Market Synopsis
According toMRFR analysis, the global Proppants Market size was valued at around USD
7.8billion in 2020 and is expected to reach over USD
16.7billion by the end of 2028at a CAGR of 8.8%.
The growing demand forproppants is attributed to their
continuous use across the oil and gas industryfor hydraulic fracturing. Proppantsare
used to remove hydrocarbons from reservoirs.The extraction of natural and shale
gas depends on the quality of the proppants that are used in the wells. Some of
the other factors favoring the market growth for the proppants are increasing
adoption of new fracking techniques such as horizontal multistage fracturing
and introduction of lightweight proppant variants is further expected tosurge
indemand for proppants across the globe.
SEGMENTATION
By Product Type
- Frac
Sand: The frac sand segment held the largest Proppants
Market share of over 50% in
2020 and is expected to dominate the market during the forecast
periodattributed to its high demand and consumption across the oil and gas
industries. These are used in the hydraulic fracturing process to
manufacture numerous petroleum fluids, including natural gas, natural gas
liquids, and oil from rock units which lack tolerable pore space for these
fluids to flow into the well.The demand for frac sand exploded in last
decade, as hydraulic fracturing became the standard method of producing
oil and gas from tight rock formations such as the Utica Shale and
Marcellus Shale of the Appalachian basin. Thus, these factors are expected
to attract major traction for the segment in the coming years.
- Resin-Coated
Proppants: Resin-coated proppants are used in wells having lower
closure stresses. Coating sand with resin is a method to strengthen and
control the fines. One of the fundamental challenges with resin-coated
proppants is the thermo-chemo-mechanical stability at high temperatures
and high pressure during the presence of fracturing fluid.
- Ceramic
Proppants: The ceramic proppants segment is expected to be the
fastest-growing segment attributable to the increasing demand for high
thermal and mechanical resistant materials in close wells. It has high
compression strength, which can reach up to 30,000psi, and has a high
conductivity, that significantly improves the production of oil & gas.
The primaryraw material of ceramic proppant is bauxite, which is sintered
through high temperature, thus providing a better spherical shape
Access full report @ https://www.marketresearchfuture.com/reports/proppants-market-10556
By Application
- Shale
Gas: This segment is expected to dominate the market throughout
the forecast period. The application of shale gas in various industrial
and residential sectors has increased its demand over the years, making it
one of the most dominant segments. These gases extracted through fracking
or hydraulic fracturing of sedimentary rocks are used as an energy source,
majorly in North America and Asia-Pacific.
- Tight
Gas: It is the fastest-growing segment owing to theincreasinguse
as a source of energy. Tight gas reservoirs are locked in extraordinarily
impermeable, hard rock, making the underground formation extremely tight.
They can also be trapped in sandstone or limestone formations which are
known as tight sand. Tight gas is an unconventional source of natural gas
as it requires a significant amount of hydraulic fracturingto access the
gas; this is because the low permeability of the rock, which means the
pores within the stone are poorly connected, makes it hard for the gas to
travel through them.
- Coal
Bed Methane: Coalbed Methane (CBM), an unconventional source of
natural gas, is now considered an alternative source for augmenting energy
sources. It is used across various sectors as an energy source such as
power generation, as a feedstock for manufacturing fertilizers and
plastics, and can be converted into hydrocarbons like diesel and gasoline,which
are commonly used as fuel for the automotive and transportation industry.
- Others: The
others segment include gas hydrates and conventional natural gases.
Pricing Analysis
In 2020, the proppants were priced around USD 0.68
to 1.27 per kg across the globe. In the same year, the price of
ceramic proppants varied from USD 1.02 to 1.24 per kg. The
proppants are expected to witness a gradual rise in the price with a range
from USD 0.74 to 1.42per kg by2028. This price change is
expected to be influenced by the availability and pricing of raw materials,
while the demand for proppants is expected to streamup during the forecast
period.
By Region
- North
America: The demand from shale gas sector drives market growth.
- Europe:
A well-established oil and gasproduction sector.
- Asia-Pacific:
The largest and fastest-growing regional market.
- Latin
America: Rapid natural gas-producingsitesis fueling the demand for
proppants in Latin America.
- Middle
East & Africa: Growing demand from the end-use industriesof oil
and gas and investment in the region's oil sectoris fueling the demand of
the proppants in the region.
Get Sample Report@ https://www.marketresearchfuture.com/sample_request/10556
Market Research
Future (MRFR) is a global market research company that takes pride in its
services, offering a complete and accurate analysis with regard to diverse
markets and consumers worldwide. MRFR’s approach combines the proprietary
information with various data sources to give an extensive understanding to the
client about the latest key developments, expected events and also about what
action to take based on these aspects.
Our fast growing
industry research firm is backed by a proficient team of research analysts that
offers valuable analytics and data with respect to technological and economical
advancements. Our deemed analysts perform industrial visits and procure the
relevant information from prominent market players. Our key objective is to
keep our clients abridged of the potential opportunities and challenges in
different markets. We provide step-by-step assistance to our respected clients,
via strategic and consulting services to reach a managerial and actionable decision.
Contact
Market Research Future
Maharashtra, India
+1 646 845 9312
No comments:
Post a Comment