Global Proppant Market Size of $6,673.1 million in 2018

The proppant market is projected to become $11,919.3 million by 2024, at a CAGR of 10.4% during 2019–2024. Moreover, increasing demand for proppant and progressions in fracturing technologies are the major factors that are driving the growth of global proppant market.

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Increasing popularity of ceramic proppant such as crush resistance, high strength and conductivity are the major factors driving the growth of global proppant market over the estimated period. Moreover, introduction of various environment friendly non-phenolic resin coated proppants and enhancement in the process of hydraulic is upgrading flow capacity of fracture and further create ample opportunities for the proppant market to flourish across the globe.

These proppant can withstand high closure pressure due to complex molecular structure and high strength. Furthermore, it has a regular size that leads to improved sponginess and penetrability of proppant bed. Thereby it has been observed that the ceramic proppant is witnessing higher growth as compared to other types of proppants.

Asia-Pacific is expected to witness highest CAGR of during the forecast period 2019–2024 due to the existence of massive reserves of shale gas and hydraulic fracturing projects in countries such as China, India and Australia.

The key players operating in the global proppant market include Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., and Fairmount Santrol Holdings Inc.

Source: VynZ Research