The Proppant Market is expected to grow from USD 7.06 billion in 2017 to USD 9.87 billion by 2023, at a CAGR of 6.9% from 2017 and 2022. Proppant is used during or after the hydraulic fracturing treatment, to keep the fractures open. It finds the majority of its consumption in the hydraulic fracturing of natural gases such as shale gas, tight gas, and coal bed methane. Increasing demand for natural gas is expected to drive the global proppant market during the forecast period. The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2023.

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Market Dynamics
Drivers

Improvements in fracturing technology and new drilling techniques
Increasing proppant consumption per well
Innovation in proppant technologies is driving its demand for well drilling
Growing demand for frac sand proppant
Increasing demand for ceramic and resin-coated proppants to improve well economics
Restraints

The high cost of ceramic proppant
Oversupply of crude oil
Opportunities

Unconventional oil and gas reserves
Challenges

Water availability and contamination concerns
The proppant market comprises a network of players involved in the research and product development; raw material supply; proppant manufacturing; distribution and sale; and post-sales services. Key players considered in the analysis of the proppant market 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.), and Mineração Curimbaba Ltda. (Brazil).

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