Frac Sand Continues to Dominate Proppants Market
Increasing proppant consumption per well and improvements in fracturing technologies are the major factors expected to drive the proppant market.
The global proppants market is projected to reach $9.87 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.9% between 2017 and 2022, according to a recent report available from Research and Markets. A proppant is a solid material that is used to keep fractures propped open during or after a hydraulic fracturing treatment. Proppants are mainly used in the hydraulic fracturing of shale gas, tight gas and cold bed methane.
Increasing proppant consumption per well and improvements in fracturing technologies are the major factors expected to drive the proppant market. However, the high cost of ceramic proppants and oversupply of crude oil could restrain market growth.
The frac sand proppant segment is estimated to be the largest of the market, accounting for more than 60% of total proppants production worldwide. A naturally occurring proppant made from high-purity sandstone, it is mostly applicable under closure pressure of 6,000 psi. Easy availability and low cost have influenced significant growth in the consumption of frac sand proppants.
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