Proppants Market Overview
Proppants are particles that are pumped into the oil wells to hold the fissures open so that the natural gas or oil can flow up the well. Proppants play an important role inrole in increasing the productivity of an oil well and reducing the drilling costs because of less bore holes and larger wells. The North American Proppants market is projected to grow and reach $12,224.18m by 2023.
Proppants Market Outlook
In the APAC region, the proppants market is expected to witness high growth owing to the presence of enormous shale gas reserves and hydraulic fracturing projects in China and Australia, coupled with potential shale gas extraction projects in India. The government of China has announced its plan to develop shale gas reserves as a part of its 12th five-year plan, which is expected to have a positive impact on the market.
Proppants Market Growth Drivers
Exploration of new shale gas reserves in the North American region is responsible for the increase in hydraulic fracturing activities. The increase in hydraulic fracking activities, primarily for unconventional oil in North America as well as developing nations of APAC, is responsible for the Proppants market growth.
Proppants Market Challenges
Environmental issues as a result of fracking, such as release of methane gas in the atmosphere, poses a challenge for the Proppants market. Methane as a greenhouse gas is even more potent than carbon dioxide and contributes a higher share to global warming. Moreover, due to the increase in crude oil supply and the declining prices, hydraulic fracturing techniques tend to be more expensive and less revenue generating. These factors might act as a hindrance to this market.
Proppants Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Proppants market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the products of the Proppants market and their specific applications.
Proppants Market Report: Industry Coverage
Product: Sand, Resin Coated, and Ceramic
Applications area of Proppants: Shale gas, tight oil, coal bed methane, and others
The Proppants report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Argentina, and others
- Europe: Ukraine, Russia, Poland, and others
- APAC: China, Australia, India, Rest of APAC
- Rest of the World: The Middle East and Africa
Proppants Market Key Players Perspective
U.S. Silica Holdings Inc., Covia Holdings Corporation, Hi Crush Partners LP, Emergency Energy Services LP, Preferred Sands LLC, Baker Hughes Inc., Carbo Ceramics, and Imerys are the major players in this market.
Proppants Market Trends
- The coming years will prove to be substantial for the Proppants market as new products are being extensively developed to scale down the costs. This will open up new frontiers for expansion.
- Major companies have been making continued investments in R&D and collaborations with research institutes for the development of new and innovative products, thereby leading to a changing patent scenario.