What Kind of Growth Is Expected in The Proppant Market? (Global Forecast to 2022)


Posted September 21, 2018 by abhijeetw1

The proppant market size is projected to reach USD 9.87 Billion by 2022, at a CAGR of 6.9% between 2017 and 2022.

 
The proppant market is projected to reach USD 9.87 billion by 2022, at a CAGR of 6.9% between 2017 and 2022.Proppant is a treated sand or engineered ceramic material, which is used to keep fractures propped open after a fracturing treatment. Hence, it is called propping agent. It is majorly used in hydraulic fracturing of shale gas, tight gas, and coal bed methane. Different types of proppants, such as frac sand, resin-coated, and ceramic proppants have different mechanical strengths to withstand high closure pressures ranging from 6,000 psi to 20,000 psi.

Proppant is a solid material manufactured by processing of raw materials, such as silica sand, calcined bauxite, kaolin, and magnesium silicate. Key factors expected to drive the growth of the market include increasing consumption of proppant per well, innovation in proppant technologies, and improvement in the fracturing technologies.

Acquisition was a key strategy adopted by the major players to achieve growth in the proppant market between 2014 and 2017. Some of the major players in the proppant market include 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.), and Mineração Curimbaba Ltda. (Brazil). Besides acquisition, companies also adopted expansions, new product developments, and agreements as strategies to expand their product portfolio, strengthen their distribution network, and expand their customer base.


Key Target Audience:

Proppant Manufacturing Companies
Traders, Distributors, and Retailers
Raw material SUPPLIERS
Commercial R&D Institutes
Research Institute, Trade Association, and Government Agencies
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Carbo Ceramics used new product development and agreement as its major strategies to cater to the increasing demand for proppant products from its customers. In 2015, Carbo Ceramics introduced KRYPTOSPHERE LD, which is a lower density ceramic proppant with closure pressures ranging from 6,000 psi to 14,000 psi. This product enabled the company to make available the superior conductivity of KRYPTOSPHERE to a wider range of reservoirs. In the same year, Carbo Ceramics entered into a Letter Agreement with a frac sand supplier to purchase a minimum of 123,203 tons and 116,599 tons of frac sand in 2015 and 2016 respectively. This frac sand was used by the company’s Marshfield, Wisconsin plant.

Ceramic proppant is estimated to be the fastest-growing type segment of the proppant market. Ceramic proppant has high strength to withstand closure stresses up to 15,000 psi of wells. In addition, it has a consistent size that results in improved porosity and permeability of proppant bed.

Asia-Pacific is the fastest-growing market for proppant, followed by South America. The high demand for proppants in the Asia-Pacific region can be attributed to the rising oil and gas demand in the region. The proppant market in Asia-Pacific is projected to witness the highest growth during the forecast period, due to the rising government support to increase domestic natural gas production through exploration of large shale gas and coalbed methane reserves.

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Issued By marketsandmarkets
Country United States
Categories Business , Industry , Manufacturing
Tags proppant market , proppant
Last Updated September 21, 2018