures and up to ground level. Approximately the conventional oil and gas wells require 136 tons of proppant; in coalbed fracture treatments, 34 to 145 tons of proppant is used, and shale gas wells can consume more than 1815 tons of proppant per well.

Briefly, every oil and gas field require ample proppant according to the size of the wells to extract petroleum and natural gases. Global oil production amounted to 89,877 thousand barrels per day in 2021, which is an upsurging trend after the pandemic's impact and is expected to rise in the future. Hence, growing extraction activities are expected to increase the demand for proppants in the forecast period.

Increasing Demand for Natural Gases is Helping in Driving Global Proppants Market

The energy security of a country is evaluated on the availability of hydrocarbons present in the country. Demand for natural gas is increasing day by day with the increase in technological advancements in fracking industry.

Hydraulic fracking is mainly used for the extraction of natural gases, hence, coal, oil, and gas storage and capacity plays an essential role in a nation's development. Such activities can lead to rise in the production of oil and natural gas and an increase in the demand for the proppants market globally as it is used in the extraction of resources from wells.

Rising Demand from Growing Economies

Growing demand for proppants in developing economies to use in their non-conventional drilling activities can fill the demand gap in the supply chain of proppants caused by the Russia Ukraine war. Countries like China, India, Brazil, and others have lucrative opportunities for a proppant market owing to the rising number of oil and natural gas wells and trade benefits.For instance, the production of natural gas from tight gas and shale gas, and others together accounted for 44% of domestic natural gas production in China in 2021. As emerging countries hold large population, the demand for proppant is expected to rise in the future.

Improvement in Fracturing Technology

Oil and natural gas were formerly obtained using conventional extraction methods. The rising implementation of unconventional oil and gas extraction methods that require advanced and lightweight proppants that facilitate resources to flow smoothly due to the depletion of these resources is creating lucrative opportunities. Modern ceramic proppants engineering plants make lightweight ceramic proppants using high-quality oxidized kaolin clay and modify them to be commercially feasible. In addition, producers are introducing new fracking methods like horizontal multistage fracturing. These strategies foster a positive perspective for the market because it is anticipated that it is going to gain traction in the coming future.

Report Scope:

In this report, Global Proppant Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Proppant Market, By Type:

• Frac Sand
• Resin Coated Frac Sand
• Resin Coated Ceramic Proppants
• High strength Ceramic Proppants

Proppant Market, By Application:

• Shale Gas
• Coalbed Methane
• Tight gas
• Tight Oil
• Deep Gas
• Others

Proppant Market, By Region:

• North America
• United States
• Canada
• Mexico
• Asia Pacific
• China
• Indonesia
• Malaysia
• India
• Vietnam
• Rest of Asia Pacific
• South America
• Argentina
• Chile
• Venezuela
• Bolivia
• Rest of South America
• Middle East & Africa
• Saudi Arabia
• UAE
• Oman
• South Africa
• Rest of Middle East & Africa
• Europe
• Russia
• Ukraine
• Denmark
• Hungary
• Poland
• Rest of Europe

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global Proppants Market

5. Impact of Russia-Ukraine War on Global Proppants Market

6. Voice of Customer

7. Global Proppants Market Outlook

8. North America Proppants Market Outlook

9. Asia Pacific Proppants Market Outlook

10. South America Proppants Market Outlook

11. Middle East & Africa Proppants Market Outlook

12. Europe Proppants Market Outlook

13. Pricing Analysis

14. PESTLE Analysis

15. Porters Five Forces Analysis

16. List of Proppants Supplier for Oil & Gas Industry

17. Market Dynamics

18. Market Trends & Developments

19. Competitive Landscape

20. Strategic Recommendations

A selection of companies mentioned in this report includes

• US Silica Holdings Inc.
• Compagnie de Saint-Gobain S.A
• Smart Sand Inc.
• Badger Mining Corporation
• Xinmi Wanli Industry Development Co., Ltd.
• Petro Welt Technologies AG
• Mineracao Curimbaba Ltda
• Vikas Proppants & Granite Limited
• Nika Petro Tech
• JSC Borovichi Refractories Plant.

For more information about this report visit https://www.researchandmarkets.com/r/k2u9e1

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