(2023-2028) Proppants Market Report, Growth Rate, Demand Analysis, Top Companies and Forecast

According to the latest report by IMARC Group, titled "Proppants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global proppants market size reached US$ 8.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

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Proppants Market Overview:

Proppants refer to solid, granular, and uniformly sized abrasive materials that are employed in hydraulic fracturing processes. They are available in different types, such as frac sand, ceramics, glass, sintered bauxite, polymers, and resin-coated proppants. The production of proppants involves various processes, including crushing, grinding, mixing, blending, drying, firing, coating, and sieving. They are cost-effective, conductive, and highly durable materials that can resist chemicals and extreme environmental conditions, such as high temperatures and pressures. They help in maximizing production, increasing access to underground reservoirs, and improving fluid flow rates. As a result, they are extensively utilized in the oil and gas industry as they are conductive and crush resistant.

Proppants Industry Growth Analysis:

Significant growth in the oil and gas industry is driving the global market. Furthermore, the increasing use of proppants in numerous industries, such as construction, foundry, and water treatment, is fuelling the growth of the market. Besides, the development of new and advanced proppants that can withstand even harsher environmental conditions, such as high temperatures and pressures, is creating a positive market outlook.

Additionally, the adoption of new technologies that improve the efficiency of the hydraulic fracturing process and increase the amount of oil and gas extracted from a single well is also contributing to the growth of the market. Moreover, rising initiatives by the government to promote the exploration of new oil and gas reserves to meet the rising energy demand is providing an impetus to the market.

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Key Market Segmentation:

Top Proppants Companies Worldwide:

• Carbo Ceramics Inc.
• Saint-Gobain Proppants Inc.
• U.S. Silica Holdings, Inc.
• 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.
• Eagle Materials Inc.

Breakup by Product Type:

• Resin Coated Sand
• Ceramic Proppants
• Frac Sand

Breakup by Application:

• Shale Gas
• Tight Gas
• Coal Bed Methane
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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This release was published on openPR.