Frac Sand Market to See High Growth in Upcoming Year by 2029, Fortune Business Insights

The global frac sand market size is expected to gain momentum owing to the growing oil and gas exploration activities during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, "Frac Sand Market, 2022-2029." Rising oil and gas extraction operations, as well as the growth and expansion of the oil and gas drilling sector, are significant factors driving the market. The development of additional shale deposits will boost the expansion of the business even more. Increased competition for petroleum-based products, along with technical improvements in the production of oil and gas, will drive higher prices. The hydraulic fracking of methane hydrate will open up even more attractive and profitable potential growth for the market.

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COVID-19 Impact-

Supply Chain Disruption to Hamper Growth

The COVID-19 epidemic in China has expanded to the main APAC, European, and North American countries, impacting the market for washed silica sand because the majority of global firms have their headquarters in these regions. The impact of COVID-19 created disruption in the supply chain, slowing market growth due to a scarcity of raw materials and the unavailability of workers.

Segments-

By type, the market is segmented into white sand, brown sand, and others. On the basis of application, the market is segregated into oil and gas exploration, natural gas exploration, and others. By geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

What does the Report Offer?

The region's major countries have been plotted based on their individual revenue contributions to the regional market. The report explains the major drivers, constraints, and market opportunities, as well as their comprehensive impact analysis. The market study provides detailed information on the worldwide frac sand industry participants' market share.

Drivers & Restraints-

Increasing Demand in Oil & Gas Industry to Stimulate Growth

During the projected period, the worldwide frac sand market growth is expected to grow due to the proper infrastructure. The major element driving worldwide market expansion is a booming petroleum & energy industry. The demand is increasing as the quantity of oil and gas exploration operations increases throughout the world. The oil and gas industry widelt uses the method of hydraulic fracturing. to fulfill the constantly rising need for petroleum and oil and gas globally. As a result, the demand is growing since it is essential to the operation; with thousands of tons of frac sand required every hydraulic fracturing procedure. Furthermore, the development of fine-mesh, which improves the flow of natural fluids when released from shale, is accelerating market expansion.

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List of Key Players Profiled in the Global Market for Frac Sand:

Unimin Corporation
Preferred Sands
Source Energy Services
Fairmount Santrol
Carbo Ceramics
Badger Mining Corporation
S. Silica Holdings
Hi-Crush Inc.
REGIONAL INSIGHTS

Increasing Natural Gas Activities to Promote Growth in North America

North America is expected to hold the largest global frac sand market share during the forecast period. The United States is the region's largest donor. Rising demand for silica sand as a prominent proppant material in hydraulic fracturing is a significant driver driving market expansion in this area. Increased spending on research and development to offer high-quality is another element boosting the region's market growth rate.

Europe is expected to have a sizable share of the market. This is due to the growing adoption of hydraulic fracturing techniques in the region.

Competitive Landscape-

Increasing Number of Mergers to Create Lucrative Opportunities

The study provides a thorough analysis of the following main companies in the worldwide market, including their competitive landscape, capacity, and most recent events such as mergers, acquisitions, and financing. The study was carried out utilizing an objective combination of primary and secondary data and feedback from important industry participants. The study includes a detailed market and vendor landscape as well as an analysis of the main vendors.

Industry Development-

October 2019: BMC, a family-owned industrial sand provider since 1949, is delighted to announce the signing of a new exclusive terminal agreement with Di-Corp Sand Transloading (DST) for the use of DST's transload facility in Rocky Mountain House, Alberta, and Canada. With this step, BMC demonstrates its commitment to providing best-in-class service delivery and frac sand storage in the industry.
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This release was published on openPR.