The Global Fracking proppant market is basically based on the petroleum industry and is the largest user of fracking proppants. The fracking proppants market is basically comprised with penetrating the oil reserves beneath earth, extracting the oil and gas reserves and indulging in the fracturing activities. The Global fracking proppant market is expected to grow at the CAGR of 11% between 2015-2022. The rising demand in the hydraulic fracturing, the growing demand of shale gas in north America, and the increasing demand for unconventional energy are some of the market drivers for the fracking proppant market.
The sales for proppants has seen an increase due to the increase in production and demand of shale gas. Different countries are looking forward to utilize the potential of the energy produced through fracking proppant method for domestic purposes and the rest excess gas to be exported out of the country. The shale gas is being consumed by the end user’s over the traditional conventional gas. The natural gas prices are delinked with that of crude oil, which is more economical and cheap to develop shale oil. The demand for fracking proppant in terms of value and volume, shows the current and the future projections according to the parallel economic and its industrial outlook. This report analysis covers all the important developments which are made, the expansions, agreements and all the major mergers and acquisitions which has happened on a global level among companies. The agreements, mergers and expansions made by the companies are the key strategy adopted to boost the fracking proppant market.
The fracking proppant market includes various driving factors for it, but although even there are some challenges faced by this market, which can be stated as high logistics cost and regulatory controls.
On the basis of the market demands and supplies the fracking proppant market is segmented into North America, Europe, APAC and the rest of the world. The North American region has the largest market share globally and is literally followed by APAC, Europe and the rest of the world. The North American region and the Asia pacific region have the largest market share and are expected and in the future are expected to lead the market of the fracking proppant followed by the rest of the world. The North American region dominates the production outcome and the consumption of shale gases. In the year 2014 North America has alone shared the consumption and production of shale gases of about 78%. This has given a certain amount of boost to the industry in this region.
The segmentation of the market is majorly carried out on the basis of application and product. The market is further sub segmented on the basis of product in to sand, resin coated proppants and ceramic proppants. With an enormous share of 83% the sand proppnats is leading the market. The immense availability and preferably low cost of the sand proppants is the reason manufacturers are adopting this method widely. The petroleum industry uses the frac sand on a large scale. The two most efficient methods adopted by the industries for gas extraction over the globe are Horizontal Drilling and hydraulic fracturing. The shale gas extraction and key applications are industrial, power generation and transport residential. The industrial segment is the largest segment of the shale gas industry around the globe which contributes over 30% of the entire share market in the year 2014.
In the field of fracking proppant market the major market players are carbo ceramic, Yixing orient petroleum proppants co. Ltd., Mineracao curimbaba Ltd., santrol, unimin corporation, hi crush partners LP, Borovichi refractories plant. In this market expansions, mergers and agreements are the key strategies adopted by the companies to sustain in the long run.
The segment of the Asia pacific propannts market is about to witness a great hike due to the presence of immense shale gas reserves. Whereas China has the largest reserves of recoverable shale gas in the world. China is continuously involved in supervising a horizontal drilling and water fracking which is being carried out successfully. Whereas on the other hand india has comparatively less estimated reserves of recoverable reserves of shale gas, but is predicted that it may increase with a better response in the future.