According to a report published by Grand View Research, Inc.; the global proppants market is anticipated to reach 96.03 million tons by 2020.
Soaring drilling and completion activities for shale can impel the market during the forecast period (2012 to 2020). Additionally, growth in number of technically recoverable reserve across the several regions in the world is also expected to boost the demand for proppants in the coming years.
Development of multiple stage fracturing and increasing implementation of hydraulic fracturing is expected to increase the consumption of proppants over the forecast period. Enhancements in hydraulic fracturing process by augmenting facture fracture flow capacity can have positive impact on the market. Additionally, introduction of ecofriendly non-phenolic resin coated proppants is also expected to create more opportunities in the years to come.
However, presence of strict government rules to reduce hydraulic fracturing technique is estimated to hamper the market growth. Use of this technique can cause hazardous environmental impact as well as groundwater pollution. Additionally, high cost involved in transportation of proppants is also expected to restrict the market growth.
Full Research Report On Proppants Market Analysis: www.grandviewresearch.com/industry-analysis/proppants-market
Worldwide proppants market can be segmented on the basis of product, application, and region.
Based on product, the market can be categorized into sand, resin coated, and ceramics.
The sand segment dominated the market and estimated for over 75% of market volume in 2013. The segment is expected to be dominant during the forecast period due to high availability and low cost of sand with compared to its counterparts.
The ceramic proppants segment is anticipated to grow significantly over the forecast period. Its augmented demand in shale extraction activity due to its associated properties such as crush resistance, conductivity high strength, and resulting is also expected to support the segment growth.
On the basis of application, the market can be split into shale gas, coal bed methane, tight gas, and others.
The shale gas segment was the leading segment in 2013. The segment is anticipated to display significant growth over the forecast period owing to large recoverable reserves in countries including the U.S., Argentina, Algeria, Mexico, Australia, and China. Rise in application scope of the product in extraction of shale gas due to its utilization in transportation and power generation is likely to drive the segment growth during the forecast period.
Geographically, the market can be divided into North America, Asia Pacific, Middle East and North Africa (MENA), and RoW.
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North America has been dominating the market and reported for over 75% of overall demand in 2013. The market is also expected to show significant growth during the forecast period. This growth can be credited to rise in shale gas production activities in the region, especially in the U.S. and Canada. Rise in number of horizontal wells in the region is also expected to drive the demand for proppants.
Asia Pacific is likely to display rapid growth with an estimated CAGR of over 12% during 2014 to 2020. Presence of favorable government policies related to development of shale gas reserves in countries such as India and China are expected to drive the regional growth. In addition, growth of hydraulic fracturing projects in Australia and China, and shale gas extraction projects in India will augment the proppants demand. In addition, presence of high potential reserves of Coal Bed Methane (CBM) in Australia and India are anticipated to increase demand for ceramic proppants.
The MENA region is anticipated to grow on account of rise in exploration of tight gas and shale gas reserves in countries including Kuwait, Algeria, and Saudi Arabia. Additionally, growth of hydraulic racking activities for unconventional oil is anticipated to increase demand for ceramic proppant.
Some of the leading companies operating in the proppants market include Borovichi Refractories Plant, Carbo Ceramics, Mineracao Curimbaba Ltd, Unimin Corporation, and Hi crush LP Partners.
Major companies are mainly concentrating on technological developments to manufacture eco-friendly proppants. The eco-friendly proppants can help to increase fracture flow capacity and improve hydrocarbon recovery.
Grand View Research has segmented the global proppants market on the basis of product, application and region:
Global Proppants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
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Sand
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Resin Coated
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Ceramics
Global Proppants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
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Shale Gas
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Tight Gas
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Coal Bed Methane
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Others
Global Proppants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
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North America
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Asia Pacific
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MENA
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RoW
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