The proppant market size is projected to reach USD 9.87 Billion by 2022, at a CAGR of 6.9% between 2017 and 2022. Proppant products find usage in hydraulic fracturing of unconventional gasses, such as shale gas, tight gas, and coal bed methane. Rising use of proppant in the oil and gas industry have led to an increased demand for proppant, globally.
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The report "Proppant Market by Type (Frac Sand Proppant, Resin-coated Proppant, Ceramic Proppant), and Region (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa) - Global Forecast to 2022", is projected to reach USD 9.87 Billion by 2022, at a CAGR of 6.9% between 2017 and 2022.
Browse 67 market data tables and 40 figures spread through 130 pages and in-depth TOC on "Proppant Market - Global Forecast to 2022"
The market is majorly driven by the increasing demand for proppant in hydraulic fracturing of shale gas, tight gas, and coal bed methane.
Based on type, ceramic proppant is estimated to be the fastest-growing segment of the proppant market
Ceramic proppant is estimated to be the fastest-growing type segment of the proppant market.
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It can withstand closure pressures up to 15,000 psi, owing to its high strength and complex molecular structure. In addition, it has a consistent size that results in improved porosity and permeability of proppant bed.
Hence, ceramic proppant is superior to other types of proppants.
Rising demand for proppant from Asia-Pacific is expected to be a key factor driving the growth of the global proppant market
Asia-Pacific is estimated to be the leading market for proppant. China is estimated to be the largest market and India is projected to be the fastest-growing market for proppant during the forecast period.
Australia is the other major country in the Asia-Pacific proppant market. These countries are expected to have large shale gas and coal bed methane reserves.
The increasing demand of proppant from the oil and gas industry for hydraulic fracturing application is expected to drive the proppant market in these countries.
Key companies profiled in the proppant market research report are 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 Mineração Curimbaba Ltda. (Brazil).
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