Proppants Market to Reach Valuation of USD 14.25 Billion by 2030 – Improvements in Fracturing Technology and New Drilling Techniques

In terms of revenue, the Global Proppants Market is expected to reach USD 14.2 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 8.8% from 2023 to 2030.

Global oil and gas production has been completely transformed by the combination of horizontal drilling and multi-stage fracturing technologies. Average sand consumption per horizontal well has tripled since 2013 and is expected to continue to increase. Demand for Proppants for drilling is high as technologies are developed to use natural/crushed sand instead of ceramic sand. is increasingly used in hydraulic fracturing, mainly to keep fractures open and impart high permeability that can stimulate growth. Various types of are available in the market namely ceramic supports, resin coated supports and frac sand. Fracking sand is made from high purity silica sand with durable spherical grains that impart energy and fracture resistance. Resin coated sand involves coating sand with resin to achieve clean surface, uniform shape and better strength. Proppants ceramics require controlled manufacturing to achieve extremely high strength and the most uniform shape for improved oil and gas exploration efficiency. The popularity of ceramic holders is increasing day by day in the expected period due to its excellent properties such as high strength, conductivity, compressive strength, etc. The number of horizontal wells and the growth in North America could lead to increased demand as expected leading by Proppants which will effectively impact on the growth of the market during the forecast period. Large shale deposits are poised and open for testing and the installation of new equipment and technology as the use of frac sand reduces raw material costs by more than 50%.

Key Highlights from the Report

· Primarily based totally on Type, the marketplace is segmented into Ceramic Proppants, Frac Sand, and Resin-Covered Proppants. The Frac Sand segment dominated the global market in 2021-22. Frac sand is used to extract oil and natural gas from tight shale formations. Frac sand is high-purity quartz sand containing durable and round grains. It offers crush resistance and is used in the hydraulic fracturing process to produce oil, natural gas, and natural gas liquids. Growth in oil and gas exploration and the integration of advanced technologies are expected to drive the growth of this segment.

· Based on Application, the market is segmented into Tight Gas, Shale Gas, Coal-Bed Methane, LNG, and Other Applications. The shale gas segment dominated the global market in recent years. High demand for extraction of shale gas resulting in the application of Proppants in diverse sectors to meet energy requirements, and also the presence of large reserves of unexplored shale gas further helps to grow the market. Growth in industrialization and technological improvements are a few elements predicted to gasoline the boom of this segment.

· North America dominated the global Proppants s market in 2021. Rising oil and gas exploration, growing demand for mineral exploration, and rising development of shale gas reserves support the growth of the Proppants s market in the U.S.

Market Dynamics

Impact of COVID-19 on the global Proppantss market

During covid-19, the Proppants s marketplace declined with the aid of using 27% in phrases of volume, due to the oil charge crash brought about with the aid of using the pandemic. Governments around the world have put restrictions and businesses around the world shut down the unprecedented demand shock in the oil industry in 2020 which led to a huge drop in oil prices. At the beginning of 2020, oil prices started strong and by April, the impact of reduced economic activities around the world created an oversupply of oil in the international market, and oil prices dropped dramatically. another important factor that hugely affected the oil prices is the oil prices war between Saudi Arabia and Russia, which started in the middle of march. The Organization of the Petroleum Exporting Countries (OPEC) failure to behave hastily to reduce down oil manufacturing to mitigate the decrease call for additionally made the oil costs attain their lowest stages in greater than 20 years.

North America dominated the global Proppantss market in 2022-21. Rising oil and gas exploration, growing demand for mineral exploration, and rising development of shale gas reserves support the growth of the Proppants s market in the U.S. Industrial growth, growth in hydraulic fracking, and increasing demand for oil recovery result in greater demand for Proppantss.

In the North America Region. Also Growing investments in research and development activities, Raising and expansion of international players in this region, and the most important technological advancements that are going on are some factors attributed to the growth of Proppantss in this region.

The Global Proppants Market is Segmented as follows

• Type
  • Frac Sand
  • Resin-coated Proppants
  • Ceramic Proppants
• Application
  • Shale Gas
  • Tight Gas
  • Coalbed Methane
  • Others (tight oil, deep gas and subsea hydrates)
• Ceramic Proppants
  • High Strength Ceramic Proppants
  • Intermediate Strength Ceramic Proppants
  • Light Weight Ceramic Proppants
  • Others (ultra-light weight propants, ultra-strenght Proppants, and ultra-conductive proppants)
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Proppants Market is

Carbo (U.S.), Saint-Gobain (Courbevoie), JSC Norovich Refractories Plant (Russia), Superior Silica Sands (U.S.), Fairmount Santrell (Chesterland), Badger Mining Corporation (Germany), RBN Energy (U.S.), Changing Proppant Corporation, Silica Company (Katy), Covian (Independence)

The Global Proppants Market Scope can be Tabulated as below