Frac Sand Market 2023 | Worth US$ 11.4 Billion by 2028 | Growth Rate (CAGR) of 8.24% | IMARC Group
The global frac sand market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.24% during 2023-2028.
Frac sand refers to a naturally occurring type of crystalline silica that is generally obtained from clear sandstone. It is a highly durable, strong and crush-resistant material that is utilized as a proppant in the hydraulic fracturing process, employed widely by gas and oil companies to extract natural gas and petroleum by drilling rock or land with a pressurized mixture. This pressurized mixture consists of frac sand, water, and numerous chemicals, which are pumped into the rock formations to open the fractures for the release of fluids, including oil, gas, and water. Besides this, it is also utilized in numerous industrial applications, including glassmaking and paints and coatings.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The growing oil and gas industry is driving the global market. Moreover, the rising demand for petroleum-based products and continual technological advancements in the process of natural gas and oil extractions are contributing to the market. Furthermore, increasing investments by leading players in research and development (R&D) activities to develop efficient and high-quality frac sand is catalyzing the product demand on the global level.
Along with this, the launch of fine mesh frac sand that improves the flow of natural fluids while they are released from the shale rocks is gaining widespread prominence. Other factors, including expanding the oil and gas sector, rising investments in crude oil production projects and increasing energy demand, are also influencing the global market.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
• CARBO Ceramics
• Emerge Energy Services
• Covia Holdings
• Hi Crush
• Source Energy Services
• U.S Silica
• Preferred Sands
• Badger Mining Corporation
• Mammoth Energy Service, Inc
• Smart Sand Inc.
• Chongqing Changjiang
Market Breakup by Type:
• White Sand
• Brown Sand
Market Breakup by Application:
• Oil Exploitation
• Natural Gas Exploration
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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