NEW YORK, Aug. 29, 2018 (GLOBE NEWSWIRE) -- The global fracking proppants market is expected to witness a CAGR of 12.4%, and is projected to reach USD 146.9 Billion by 2023. Factors propelling the growth of fracking proppants market includes increasing demand for energy, increasing proppant consumption per well and shifting focus towards unconventional gas.
The report segments the fracking proppants market by Product (Frac Sand, Ceramic Proppants and Resin Coated Proppants), by Application (Shale Gas, Coal Bed Methane, Tight Gas, and Others), by Fracturing Technology (Natural Hydraulic Fracturing, Induced Hydraulic Fracturing and PLA (Polylactic Acid) Base Fiber Technology), by Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa (MEA)). The report studies the global fracking proppants market over the forecast period (2017-2023).
Fracking proppant is a solid material used to hold open cracks in the wellbore which are generated by the process of hydraulic fracturing, providing a conduit for hydrocarbons to access the wellbore. Hydraulic fracturing involves the usage of a fluid mixture consisting of one or more additives, typically water as a base fluid and a proppant such as sand. The mixture is pumped into a well under pressure with the help of pumps at the surface to induce fractures in the target zone or the geological formation. The fractures induced exposes more of the hydrocarbon bearing formation to the operator, and provide a conduit for hydrocarbons to flow to the wellbore. As a result, improved production of oil or natural gas is achieved. The parameters used in a given fracturing operation varies considering multiple factors, such as reservoir depth, temperature and multitude geological considerations. Before the emergence of hydraulic fracturing, it was extremely challenging to exploit subsurface rock units containing natural gas or oil specially in the shale rocks as it is impermeable in nature, inhibiting the natural flow of hydrocarbons into the wellbore.
Key Findings of the Global Medical Supplies Market Report
- On the basis of product, frac sand held the largest share of global fracking proppants market in 2016, and is expected to dominate the market throughout the forecast period. The easy availability and low cost are the factors driving the demand for the frac sand
- Ceramic proppants, product of fracking proppants is anticipated to be the fastest growing product of fracking proppants owing to its ability to recover hydrocarbon resources in extreme conditions
- On the basis of application, shale gas was holding the major share, in 2016 and is expected to maintain its position, during the forecast period
- North America was holding the major share for the production of proppants having a numerous deposits of silica sands in the U.S along with a well-established supply chain since hydraulic fracturing is prominently used in the region
- The key players in the fracking proppants market includes Carbo Ceramic, Fairmount Santrol, Momentive, Atlas Resin Proppants LP, Hi crush LP Partners, Saint-Gobain, Unimin Corporation, U.S. Silica, F. Fores, Baker Hughes, among others
Fracking Proppants– Ceramic Proppants Providing a Specialized Alternative to Frac Sand
Ceramic proppants being costlier than their naturally-made counterparts, offer advantages that make them the preferred choice in some settings, as they are capable of maximizing the yield from a given well. The advantages such as high crush strength up to 10,000 psi, high conductivity owing to improved uniformity in shape, size, and overall sphericity and tailored solutions by controlling its characteristics as per the well site requirements. The aforementioned advantages of ceramic proppants show a great potential in extreme condition wells and improving the well’s productivity.
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Fracking proppants- Regional Insight
North America was holding the major share of fracking proppants market in 2016 and is anticipated to dominate the market, over the forecast period owing to its high shale gas production and consumption, compared to other regions. Additionally, the geology of the region is more favorable compared to other regions and easy accessibility to the resources, attributed to the decades long conventional oil and gas exploration.
Asia-Pacific was holding the second largest share of global fracking proppant market in 2016 and is anticipated to grow at a significant rate during the forecast period. The growth of fracking proppants market in this region is attributed to huge unexplored shale gas reserves in China, Australia and India along with government policies favoring the growth of fracking proppants market in this region. The Governments of India and China have announced plans to develop their shale gas reserves, which is anticipated to have a positive impact on the fracking proppants market.
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