Global Proppant Market Insights, Leading Players and Future Analysis

by Vijay K. Web Marketing

Proppant refers to a solid material, primarily sand, which is used to keep open a hydraulic fracture during hydrofracking treatment. The material requires careful sorting according to its size and sphericity to optimize the productivity of an oil well. This solid material is available as ceramic, sand, and resin-coated material. Among the various types of proppants, sand has become the most popular, due to its escalating usage in the fracturing process by exploration and production (E&P) companies. At present, two types of sand are available for these companies— brown and white sand.

In recent years, there has been a considerable spike in fracturing activities, owing to the discovery of new reservoirs of shale gas. The surge in such activities has led to the high demand for frac sand, which is used to break pores in oil/gas reservoirs to create an opening for the shale gas to flow up to the surface. Thus, the discovery of new shale gas reservoirs will fuel the proppant market at 9.5% CAGR during forecast period. The market stood at $6,057.0 million in 2017 and it is expected to reach $10,562.9 million by 2023.

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In recent years, market players like Dow Chemical Company and Preferred Sands have amplified the production of an environment-friendly, non-phenolic resin-coated material, due to the increasing concerns regarding environmental degradation. Usage of phenolic-based resin-coated material leads to water contamination, owing to which the manufacturers have developed the new variant. The new material reduces the impact on environment and consumes less energy during its production. As the concerns for environmental degradation is increasing, the consumption of the eco-friendly proppant is also surging.

Thus, the discovery of new oil and gas wells will boost the sales of proppants in the coming years.