Press release
Global Proppant Market Set to Reach USD 17.35 Billion by 2032 Amidst Rising Hydraulic Fracturing Activities
The global proppant market is on a trajectory of robust growth, driven by escalating hydraulic fracturing operations and technological advancements in oil and gas extraction. According to recent analyses, the market, valued at USD 10.17 billion in 2024, is projected to reach approximately USD 17.35 billion by 2032, expanding at a compound annual growth rate (CAGR) of 6.9% during the forecast period.
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► Proppant Market Dynamics and Regional Demand
The surge in horizontal drilling and multistage fracturing technologies has revolutionized oil and gas production, leading to increased consumption of proppants, particularly frac sand. Notably, the Asia Pacific region has emerged as a significant consumer, accounting for a substantial market share in 2021. This trend is expected to continue, driven by heightened hydraulic fracturing activities in countries like China and India.
◙ Proppant MarketCompetitive Landscape
The proppant market is characterized by the presence of key players striving to enhance their market positions through strategic initiatives. Prominent companies include CARBO Ceramics Inc., U.S. Silica Holdings Inc., Hi-Crush Inc., Covia Holdings LLC, and Hexion Inc.
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► Proppant Market Country-Specific Insights
Vietnam: Emerging Opportunities in Unconventional Resources
Vietnam is exploring its unconventional oil and gas reserves, presenting opportunities for proppant suppliers. The government's focus on energy self-sufficiency is expected to drive hydraulic fracturing activities, necessitating the use of proppants.
Thailand: Advancements in Hydraulic Fracturing Techniques
Thailand's oil and gas sector is adopting advanced hydraulic fracturing techniques to enhance production from mature fields. This technological shift is anticipated to increase the demand for high-quality proppants.
Japan: Trends in Energy Diversification
Japan's emphasis on diversifying its energy portfolio includes investments in unconventional gas resources. While still in nascent stages, this initiative may lead to a gradual uptick in proppant consumption.
South Korea: Consolidation in Oilfield Services
South Korea is witnessing consolidation in its oilfield services sector, with companies aiming to offer comprehensive solutions, including proppant supply, to optimize hydraulic fracturing operations.
Singapore: Updates on Regional Proppant Distribution
As a strategic logistics hub, Singapore is enhancing its capabilities in the distribution of proppants across the Asia Pacific region, ensuring timely supply to meet growing demand.
United States: Growth in Shale Gas Exploration
The U.S. continues to lead in shale gas exploration, with sustained investments in hydraulic fracturing. This ongoing activity reinforces the country's position as a major consumer of proppants.
China: Opportunities in Unconventional Resource Development
China's aggressive pursuit of unconventional resource development, particularly in shale formations, is creating significant opportunities for proppant manufacturers and suppliers.
Europe: Trends in Sustainable Fracturing Practices
European countries are increasingly focusing on sustainable fracturing practices, driving demand for environmentally friendly proppants and innovative fracturing technologies.
Proppant MarketRecent Developments and Mergers & Acquisitions
The proppant industry has seen notable mergers and acquisitions aimed at strengthening market positions and expanding product portfolios. For instance, Covia Holdings LLC merged with Unimin Corporation to enhance their proppant offerings. Additionally, U.S. Silica Holdings Inc. acquired EP Minerals to diversify its industrial minerals portfolio.
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◄ Proppant Market Classifications
by Type
Frac Sand
Resin Coated Proppant
Ceramic Proppant
by Application
Shale Gas
Tight Gas
Coalbedmethane
Others
by Ceramic Proppant
High Strength Ceramic Proppant
Intremediate Strength Ceramic Proppants
Light Weight Ceramic Proppant
Others
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-proppant-market/14899/
◙ The following companies are included in the market for Proppant :
1. Superior Silica Sands LLC
2. Bagder Mining Corporation
3. Unimin Corporation
4. U.S. Silica Holdings Inc.
5. Fores
6. Preferred Sands
7. Saint-Gobain Proppants Inc.
8. CARBO Ceramics Inc.
9. Fairmount Santrol Holdings Inc.
10. Hi-Crush LP Partners
11. Momentive
12. Saint-Gobain
13. Momentive Speciality Chemicals Inc.
14. Borovichi Refractories Plant
15. Mineracao Curimbaba Ltda.
16. Yixing Orient Petroleum Proppant Co. Ltd
17. China Gengsheng Minerals, Inc.
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