Low strength Proppants Market Size, Share, Business Strategies, Regional Outlook, Challenges and Analysis Through 2030

The U.S. Energy Information Administration (EIA) estimated that the proven reserves of crude oil in the U.S. increased to 367 million barrels and the natural gas reserves in the country stood at 494.9 trillion cubic feet, in 2019. Furthermore, the proven reserves of natural gas from shale in the country surged from around 68% of the total reserves in 2018 to about 71% in 2019. Whereas, the proven crude oil reserves in Canada stands at 171.0 billion barrels.

The presence of extensive reserves of oil and gas in North America is resulting in increased exploration and production (E&P) activities in the region. As a result of the surging E&P activities, the low strength proppants market will advance at a CAGR of 9.8% during 2020–2030. According to P&S Intelligence, the market revenue will grow from $3,713.3 million in 2019 to $5,294.8 million by 2030. Both the U.S. and Canada have been using low strength proppants in conventional and non-conventional oil and gas wells to increase the flow of gas or oil during the hydraulic fracturing process.

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Additionally, the rising technological advancements in crude oil recovery processes will also fuel the consumption of low strength proppants, worldwide. Oil and gas companies across North America and Asia-Pacific (APAC) are making hefty investments in deploying advanced technologies for the exploration of new oil and gas reserves, to ensure early recovery processes and high business growth. Thus, the increased energy production through technologically advanced processes and products, especially in the U.S., will ramp up the consumption of low strength proppants.

Low strength proppants manufactured by Aequor Mgt LLC, Badger Mining Corporation, Covia Holdings Corporation, Wisconsin Proppants LLC, High Roller Group, Signal Peak Silica LLC, Carbo Ceramics Inc., Hi-Crush Inc., Black Mountain Sand LLC, U.S. Silica Holdings Inc., Atlas Sand Company LLC, Fairmount Santrol Holdings Inc., and others are used in crude oil, shale gas, and coal-bed methane reserves across the world. At present, the highest volume of low strength proppants is being consumed in crude oil reserves due to the presence of numerous oil wells in Russia, Saudi Arabia, the U.K., and the U.S.

Geographically, the North American region led the low strength proppants market in the preceding years, owing to the surging number of drilled wells and the increasing focus of oil and gas companies and governments on discovering new oil and gas reserves in the region. Moreover, the abundant availability of conventional and unconventional resources also fuels the production of low strength proppants in North America. Furthermore, the region is also expected to consume low strength proppants at the highest rate in the coming years, due to the increasing E&P activities.

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Thus, the rising E&P activities in North America and the surging technological advancements in crude oil recovery processes will fuel the consumption of low strength proppants in the foreseeable future.

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