What is the global market size of Proppant Market?

Global Proppant Market size was valued at USD 8.5 billion in 2021 and is poised to grow from USD 9.2 billion in 2022 to USD 18.6 billion by 2030, growing at a CAGR of 9.1% in the forecast period (2023-2030).

Proppant Market Size, Share, Growth Analysis, By Product Type(Frac Sand, Resin-Coated Proppants, Ceramic Proppants), By Application(Shale Gas, Tight Gas, Coalbed Methane, Others (tight oil), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Proppant Market?

The Global Proppant market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Carbo Ceramics Inc. (US)', 'U.S. Silica Holdings Inc. (US)', 'Fairmount Santrol Holdings Inc. (US)', 'Hi-Crush Inc. (US)', 'Emerge Energy Services LP (US)', 'Badger Mining Corporation (US)', 'Saint-Gobain Proppants (US)', 'Preferred Sands (US)', 'China GengSheng Minerals, Inc. (China)', 'Hexion Inc. (US)', 'Momentive Specialty Chemicals Inc. (US)', 'JSC Borovichi Refractories Plant (Russia)', 'Fores Ltd. (UK)', 'Saint-Gobain (France)', 'Imerys S.A. (France)', 'Shale Support (US)', 'Source Energy Services Ltd. (Canada)', 'Mineração Curimbaba Ltda (Brazil)', 'Publi-Cast (Brazil)', 'Chongqing Changjiang River Moulding Material (Group) Co., Ltd. (China)'

Report ID: SQSG15A2008 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 66 | Figures: 75

Proppant Market Insights

Global Proppant Market size was valued at USD 8.5 billion in 2019 and is poised to grow from USD 9.2 billion in 2023 to USD 18.6 billion by 2031, growing at a CAGR of 9.1% in the forecast period (2024-2031).

During the hydraulic fracturing (fracking) procedure, proppants—rough, consistently sized materials—are used with fracturing fluid to keep open cracks created in the earth. Hydraulic fracturing, a technique used to boost the oil and gas output from oil and natural gas wells, has recently raised the need for proppants.

Rising demand for proppants throughout the oil and gas sector owing to its hydraulic fracturing is one of the main reasons promoting the market's growth. The oil and gas sector use hydraulic fracturing to improve the flow of oil or gas from the well. Fracturing fluid is poured into the oil well together with proppants (propping agents) to keep the fissures open and allow the crude oil or natural gas to flow up into the well.

US Proppant Market is poised to grow at a sustainable CAGR for the next forecast year.

Proppant Market Report Snapshots

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Proppant Market size was valued at USD 8.5 billion in 2019 and is poised to grow from USD 9.2 billion in 2023 to USD 18.6 billion by 2031, growing at a CAGR of 9.1% in the forecast period (2024-2031).

The Proppant market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Carbo Ceramics Inc. (US)', 'U.S. Silica Holdings Inc. (US)', 'Fairmount Santrol Holdings Inc. (US)', 'Hi-Crush Inc. (US)', 'Emerge Energy Services LP (US)', 'Badger Mining Corporation (US)', 'Saint-Gobain Proppants (US)', 'Preferred Sands (US)', 'China GengSheng Minerals, Inc. (China)', 'Hexion Inc. (US)', 'Momentive Specialty Chemicals Inc. (US)', 'JSC Borovichi Refractories Plant (Russia)', 'Fores Ltd. (UK)', 'Saint-Gobain (France)', 'Imerys S.A. (France)', 'Shale Support (US)', 'Source Energy Services Ltd. (Canada)', 'Mineração Curimbaba Ltda (Brazil)', 'Publi-Cast (Brazil)', 'Chongqing Changjiang River Moulding Material (Group) Co., Ltd. (China)'

The scenario for oil and gas production throughout the world has been fundamentally altered by the combination of horizontal drilling and multistage fracturing technology. More sand is being drilled and finished into horizontal wells by exploration and production firms, a trend that is expected to pick up speed over time. Due to longer laterals and higher loadings per lateral foot, the average sand consumption per horizontal well has quadrupled since 2013 and is still expected to rise. The rising demand for drilling proppants is the consequence of technologies being developed to promote the usage of natural sand/frac sand rather than ceramic sand.

The most popular type of hydraulic fracturing proppant on the market is frac sand. Round-grain quartz sand that is incredibly robust and pure is used to make frac sand proppants. Sandstone makes up most of them.

Proppant's highest market share is in Asia-Pacific, which is also projected to increase at the quickest rate over the projection period. Due to the region's shale gas production, major APAC economies will see an increase in domestic demand for natural gas. By lowering the region's dependency on outside sources, the extraction of shale gas is anticipated to increase energy security in the area. On the other hand, shale gas development is still in its infancy. During the projection period, shale gas output in China will rise as the nation tries to imitate the US shale gas boom. This would greatly increase proppant demand in APAC.

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Proppant Market Size, Share, Growth Analysis, By Product Type(Frac Sand, Resin-Coated Proppants, Ceramic Proppants), By Application(Shale Gas, Tight Gas, Coalbed Methane, Others (tight oil), By Region - Industry Forecast 2024-2031

Proppant Market Insights

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