Global Proppant Market Overview:
This study categorises the Global Proppant Market in order to anticipate revenues and analyse trends in each of the sub-markets listed below. The Competition Strategic Window investigates the competition landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their strengths and future growth possibilities. The market research study investigates and assesses the market's position during the forecast period. It is comprehensive research that focuses on primary and secondary drivers, market dominance, important segments, and geographical analysis. The study also examines prominent persons, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategy.
Expected Revenue Growth Analysis:
Global Proppant Market reached a value of US $ 7.81 Bn. in 2020. Frac sand is one of the dominating segment of the Global Proppant Market.
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Global Proppant Market Scope:
The Global Proppant Industry research provides readers with a more in-depth insight of the market and competitive landscape, helping them to make better decisions on market growth and expansion. The study includes a participant summary, revenue figures, capital investment, and worldwide Global Proppant market growth rates.
We looked at the Global Proppant Market from every perspective possible, using both primary and secondary research methodologies. This increased our understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, and customer behavior, among other things. The data is then compiled and assessed using a range of market estimation and data validation methodologies. Furthermore, we have an in-house data forecasting engine that forecasts market growth until 2027.
Global Proppant Market Dynamics:
The combination of horizontal drilling and multistage fracturing technology has fundamentally transformed the oil and gas production landscape across the globe. Exploration and production companies are incorporating more sand each stage into their drilled and completed horizontals, a trend that is expected to accelerate over time. The average sand consumption per horizontal well has tripled since 2013, and it is expected to continue to rise due to longer laterals and higher loadings per lateral foot. The development of technologies to promote the use of natural sand/Frac sand instead of ceramic sand has resulted in a strong demand for drilling proppants. The use of frac sand decreases the raw material price by more than 50%.
Global Proppant Market Segmentation Analysis:
Based on the Type, the Proppant Market is segmented into Frac Sand, Resin Coated Proppant, and Ceramic Proppant. The Frac Sand segment held the largest market share accounting for 83% in 2020. The segment growth is mainly attributed to its lower cost as compared to other types of proppant. Frac sand is a common type of proppant. It's a high-purity sandstone proppant, which is found in nature. These proppants are most commonly used with a 6,000 psi closure pressure. Depending on the fracking job, they can be as little as 0.1 millimetres in diameter or as large as 2 millimetres in diameter. The growing use of frac sand in exploration and production businesses in the fracturing process is expected to boost the proppant market growth during the forecast period.
Global Proppant Market Leading Companies:
• Momentive
• Saint-Gobain
• Momentive Speciality Chemicals Inc.
• Borovichi Refractories Plant
• Mineracao Curimbaba Ltda.
• Yixing Orient Petroleum Proppant Co. Ltd
• China Gengsheng Minerals, Inc.
• Hexion Inc.
• SmartSand, Inc.
• ChangQing Proppant
• Eagle Materials Inc.
• Baker Hughes
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Regional Analysis:
The Global Proppant market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Global Proppant market share and will continue to be a major shareholder in the global Global Proppant market.
COVID-19 Impact Analysis on Global Proppant Market:
We thoroughly researched and analyzed the Global Proppant Market Development Strategy post-COVID-19, by corporate strategy analysis, landscape, type, application, and leading countries, which encompasses and analyses the global Global Proppant industry's potential, providing statistical data on market dynamics, growth factors, major challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts. The primary goal of the research is to provide enterprises in the industry with a strategic analysis of the impact of COVID-19. Simultaneously, this research investigated the marketplaces of significant nations and presented their market potential. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Key Questions Answered in the Global Proppant Market Report are:
- What will be the CAGR of the Global Proppant market during the forecast period?
- Which segment emerged as the leading segment in the Global Proppant market?
- Which are the prominent players in the Global Proppant market?
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