Global Fracking Proppants Market is accounted for $72.35 billion in 2017 and is expected to reach $265.81 billion by 2026 growing at a CAGR of 15.5% during the forecast period. Growing demand for energy and changing focus towards unconventional gas are some of the key factors propelling the market growth. However, high cost of ceramic proppant and contamination concerns are inhibiting the market growth.
Some of the key players in the Fracking Proppants Market include Baker Hughes, Saint-Gobain, Mineracao Curimbaba Ltd, Momentive, Fairmount Santrol, Carbo Ceramic, Unimin Corporation, U.S. Silica, Preferred Sands, Atlas Resin Proppants LP, Yixing Orient Petroleum Proppant Co. Ltd, Fores Ltd and Hi crush LP Partners.
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Fracking proppant is a hard material used to seize open cracks in the wellbore which are generated by the procedure 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 bring fractures in the target zone or the geological development.
On the basis of product, frac sand segment witnessed steady growth. Factors such as easy availability and low cost are favoring the growth of this segment. By geography, North America is anticipated to dominate the global market during the forecast period due to increasing hydraulic fracturing applications in the United States, especially for shale gas and tight oil purposes, which had a positive impact on the demand for proppants.
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Fracturing Technologies Covered:
-Natural Induced Hydraulic Fracturing
-Polylactic Acid Base Fiber Technology
-Induced Hydraulic Fracturing
-Resin Coated Proppants
-Coal Bed Methane
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