The proppant market is anticipated to record a CAGR of around 9% over the forecast period i.e. 2019-2027.
A recently published report by Research Nester on “Proppant Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the proppant market in terms of market segmentation by product type, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Based on product-type, the segment is divided into sand, resin coated & ceramic; by application into shale gas, tight gas, coal-bed methane, and others. The proppant market is anticipated to record a CAGR of around 9% over the forecast period i.e. 2019-2027.
The increasing application of proppant majorly in shale gas is one the key factors for driving the growth of the market across U.S. The growing demand for oil and gas as a form of energy is encouraging the drilling activities in different countries such as Saudi Arabia, UAE. Additionally, the ease of availability of sand at low cost is propelling its growth in the product type segment cross the globe. According to BP Stats, the oil production has seen considerable growth in North America and Middle East in 2018 and 2019, which is anticipated to foster the growth of the proppant demand during the forecast period.
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Based on region, proppant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is expected to showcase a dominating growth followed by the market in Asia Pacific. This growth can be attributed to increasing number of well drilling and matured wells in these regions. Additionally, Europe is also predicted to attain a considerable growth in the market owing to the high demand of proppant for extraction processes.
Application in Oil and Gas Extraction
Application of the proppant during oil and gas drilling out of hydraulic fractures are highly productive due to its properties of being resistant, high strength and conductivity. The rising drilling activities and growing projects in developing regions fostered by high oil demand across the globe is anticipated to foster the market growth of proppant at a high pace during the forecast period. Additionally, the rising shale gas excavation process in UAE and U.S. is anticipated to bolster the demand for proppant in the market of these countries.
However, contamination of underground water due to application of proppant during extraction is hampering the environment. Additionally, the rising health issues and lack of drinking water due to pollution occurring during the extraction by proppant is a key restraint to the growth of the market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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This report also provides the existing competitive scenario of some of the key players of the proppant market which includes company profiling of Superior Silica Sands LLC, Hi-Crush Partners LP, Fairmount Santrol Holdings Inc., Minerao Curimbaba Ltd., Fores Ltd., JSC Borovichi Refractories Plant, S. Silica Holdings Inc., Saint-Gobain Proppant Inc., Carbo Ceramics Inc., Badger Mining Corporation and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the proppant market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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