Proppants Market | Key players operating in the market include Carbo Ceramics Inc., COVIA, U.S. Silica Holdings Inc., Hi-Crush Inc., HEXION

The report Proppants Market is estimated to be USD 7.8 billion in 2020 and is projected to reach USD 12.1 billion by 2025, at a CAGR of 9.1% during the forecast period. The proppants market between 2020 and 2025 will be drive by The improvements in fracturing technology and new drilling techniques, increasing proppants conssumption per well, innovation in proppants technologies and the growing natural gas demand to ensure energy security.

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Frac sand is a naturally occurring proppant made from high purity sandstone. Frac sand has a round shape and is homogeneous in nature. There are three types of frac sand: Northern White Sand, Brown Sand, and In-Basin Sand. The increased demand for frac sand and resincoated proppants, along with the low-cost and abundant availability of frac sand with increasing new well drilling, is expected to drive the overall proppants market.

The domestic demand for natural gas will increase in major APAC economies due to the development of shale gas in the region. The extraction of shale gas is likely to enhance the region's energy security by allowing the countries to become less dependent on external sources. However, the development of shale gas is at the initial stage. Countries are extracting shale gas using advanced technology from their shale gas reserves, majorly driven by China and this trend makes APAC the fastest growing proppants market during the forecast period.

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The unprescedented demand shock in the oil industry in 2020 led to historic oil price drop as governments around the world closed down businesses and imposed restriction on travelling. This impacted the demand of proppants in 2020 and the market declined by 27% in terms of volume. The impact of reduced economic activities around the world created oversupply of oil in the international market and the oil price war between Saudi Arabia and Russia plunged the oil price dramatically.

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The leading players in the market are Carbo Ceramics Inc. (US), COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co., Ltd. (China), Atlas Sand Company, Llc (US), and HEXION (US).

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