Albany, NY -- (SBWIRE) -- 03/20/2017 -- Global Ceramic Proppants Market: Brief Description
For oil well-stimulation in the oil and gas industry, the technique of hydraulic fracturing is frequently used. In this process, the rocks are fractured using liquid, which is hydraulically pressurized and creates cracks in rocks to assure the free flow of petroleum, brine, and natural gas. However, to maintain the fracture in rocks wide open, proppants are used. Proppants enable the cracks in rocks to remain open and thereby assuring the free flow of oil and gas from it. This helps in increasing the productivity of natural oil and gas wells.
Ceramic proppants, silica proppants, and resin coated sand are three types of proppants currently available. Since the process of oil and gas extraction is rated among the most risky undertakings, players operating in the market consider several factors such as stress on proppants, formation permeability and conductivity to maximize the efficiency of their operations. Ceramic proppants are preferred over other alternatives as they are small in size and possess strength and conductivity. With the thriving oil and gas industry, the demand in the global market for ceramic proppants is projected to expand at a robust rate during the forecast period of 2017 to 2025.
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Global Ceramic Proppants Market: Trends and Prospects
Although sand-based proppants are the most common form of proppants used in the oil and industry as they are readily available at low cost, ceramic proppants demonstrate significantly higher strength as compared to other proppants. The report observes that uniform round share of ceramic proppants offer higher strength than silica proppants and resin-coated proppants, which makes the ideally suitable for the hydraulic fracturing of deep oil and gas spectrum. This is the primary factor driving the demand in the global market for ceramic proppants. Additionally, ceramic proppants are also used to enhance the conductivity of middle and deep oil wells.
The manufacturing process of ceramic proppants is environment-friendly, as it uses raw materials such as bauxite. As the concerns to preserve the nature escalates across the globe and several governments across the world offering incentives for the use of eco-friendly processes, exploration companies are increasingly using ceramic proppants.
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Global Ceramic Proppants Market: Geographical Evaluation
Geographically, the global market for ceramic proppants can be segmented into North America, Europe, Asia Pacific, and rest of the world. Currently, North America serves the maximum demand for ceramic proppants due to the increased demand coming from oil exploration companies. Continued high prices and recovery in natural gas prices would prolong the oilfield activity and eventually will act as a primary driver for ceramic proppants. The region of Asia Pacific is expected to show sturdy growth due to the slow increment in the oil and gas drilling operations. The Middle East countries, who have vast mining infrastructure, are actively investing in drilling multi-stage oil wells and exploring new regions to well for. As a result, the demand for ceramic proppants in this region is projected for a robust growth rate.
Some of the key players operating in the ceramic proppants market are Badger Mining Corporation, Fores LLC, Carbo Ceramics, JSC Borovichi Refractories Plant, Momentive Speciality Chemicals Inc., and Imerys S.A.
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