The proppant market is projected to become $11,919.3 million by 2024, at a CAGR of 10.4% during 2019–2024. Proppant is extensively being utilized in cold bed methane and hydraulic fracturing of tight and shale gas. Moreover, increasing demand for proppant and progressions in fracturing technologies are the major factors that are driving the growth of global proppant market. Furthermore, with the development of multi-stage fracturing that is resulting into increasing number of stages in fracturing that is enhancing the utilization of proppant that is ultimately enhancing the demand for this market globally.

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Increasing popularity of ceramic proppant such as crush resistance, high strength and conductivity are the major factors driving the growth of global proppant market over the estimated period. Additionally, the increasing number of horizontal wells in North America is further accelerating the demand for proppant per well which is ultimately impacting the market growth of proppant in a positive manner. Moreover, introduction of various environment friendly non-phenolic resin coated proppants and enhancement in the process of hydraulic is upgrading flow capacity of fracture and further create ample opportunities for the proppant market to flourish across the globe.

Geographically, North America have been contributing largest revenue in the proppant market due to extensive drilling and completion events for shale plays observed in the countries such as the U.S. and Canada. Moreover, improved technology and efficiencies have further permitted completion activity to alter the breakeven costs in the favor of manufacturers in this region.

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The key players operating in the global proppant market include Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., and Fairmount Santrol Holdings Inc.

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