The increasing use of ceramic and resin-coated proppants to enhance the productivity of wells and the growing demand for frac sand for the extraction of petroleum fluids are the key factors driving the Proppant Market growth. Proppant is a solid material, primarily sand, which is suspended in water or some other liquid to facilitate the opening of an induced hydraulic fracture.
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Of all types, sand material held the largest volume share, of more than 85.0%, in the proppant market in 2017. This can be attributed to its simple manufacturing process and large-scale use in the hydraulic fracturing for shale gas extraction. Besides, the material is widely used in the filtration of oil and the fracking process of liquefied natural gas (LNG).
Based on application, shale gas extraction was the largest application area of the material during the historical period. It held the largest value share, of more than 50.0%, in the proppant market in 2017.
Globally, in terms of volume, North America continues to hold the largest share in the proppant market. It contributed more than 70.0% share to the market in 2017. The growth of the market in the region is mainly driven by increased material loading levels and moderate recovery in oil prices.
The key trend witnessed in the proppant market in recent years is the increasing hydraulic fracturing activities in the North American region. With the exploration of new shale gas reserves in the region, there has been an increase in hydraulic fracturing activities.
Some of the key players operating in the global proppant market are Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., and Fairmount Santrol Holdings Inc.
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