The proppant market is projected to become $11,919.3 million by 2024, at a CAGR of 10.4% during 2019–2024. Moreover, increasing demand for proppant and progressions in fracturing technologies are the major factors that are driving the growth of the global proppant market.

The increasing popularity of ceramic proppant such as crush resistance, high strength, and conductivity are the major factors driving the growth of the global proppant market over the estimated period.

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On the basis of type, the global proppant market is segmented into ceramic, resin-coated, and sand materials. Among all these segments, ceramic proppant type is expected to witness the fastest growth during the forecast period 2019–2024. Ceramic proppant is developed from magnesium silicate sintered, alumina, kaolin, and bauxite. This proppant can withstand high closure pressure due to complex molecular structure and high strength.

Based on application, the global proppant market is segmented into shale gas, tight gas, coal-bed methane, and others. Of all, shale gas extraction category captured the largest market share in 2018 due to the large-scale utilization of the material in shale gas extraction.

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The key payers in the market are upgrading their technology in order to develop environment-friendly proppants that enables increasing fracture flow capability and enhanced recovery of hydrocarbon. 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.

Application Insight and Forecast 2014 – 2024

Shale Gas
Tight Gas
Coal-Bed Methane
Others

Source: VynZ Research