The leading players in the Proppants Market are Carbo Ceramics Inc. (US), COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co., Ltd. (China), Atlas Sand Company, Llc (US), and HEXION (US).
Northbrook, IL -- (SBWIRE) -- 08/23/2021 -- The report Proppants Market by Type(Frac Sand, Resin-Coated Proppant, Ceramic Proppant), Application (Shale Gas, Tight Gas, Coalbedmethane & Others) and Region - Global Forecast to 2025" The proppants market is estimated to be USD 7.8 billion in 2020 and is projected to reach USD 12.1 billion by 2025, at a CAGR of 9.1% between 2020 to 2025. The improvements in fracturing technology and new drilling techniques, increasing proppants consumption per well, innovation in proppants technologies and the growing natural gas demand to ensure energy security is driving the proppants market during the forecast period.
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Frac Sand is estimated to be the largest type in the proppants market.
Frac sand is a widely used proppant. It is a naturally occurring proppant made from high purity sandstone. These proppants are mostly applicable under closure pressure of 6,000 psi. US is the largest proppants market in the world and holds a significant share in the global market. In the US proppants market, frac sand is estimated to hold a major share, making frac sand to be the largest type in the proppants market.
Shale gas application holds the largest share in the proppants market
Shale gas is natural gas that is trapped in shale formations. Shales are fine-grained sedimentary rocks from which petroleum and natural gas are extracted. Hydraulic fracturing and horizontal drilling are used to extract shale gas from its reserves. The production of shale gas has rejuvenated the natural gas industry in the US and across the world. Proppant is widely used for the extraction of shale gas.
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North America accounted for the largest share in the global proppants market
North America is the largest consumer of proppants because of large shale gas, tight gas, and coal bed methane reserves in the region. The hydraulic fracturing market is mainly concentrated in the US, accounting for more than 85% of the overall North American market, which has resulted in high demand for proppants in the country. The US is currently the largest shale gas producing country worldwide with 862 Tcf shale gas reserves. The oil & gas industry makes up a significant part of the US economy, and around 90% of the oil & gas rigs in the country have used fracking. The efficiency in hydraulic fracking has led to the massive expansion of drilling, which helped the energy prices to be historically low.
The leading players in the market are Carbo Ceramics Inc. (US), COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co., Ltd. (China), Atlas Sand Company, Llc (US), and HEXION (US).
COVID-19 impact on the global proppants market
In 2020, the proppants market declined by 27% in terms of volume, which was due to the oil price crash triggered by the COVID-19 pandemic. The unprecedented demand shock in the oil industry in 2020 led to a historic drop in the oil prices, as governments around the world closed down businesses, issued stay-at home mandates, and restricted travel. Oil prices at the start of 2020 started strong, and by April, the impact of reduced economic activities around the world created an oversupply of oil in the international market, and oil prices plunged dramatically. Another factor that majorly contributed to the freefall of oil prices was the oil price war between Saudi Arabia and Russia, which was initiated at the start of March with both the countries failing to agree on the oil production levels. The Organization of the Petroleum Exporting Countries' (OPEC) failure to act swiftly to cut down oil production to mitigate the lower demand also made the oil prices reach their lowest levels in more than 20 years.
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