CHICAGO, March 9, 2021 /PRNewswire/ -- According to the
new market research report "Proppants Market by Type
(Frac Sand, Resin-Coated Proppant, Ceramic Proppant), Application
(Shale Gas, Tight Gas, Coalbedmethane & Others) and Region -
Global Forecast to 2025", published by
MarketsandMarkets™, 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.
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Browse in-depth TOC on "Proppants
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108 – Tables
51 – Figures
158 – Pages
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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.
Frac Sand is estimated to be the largest type in the
proppants market
Frac sand is a widely used proppant. It is a naturally occurring
proppant made from high purity sandstone. These proppants are
mostly applicable under closure pressure of 6,000 psi. US is the
largest proppants market in the world and holds a significant share
in the global market. In the US proppants market, frac sand is
estimated to hold a major share, making frac sand to be the largest
type in the proppants market.
Shale gas application holds the largest share in the
proppants market
Shale gas is natural gas that is trapped in shale formations.
Shales are fine-grained sedimentary rocks from which petroleum and
natural gas are extracted. Hydraulic fracturing and horizontal
drilling are used to extract shale gas from its reserves. The
production of shale gas has rejuvenated the natural gas industry in
the US and across the world. Proppant is widely used for the
extraction of shale gas.
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North America accounted for
the largest share in the global proppants market
North America is the largest
consumer of proppants because of large shale gas, tight gas, and
coal bed methane reserves in the region. The hydraulic fracturing
market is mainly concentrated in the US, accounting for more than
85% of the overall North American market, which has resulted in
high demand for proppants in the country. The US is currently the
largest shale gas producing country worldwide with 862 Tcf shale
gas reserves. The oil & gas industry makes up a significant
part of the US economy, and around 90% of the oil & gas rigs in
the country have used fracking. The efficiency in hydraulic
fracking has led to the massive expansion of drilling, which helped
the energy prices to be historically low.
The leading players in the market are Carbo Ceramics Inc. (US),
COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US),
Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co.,
Ltd. (China), Atlas Sand Company,
Llc (US), and HEXION (US).
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