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The improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, innovation in proppants technologies and the growing natural gas demand to ensure energy security is driving the proppants market during the forecast period.
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[166 Pages Report] The proppants market is estimated to be USD 7.8 billion in 2020 and is projected to reach USD 12.1 billion by 2025, at a CAGR of 9.1% between 2020 to 2025. The improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, innovation in proppants technologies and the growing natural gas demand to ensure energy security is driving the proppants market during the forecast period. The improvement in the oil prices during the forecast period will also boost the demand of proppants between 2020 and 2025.
Proppants Market size is expected to grow from USD 7.8 billion in 2020 to USD 12.1 billion by 2025, at a CAGR of 9.1%
Dec 18, 2019 (The Expresswire) -- Proppants Market analyse the global Proppants market size (value & volume) by company, key regions, products and end...
North America Proppants Market by Type and Application, 2025
Proppant is a sand material, which helps to keep hydraulic fracturing open during hydraulic fracturing treatment. It is used to close the fractures in bore well process. It is used in well stimulation process, in extraction of oil and shale gas. Proppant provides high- conductivity for hydrocarbons to improve extraction of liquid, gas, or other substance in the bore well. There are different types of proppants used in hydraulic fractures. These include frac sand, resin coated, and ceramic.
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The North America proppant market growth is driven by the increase in production of oil and shale gas. In addition, rise in industrialization due to technological advancement across the globe also boosts the growth of this market. The increase in demand for vehicles is anticipated to increase the crude oil production, globally. This in turn is expected to positively affect the demand for proppants. The North America proppant market industry is growing due to use of proppant sand for hydraulic fracturing is extending across the North America region. Â However, growth of the North America proppant market is restrained by harmful effect of proppant pertaining to environment. The high cost of proppant restrains the growth of the proppant market. During hydraulic fracturing, there is significant amount of fluid leakage, which has adverse effect on environment and human health. This factor is expected to slow down the growth of the North America proppant market during the forecast period. Installing a new technology in the hydraulic fracturing is anticipated to provide healthy growth opportunities to the North America proppant market during the forecast period.
Some of the key players operating in the proppant market include US Silica, Carbo Ceramic, Hi Crush LP, Epic Ceramic Proppant Ltd, Badger Mining Corporation, Fairmount Santrol, Halliburton, Hexion, Preferred Sands LLC., and Schlumberger Limite.
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Global Fracking Proppants Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023
The global fracking proppants market was valued at USD 64.7 Billion in 2016, is expected to reach USD 146.9 Billion by 2023, growing at a CAGR of 12.4 % from 2017 to 2023. Major factor driving the growth of global fracking proppants market is the increase in global energy demand coupled with large recoverable reserves of shale gas in the Asia-Pacific region. The increasing consumption of fracking proppants per well to improve its productivity is anticipated to further drive the global fracking proppants market. Additionally, the shifting focus towards the production of unconventional gas further anticipated to drive the growth of fracking proppants market.
On the basis of product, frac sand held the major share of fracking proppants market and is expected to sustain its dominance, throughout the forecast period. Additionally, ceramic proppant is anticipated to be the fastest growing product of fracking proppants. On the basis of application, shale gas was the largest segment for the global fracking proppants market, in 2016.
Geographically, North America accounted for the major market share and is expected to hold the largest market share, during the forecast period. Furthermore, Asia-Pacific is expected to be the fastest growing region registering the highest growth, during the forecast period.
Proppants Market - Segmented By Material Type and Geography - Growth, Trends and Forecasts (2017 - 2022)
Proppants Market – Segmented By Material Type and Geography – Growth, Trends and Forecasts (2017 – 2022)
The Asia-Pacific proppants market is expected to see a healthy rise due to the presence of immense shale gas reserves and hydraulic fracturing projects in China and Australia. The future shale gas extraction projects in India also assure a promising market in this region. ACCESS FULL REPORT AND…
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The global proppants market was estimated at 47 million metric tons and worth about $ 8.4 billion in 2013. The market, driven by high crude oil prices and further improvements in fracturing technology, is expected to register a CAGR of 11%, to reach 87.1 million metric tons in 2019.
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Proppants are sand or other granular substances injected into the fractures to hold or open formation fractures created by hydraulic fracturing. Although proppants have been used in oil and gas production for 70 years, the recent emergence of horizontal drilling technology with multistage hydraulic fracturing in shale gas extraction has created new opportunities for growth in the mid-2000s. It shows a good performance in most conditions except in wells with high closure pressures.
