Proppants Market Size, Share & Trends Analysis Report, By Type (Frac Sand, Resin-Coated, Ceramic), By Application (Shale Gas, Tight Gas, Coal Bed Methane), By Region, And Segment Forecasts, 2024 - 2030

Proppants Market Size, Share & Trends Analysis Report, By Type (Frac Sand, Resin-Coated, Ceramic), By Application (Shale Gas, Tight Gas, Coal Bed Methane), By Region, And Segment Forecasts, 2024 - 2030

Proppants Market Growth & Trends

The global proppants market size is expected to reach USD 15.62 billion by 2030, registering at a CAGR of 8.2%, according to a new study by Grand View Research, Inc. Growing drilling and completion activities for shale gas in the U.S. and Canada are expected to drive market growth over the next six years. In, addition the advent of multiple stage fracturing resulting in higher consumption of proppants per stage is expected to augment demand over the forecast period. In addition, large technically recoverable shale gas reserves in China, Australia, Algeria, and Russia is expected to promote market growth.

Sand was the largest product segment accounting for over 75% of the market share in 2013. Sand is expected to witness demand growth owing to its low cost and high availability in comparison to other proppants. Ceramic proppants are expected to witness significant demand growth over the next six years on account of superior properties including high strength, crush resistance, and conductivity resulting in increased use for shale plays.

Proppants Market Report Highlights

• Frac sand dominated the market in terms of revenue share of 77.0% in 2023. It is pivotal in hydraulic fracturing, facilitating high volumes of oil and natural gas production, contributing to reliable energy, and reducing dependency on external energy sources.
• Shale gas dominated the market with a share of 51.6% in 2023 in the application category. The shale gas features are crucial for hydro-fracturing efficacy and the stability of induced fractures as the minerals have poor permeability that challenges the fluids to pass through them.
• The North America proppants market dominated with a significant share of 45.5%. The market is expected to witness significant growth owing to growth in shale gas production coupled with an increase in fracturing jobs per year.
• Asia Pacific proppants market is expected to grow with a CAGR of 9.3% over the forecast period, owing to the high potential of shale gas reserves in China coupled with large coal bed methane reserves in Australia. Regional growth can be attributed to favorable government policies to develop shale gas reserves in India and China.

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