DUBLIN, September 16, 2021--(BUSINESS WIRE)--The "Proppants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Proppants Market is expected to register a CAGR of over 5%, during the forecast period (2021-2026).
Badger Mining Corporation
CARBO Ceramics Inc.
China Ceramic Proppant (Guizhou) Ltd
Covia Holdings LLC.
Eagle Materials Inc.
Emerge Energy Services (Superior Silica Sands)
Epic Ceramic Proppants Inc.
General Electric (Baker Hughes Company)
Gongyi Yuanyang Ceramsite Co.,Ltd.
Henan Tianxiang New Materials Co., Ltd.
Preferred Sands LLC
Unimin Energy Solutions (Sibelco)
Key Market Trends
Frac Sand Segment Expected to Dominate the Market
Frac sand proppants are the most widely used category for hydraulic fracturing, in the market. Frac sand proppants are made out of highly pure and durable quartz sand with round grains.
They are majorly made out of sandstone. Their size ranges from about 0.1 millimeters in diameter, to 2 millimeters in diameter, depending on the requirement of the fracking job.
Owing to its efficiency, low cost, and availability, frac sand accounts for around 83% of the total proppants usage. Superior characteristics of high-quality frac sand such as high-purity silica sand, spherical shape that helps in enabling it to be further carried in hydraulic fracturing fluid with minimal turbulence and possess durability to resist crushing forces of closing fractures, enhances its usage as proppants and thus increases the market demand.
Raw frac sand is most widely used, due to its broad applicability in oil and natural gas wells, as well as its cost advantage relative to other proppants.
As per the statistics provided by the US Energy Information Administration (EIA), the natural gas production globally is expected to increase from 342 billion cubic feet per day in 2015 to 554 billion cubic feet per day (bcf/d) by the year 2040.
Canada has been producing shale gas since 2008, and the production is expected to increase and to account for 30% of Canada's total natural gas production by 2040.
United States to Dominate the Market in the North American Region
The United States is one of the leading countries, globally, in terms of the exploration of unconventional crude oil reserves and application of hydraulic fracturing for the same.
The quantity of oil produced from hydraulically fractured wells has been increasing significantly, in comparison to the oil produced from conventionally fractured wells.
With growing hydraulic fracturing applications in the country, especially for shale gas and tight oil purposes, the demand for proppants has been witnessing a positive impact.
Currently, about 95% of new wells drilled in the United States are hydraulically fractured, which accounts for two-third of the total marketed natural gas production in the country, and about half of the country's crude oil production.
According to U.S. Energy Information Administration, the number of natural gas and condensate producing wells in the United States in the year 2019 is approximated to around 491,205.
According to the US Energy Information Administration (EIA), the crude oil production reached 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d more than 2018 levels in United States. In the Offshore Federal Gulf of Mexico (the U.S. controlled waters in the Gulf of Mexico), new projects contributed to the region's growth in production in 2019. Oil and natural gas producers brought online seven new projects in 2019, with nine more projects being expected to come online by the end of 2020. However, the outbreak of the new coronavirus (COVID-19) has added a major layer of uncertainty to the oil market. In 2020, global oil demand is expected to contract for the first time since the global recession of 2009.
Moreover, according to the data given by the US Energy Information Administration (EIA), the shale gas production accounted for more than half of the US natural gas production, and it is expected to more than double from 37 bcf/d in 2015 to 79 bcf/d by the year 2040, which is around 70% of the total US natural gas production by 2040.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Improvements in Fracking Technology
4.1.2 Increasing Shale Gas Production Activities
4.2.1 Environmental Concerns and Legislation
4.2.2 Impact of COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.5 Price Analysis
5 MARKET SEGMENTATION
5.1 Product Type
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) / Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shifting Focus toward the Usage of Ceramic Proppants
For more information about this report visit https://www.researchandmarkets.com/r/sfidsf
View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005853/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900