San Francisco, California, Feb. 9, 2015 (GLOBE NEWSWIRE) -- Global proppants market is expected to reach 96.03 million tons by 2020, according to a new study by Grand View Research, Inc. Growing drilling and completion activities for shale gas in the U.S. and Canada is expected to drive market growth over the next six years. In, addition advent of multiple stage fracturing resulting in higher consumption of proppants per stage is expected 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.
Access full research report on Global Proppants Market: http://www.grandviewresearch.com/industry-analysis/proppants-market
Sand was the largest product segment accounting for over 75% of 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.
Further key findings from the study suggest:
- Shale gas was the largest application segment in 2013 and is expected to witness swift growth over the forecast period due to large recoverable reserves in China, U.S., Algeria, Argentina, Mexico and Australia. Increasing application scope of proppant in shale gas extraction on account of the latter being used in transportation and power generation is expected to propel market growth over the forecast period.
- North America was the largest regional market, accounting for over 75% of global demand in 2013. The market is expected to witness significant growth over the next six years owing to growth in shale gas production coupled with increase in fracturing jobs per year.
- Asia Pacific is expected to witness fastest growth, at an estimated CAGR of over 12% from 2014 to 2020, owing to 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.
- Key market participants include U.S. Silica, Carbo Ceramics, Momentive, Fairmount Santrol, Hi Crush LP Partners, Fores, Saint-Gobain and Preferred Sands. Preferred Sands and Dow Chemicals Company announced the production of an effective proppant solution that meets OSHA standard and limits silica dust exposures. Various companies focus on technological advancements to produce eco-friendly proppants which would offer increased fracture flow capacity and enhance hydrocarbon recovery.
For the purpose of this study, Grand View Research has segmented the global proppants market on the basis of product, application and region:
Global Proppants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Resin Coated
Global Proppants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Shale Gas
• Tight Gas
• Coal Bed Methane
Global Proppants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
More information about the Global Proppants Market: http://www.grandviewresearch.com/industry-analysis/proppants-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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