Global Proppants Market is projected to grow at a CAGR of 5.0% By 2032: Visiongain Research Inc
January 24, 2022 11:43 ET --
Visiongain has published a new report entitled the Proppants Market Report 2022-2032. It includes profiles of Proppants and Forecasts Market Segment by Material (Sand, Ceramic, Sintered Bauxite) Market Segment by Application (Shale Gas, Tight Gas, Coalbed Methane, Subsea Hydrates, Others (tight oil, deep gas and )) Market Segment by Type (Frac Sand Proppants, Lightweight Proppants, Resin-coated sand (RCS), Ceramic Proppants, Multifunctional Proppants, Non-Spherical Proppants) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global proppants market was valued at US$8295 million in 2021 and is projected to grow at a CAGR of 5% during the forecast period 2022-2032.
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Directional Drilling and Hydraulic Stimulation Technology Have Been the Main Drivers for Recovery of Unconventional Energy Resources
Directional drilling and hydraulic stimulation techniques have been the driving forces behind the recovery of unconventional energy resources including shale gas, tight sands gas, and coal bed methane. Natural gas is trapped in fine, isolated porosity and adsorbed onto the shale's other organic elements. Because of the shale's somewhat impermeable character, more surface area must be created in order to recover trapped natural gas in commercially acceptable volumes. Directional drilling allows high recovery rates from intersecting cracks in the shale, whereas hydraulic stimulation fractures the shale to provide the large surface area necessary for gas retrieval. Hydraulic stimulation, often known as "hydrofracturing" in the industry, is a crucial method for developing and maintaining high-permeability channels for resource recovery throughout the well's life. This is generally accomplished by injecting a slurry of surfactants, corrosives, and aggregates into the well bore under pressure to induce and sustain fractures. After the stimulation pressure is removed, the aggregates are pinned by closure forces, which "prop" the crack open and provide a permeable conduit for oil and gas to travel to the well bore for extraction. As a result, the aggregates are usually referred to as "proppants" in the industry.
How has COVID-19 had a significant negative impact on the Proppants Market?
The combination of the Coronavirus (COVID-19) and the oil price shock is particularly damaging to oil-exporting developing countries at a time when the fossil fuel industry is experiencing structural collapse. Although some countries may be able to weather the current crisis thanks to sovereign wealth funds or relatively low levels of public debt, this will not be the case for the majority of fragile oil-exporting countries, many of which are resource dependent and were already dealing with high levels of debt and multifaceted economic and social fragility prior to the current crisis. As a result of the current turmoil, some countries may find themselves in a spiral of unsustainable borrowing, as oil-exporting developing countries have increased their reliance on short-term and expensive non-concessional private borrowing in recent years, a significant portion of which is backed by oil collateral. To create fiscal space in oil-exporting developing countries, reduce the risks of unsustainable debt, corruption, and illicit financial flows (IFFs), and catalyze a transition to a cleaner and more sustainable future, a timely and coherent response involving both concessional lenders and private financiers is required.
How this Report Will Benefit you?
Visiongain’s 791+ page report provides 510 tables and 507 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global proppants market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Proppants. Get the financial analysis of the overall market and different segments including type, material, application and capture higher market share. We believe that high opportunity remains in this fast-growing proppants market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
The Resin-Coated Proppants Gaining Traction
Oil well productivity has been found to be increased by resin-coated proppants. To fulfil the need for oil and gas, a rise in oil well activity is expected, as stated in the United Nations' Sustainable Development Goals (SDGs) (UN). This will necessitate increased activity efficiency, necessitating the increased usage of resin-coated proppants. Resin-coated proppants will be used more often, according to proppants suppliers. Tempered sand, curable sand, and ceramic man-made sand are among resin-coated fracking proppants, which have been produced to fulfil a stringent set of requirements. The sands are coated under stringent quality-control conditions and are manufactured to have the least amount of crush and the highest conductivity while allowing for high output. Certain sands function better under different settings because to the particular nature of shale reservoirs. It's critical for businesses to use measures that are properly customised to their location to avoid flowback before it starts. Resin-coated sands come in a variety of strengths, weights, conductivities, and price points.
Ceramic Proppants to Observe Demand Influx for High-Pressure Operations
Deep and high-pressure oil wells in Texas, Los Angeles, Saudi Arabia, and Nigeria usually demand for heavy-weight ceramics with a high alumina or bauxite content. Ceramic proppants, in contrast to others, have a stronger molecular structure. They also have a uniform size and spherical shape, as well as a stronger crush strength than others. The market for ceramic proppants is expected to be driven by exploration efforts in deep, high-temperature, and high-pressure oil wells.
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Where are the market opportunities?
Exploration of unconventional oil and gas reserves increasing
One of the most active fields of the geological sciences is hydrocarbon exploration. Petroleum geologists tasked with finding oil and natural gas confront a challenging task: oil and gas reserves are difficult to locate, and drilling in the incorrect location loses time and resources. Furthermore, traditional oil supply has reached its limit, while demand for liquid fuels continues to rise. To solve the oil supply and demand dilemma, one method is to look for new, unconventional oil sources. Unconventional oil is defined differently by different people, although it commonly refers to oil shale, oil sands, ultra-deepwater oil, extremely heavy oil, tight oil, and Arctic oil. Unconventional oils are heavier and contain more carbon and sulphur than standard oils. They also contain contaminants, making refinement more challenging. In comparison to their more easily available conventional equivalents, unconventional oils are more difficult to extract and require specific equipment and technology to deal with their location and/or composition.
The Development Of Unconventional Energy Resources, Such As Shale Gas And Oil, Represents A Sizable Opportunity For Participation By The Ceramics Community
Unconventional energy resources, such as shale gas and oil, provide a significant potential for the ceramics industry to participate. New drilling, stimulation, detection, and production materials are required. Proppants, for instance, represent a significant demand and potential. The demand for proppants has outstripped availability of raw materials and production capability in the United States. None of the current industrial capacity is located near shale oil and gas exploration and production hotspots. We've shown that it's possible to turn locally sourced raw materials that might otherwise end up in landfills into useful proppants. By removing these materials from landfills, may achieve major environmental benefits while also creating a new supply of a high-value-added material that is crucial for the development of shale gas and oil resources. However, the potential is considerably larger than only proppants.
The major players operating in the proppants market are Baker Hughes Co, U.S. Silica Holdings Inc., Badger Mining Corporation, Momentive Performance Materials, Mineracao Curimbaba Ltd., Texas Silica, CARBO Ceramics Inc., China Ceramic Proppant (Guizhou) Ltd, Covia Holdings LLC, Eagle Materials Inc., Erna Frac Sand, FTS International, Inc., Hi-Crush Inc, Preferred Sands LLC, Superior Silica Sands, Xinmi Wanli Industry Development Co., Ltd, Vikas Proppant & Granite Ltd, Hexion, Halliburton Company, CoorsTek Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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Find more Visiongain research reports on Oil & Gas Industry click on the following links:
- Proppants Market
- Deepwater Drilling Market Report
- Pipeline & Process Services Market Report
- Offshore Oil & Gas Decommissioning Market Report
- Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market
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