Proppants Market is Forecasted to Reach US$ 13.1 Billion in 2028, Says Stratview Research

The global proppants market is projected to witness a growth rate of 8.5% annually from 2023 to 2028, with an anticipated size of US$ 13.1 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global proppants market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 13.1 billion
Growth (CAGR): 8.5% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Proppants Market:

The global proppants market is segmented based on type, application type, and region.

Based on type - The proppant market is segmented into Frac Sand, Resin-Coated Proppant, and Ceramic Proppant. A common proppant is frac sand. It is a naturally occurring proppant crafted from sandstone of the highest quality. Most of these proppants can be used with a 6,000-psi closure pressure. Frac sand has a substantial market share and is frequently chosen as a proppant when oil prices are falling and E&P companies need to cut production costs. During the forecast period, the frac sand market is anticipated to be driven by rising US shale gas production as well as the creation of new shale gas basins around the globe.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3498/proppants-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for proppants during the forecast period. This growth outlook is majorly attributed to the following-

• The development of shale gas in the area will enhance domestic demand for natural gas in major APAC nations. By reducing the countries' reliance on outside resources, the mining of shale gas is projected to improve the region's energy security. Shale gas development is still in its early stages, though. China is the main force behind countries employing cutting-edge technologies to extract shale gas from their reserves.
• Shale gas extraction is riskier and more expensive than producing conventional gas. The extraction procedure is expected to be efficient, economical, and socially responsible. The region that produces the most coalbed methane worldwide is the Asia-Pacific. High coalbed methane reserves can be found, among other nations in the region, in China, India, Australia, Japan, and Indonesia. The region's low conventional natural gas deposits and high natural gas prices on the global market stimulate the development of coalbed methane. Due to the greatest coalbed methane deposits in the world, Australia is the leading nation in the area in terms of high commercial coalbed methane production. Additionally, these nations have large shale gas deposits.

Proppants Market Drivers:

Some of the key drivers listed in the report are given below.
Increased Shale Gas Exploration: The rising demand for shale gas and tight oil, particularly in North America, is driving the use of proppants. Hydraulic fracturing, a key technique in shale production, relies on proppants to keep the fractures open and maintain optimal extraction flow rates.

Shift to Ceramic and Resin-Coated Proppants: While sand remains the most commonly used proppant due to its cost-effectiveness, there is a growing preference for ceramic and resin-coated proppants in high-pressure and high-temperature wells due to their superior performance in extreme conditions.

Technological Advancements in Fracking: Ongoing innovations in hydraulic fracturing technologies are leading to greater efficiency in proppant use. This includes optimizing the size, shape, and material of proppants to enhance recovery rates while minimizing costs.

Environmental and Regulatory Challenges: Increasing regulations concerning environmental impact, particularly water use and contamination in hydraulic fracturing, have led to the development of more sustainable proppant solutions. The shift towards eco-friendly proppants, such as non-toxic, biodegradable options, is gaining traction.

Top Companies in the Proppants Market:
Stratview Research has identified the following companies as the top market players.
• Atlas Sand Company, LLC (US)
• Carbo Ceramics Inc. (US)
• COVIA (US, JSC Borovichi Refractories Plant (Russia)
• HEXION (US)
• Hi-Crush Inc. (US)
• Mineração Curimbaba (Brazil)
• U.S. Silica Holdings Inc. (US)
• Xinmi Wanli Industry Development Co., Ltd. (China)

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Proppants Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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• Fracking Fluid End Market: https://www.stratviewresearch.com/826/fracking-fluid-end-market.html

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