Proppant Market Growth Outlook, Opportunities and Forecast 2030
Reports And Data
increasing demand for ceramic and resin-coated proppant is drive global market revenue growth going ahead.
NEW YORK CITY, U.S., UNITED STATES, May 9, 2023 /EINPresswire.com/ -- The global proppant market size was significantly robust in 2021 and is expected to register a steady revenue CAGR over the forecast period.Steady market revenue growth can be attributed to key factors such as increasing proppant usage, proppant’s technological innovations, and rising natural gas demand to ensure energy security.
The demand for oil and natural gas in both established and emerging economies is one of the primary drivers of growth in the proppants sector. In the past, conventional extraction methods were used to extract oil and natural gas, but as these resources become scarce, unconventional methods that use proppants to ensure a steady flow of resources are becoming increasingly popular. Unconventional oil and gas sources such as shale oil and gas, tight oil and gas, and coalbed methane have grown in popularity due to the limited availability of conventional sources and their high carbon emissions. Manufacturers are also introducing new techniques like horizontal multistage fracturing, which is expected to gain traction in the upcoming years, leading to a better outlook for the market. Moreover, increased research and development (R&D) to produce lightweight proppant variations is aiding the expansion of the market. Overall, the global proppant market is expected to grow moderately in the next five years.
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Proppant Market Segments:
The global proppant market can be categorized based on type, application, ceramic proppants, and region. In terms of type, the market is segmented into frac sand, resin-coated proppants, and ceramic proppants. Frac sand is the most commonly used proppant in hydraulic fracturing, followed by resin-coated proppants. Ceramic proppants are expected to grow in demand over the forecast period due to their superior properties such as high strength and conductivity.
Based on application, the proppant market is categorized into shale gas, tight gas, coalbed methane, and others (tight oil, deep gas, and subsea hydrates). The shale gas segment is expected to lead the market in the forecast period due to the increasing demand for natural gas. Tight gas and coalbed methane segments are also expected to contribute to market growth.
Based on ceramic proppants, the market can be segmented into high strength ceramic proppants, intermediate strength ceramic proppants, lightweight ceramic proppants, and others (ultra-lightweight proppants, ultra-strength proppants, and ultra-conductive proppants). The lightweight ceramic proppants segment is expected to grow due to their low density, which enables them to be transported and pumped over long distances without breaking.
In terms of region, the proppant market is categorized into North America, Europe, Asia Pacific (APAC), Middle East & North Africa (MENA), and Rest of the World. North America is expected to dominate the market due to the increasing demand for oil and natural gas in the region, as well as the presence of large shale gas reserves. The APAC region is also expected to grow due to the increasing demand for oil and gas in emerging economies like China and India. The MENA region is also expected to contribute to market growth due to the presence of large oil and gas reserves in countries like Saudi Arabia and the UAE.
Proppant Market Strategic Developments:
The proppant market has witnessed several strategic developments by companies in recent years. Some of these developments include mergers and acquisitions, partnerships, and collaborations. For instance, in 2018, US Silica Holdings acquired EP Minerals, a global producer of engineered materials derived from industrial minerals, for $750 million. This acquisition enabled US Silica Holdings to strengthen its position in the proppant market by expanding its product portfolio and customer base.
Similarly, in 2019, Saint-Gobain Proppants, a leading proppant manufacturer, formed a strategic partnership with International Bestware Services Ltd. (IBS), a Chinese distributor of ceramic proppants. The partnership aimed to enhance Saint-Gobain Proppants' presence in the Chinese market by leveraging IBS's established distribution network.
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Proppant Market Competitive landscape:
The competitive landscape of the proppant market is explored in this study, with a focus on the leading players in the industry. The report provides profiles of major players, including Carbo Ceramics Inc., Saint-Gobain Proppants Inc., and U.S. Silica Holdings, Inc. Other prominent companies in the market include Borovichi Refractories Plant, Yixing Orient Petroleum Proppant Co., Ltd., Mineração Curimbaba Ltda., China GengSheng Minerals, Inc., Fairmount Santrol Holdings Inc., Superior Silica Sands LLC, Hi-Crush Inc., Hexion Inc., Unimin Corporation, Preferred Sands LLC, Fores Ltd., Badger Mining Corporation (BMC), Smart Sand Inc., Mississippi Sand LLC, ChangQing Proppant Corporation, Yangquan Changqing Petroleum Proppants Co., Ltd., and Eagle Materials Inc.
In order to expand their market footprint and revenue share, major corporations are pursuing various strategies, including mergers, acquisitions, partnerships, and new product development. These strategies help companies stay ahead of the competition. For example, some companies are forming strategic partnerships with other businesses in order to expand their product offerings and enter new markets. Other companies are investing in research and development to create new and innovative products that can meet the changing needs of the market. Mergers and acquisitions are also common strategies used by major corporations to consolidate their market position and gain a competitive advantage. These activities are expected to continue in the coming years, as companies strive to maintain their market share and grow their revenue.
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