NEW YORK, May 28, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, Proppant market is projected to reach $10,562.9 million by 2023, the increasing use of ceramic and resin-coated proppants to enhance the productivity of wells and the growing demand for frac sand for the extraction of petroleum fluids are the key factors driving the market growth. Proppant is a solid material, primarily sand, which is suspended in water or some other liquid to facilitate the opening of an induced hydraulic fracture.
Request for Sample Pages: https://www.psmarketresearch.com/market-analy...ort-sample
Of all types, sand material held the largest volume share, of more than 85.0%, in the proppant market in 2017. This can be attributed to its simple manufacturing process and large-scale use in the hydraulic fracturing for shale gas extraction. Besides, the material is widely used in the filtration of oil and the fracking process of liquefied natural gas (LNG).
Based on application, shale gas extraction was the largest application area of the material during the historical period. It held the largest value share, of more than 50.0%, in the proppant market in 2017. This can be attributed to the fact that these materials are widely used for hydraulic fracturing during shale gas extraction. Besides, there has been a significant increase in the production of shale gas in North America for commercial use.
Globally, in terms of volume, North America continues to hold the largest share in the proppant market. It contributed more than 70.0% share to the market in 2017. The growth of the market in the region is mainly driven by increased material loading levels and moderate recovery in oil prices. In addition, longer laterals are being utilized to boost natural gas production in region, which, in turn, requires the use of the sand material for fracturing purposes.
Browse Full Report with detailed TOC on “Proppant Market” at: https://www.psmarketresearch.com/market-analy...ant-market
The key trend witnessed in the proppant market in recent years is the increasing hydraulic fracturing activities in the North American region. With the exploration of new shale gas reserves in the region, there has been an increase in hydraulic fracturing activities. According to the Railroad Commission of Texas (RRC), 2,712 wells were completed during January–March in 2018, as against 1,925 wells completed during the same period in 2017. This can be attributed to the use of these materials for fracturing purposes.
Some of the key players operating in the global proppant market are Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., and Fairmount Santrol Holdings Inc.
Browse Other Published Reports by P&S Market Research
Ammonium Phosphate Market
As per the findings of research, the fertilizer industry has been globally the largest applications segment of the ammonium phosphate market. Flame retardant is expected to be the fastest growing application segment in the global market for ammonium phosphate during the forecast period.
https://www.psmarketresearch.com/market-analy...ate-market
Printing Inks Market
North America was the largest market for printing inks market, where the U.S. was the largest contributor to the regional market. China was the major market in Asia-Pacific, whereas in Europe, Germany generated the highest revenue. Additionally, Turkey was the largest market in the Middle East and Africa, while in Latin America, Brazil emanated the maximum demand.
https://www.psmarketresearch.com/market-analy...ink-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact: P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
