Global Proppants Market sales is growing at 10.5% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/14/2017 -- Zion Market Research has published a new report titled "Proppants (Ceramic, Sand and Resin Coated) Market for Shale Gas, Tight Gas, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014-2020." In terms of volume, the global proppants market stood at 45.0 million tons in 2014 and is expected to reach 90.0 million tons in 2020, growing at a CAGR of 10.5% between 2015 and 2020.
Proppant is a solid powder like material that aids to open the fractures in hydraulic fracturing treatment. Hydraulic fracturing is a stimulation technique in which proppant is injected as a fracking fluid to break the fractures to liberate the trapped gas deposits. Proppants are available in different shapes, sizes, density, and materials. Based on requirements appropriate proppants are utilized in fracturing treatment.
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The proppants market is mainly driven by strong demand from energy generation industry. Discovering new reserves of shale gas across the globe is another major factor that is expected to fuel the demand of proppants during the near future. However, the low market price of shale gas may hold back the demand of proppants in the hydraulic fracturing activity. Nonetheless, the advent of shale reserve in Asia Pacific region is expected to open new opportunities for the market growth in the near future.
Ceramic, sand, and resin coated are the key product segments of the global proppants market. In 2014, sand was the dominating product segment of proppants market. It accounted over 70% share of the total volume consumption due to easy availability and low cost. Moreover, resin coated is expected to experience immense growth owing to better performance and less expensive compared to other products. Ceramic is projected to have moderate growth during the estimated period due to its superior capabilities.
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Based on application segments, global proppants market is segmented into shale gas, tight gas and other. Among all, shale gas was leading application segment in 2014. This growth is attributed to huge utilization of shale gas in transportation and power generation industries. Tight gas is another important outlet that is expected to propel over the years to come.
With the largest share, North America was a leading regional market for proppants in 2014 and further expected to remain a major regional market for proppants due to growing drilling activities in the U.S and Canada. Asia Pacific is one of the fastest growing regions compared to other regions owing to the existence of huge shale gas reserves in India, Australia, and China. In addition, the Middle East & Africa is another promising market for proppants due to the advent of shale gas reserves in Saudi Arabia, Kuwait and Algeria country. Europe is expected to have a sluggish market for proppants during the years to come.
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Key players in the proppants market include U.S. Silica, Hi Crush LP Partners, Saint-Gobain, Carbo Ceramics and Unimin Corporation among others.
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