The Global Proppants Market is expected to record a CAGR of over 5% over the forecast period (2021-2027).
The main applications of Proppants are oil and gas wells. As the market oversupplied due to COVID-19 and geopolitics, crude oil production declined, causing OPEC+ producers to cut production. According to the U.S. Energy Information Administration, production in 2020 fell from 122 million barrels in 2019 to an average of 11.3 million barrels per day. This is expected to affect the demand for a variety of pro pants such as freck sand, resin coating and ceramic.
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Key Market Players
The leading players in the proppants market are Carbo Ceramics Inc. (US), COVIA (US, JSC Borovichi Refractories Plant (Russia), U.S. Silica Holdings Inc. (US), Hi-Crush Inc. (US), Mineração Curimbaba (Brazil), Xinmi Wanli Industry Development Co., Ltd. (China), Atlas Sand Company, Llc (US), and HEXION (US).
Proppants Market Segmentations
On the basis of type
• Frac Sand
• Resin-Coated Proppants
• Ceramic Proppants
On the basis of application
• Shale Gas
• Tight Gas
• Coalbed Methane
• Others (tight oil, deep gas and subsea hydrates)
On the basis of ceramic proppants:
• High Strength Ceramic Proppants
• Intermediate Strength Ceramic Proppants
• Light Weight Ceramic Proppants
• Others (ultra-light weight proppants, ultra-strength proppants, and ultra-conductive proppants)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
