North America Proppants Market
The North American proppants market was valued at USD XX.XX in 2016 and is projected to reach USD XX.XX by 2021, at a CAGR of XX.XX% during the forecast period. The region holds 79.0% of the global market share and is the largest consumer of proppants. The market in this region is driven by high crude prices and further improvements in fracturing technology.
Proppants are sand or other granular substances that are injected into the fractures to hold or open formation fractures created by hydraulic fracturing. Although proppants have been used in the oil & gas production for 70 years, the recent emergence of the horizontal drilling technology with multistage hydraulic fracturing in shale gas extraction has created new opportunities for growth of this market in the mid-2000s. It shows a good performance in most conditions except in wells with high closure pressures.
Market Dynamics of the North American Proppants Market
Spike in crude oil prices
Success of early ventures in horizontal drilling
High growth potential of the U.S market
Cost factor in the case of ceramic proppants
Various environmental norms on the usage of proppants
North American Proppants Market Segmentation
The North American proppants market can be segmented by type (frac sand, resin coated and ceramic) and by geography (the United States of America, Canada, and Mexico). Frac sand is the most inexpensive and accounts for 80% share of the demand. This demand will continue to account for the largest chunk of the market due to cost advantages. Its market is expected to grow at a CAGR of 14.0% during the forecast period. Resin coated proppants are also expected to grow at a CAGR of 12.0% due to the relative cost advantages over ceramic proppants and performance advantage over frac sand. Improved fracturing techniques have allowed sand to be used in applications that were previously thought to be beyond its performance range. It performs suitably in most conditions except in wells with high closure pressures. Due to their higher costs, ceramic proppants will be limited to areas requiring high performance products. Their market is expected to grow at a CAGR of 15.0% owing to their reliability in extreme conditions.
The report studies the major market players for insights into the recent developments, financials and products & services offered. Some of the key players in this market are:
Superior Silica Sands
U.S. Silica Holdings
Key Deliverables in the Study
Market analysis for the North America proppants market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the North America proppants market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries where this industry is growing and to also identify the regions that are still untapped.