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Proppants Market Trends

Report ID: GMI11676
Published Date: Oct 2024
Report Format: PDF

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Proppants Market Trends

The market is witnessing several key trends that are shaping its growth and development. Increased efficiency in hydraulic fracturing technology is driving demand for specialized proppants that offer higher strength and better conductivity. There is a growing preference for environmentally friendly proppants, such as those that minimize silica dust or use less water during the fracking process. The proppants industry is also seeing a trend towards the development of innovative proppants that enhance hydrocarbon recovery and reduce overall production costs. Additionally, geopolitical factors and energy policies are influencing the global supply chain and pricing strategies, as countries seek energy independence and more sustainable extraction practices. These trends are crucial in guiding market strategies and investment decisions in the proppants industry.

Authors: Kiran Pulidindi , Manish Dhiman

Frequently Asked Questions (FAQ) :

Market size for proppants was valued at approximately USD 8.5 billion in 2023 and is projected to grow at a 7.8% CAGR from 2024 to 2032, driven by the increasing development of unconventional oil and gas resources.

Shale gas application accounted for 39% of the market share in 2023 and is projected to grow through 2032, due to the increasing demand for natural gas as a cleaner alternative to coal and oil.

North America industry was worth USD 3.3 billion in 2023 and is expected to reach USD 6.7 billion by 2032, led by extensive hydraulic fracturing activities and substantial shale formations in the region.

Key players in the market include, Covia, Emerge Energy Services LP, Fairmount Santrol Holdings Inc., Hexion, Inc., Hi-Crush Inc., Momentive Specialty Chemicals Inc., and Saint-Gobain Proppants.