- The key vendors in the global proppant market 2015-2019 are CARBO Ceramics Inc., Hi-Crush Proppants LLC, Imerys, JSC Borovichi Refractories Plant and Saint-Gobain Proppants
London, 10 September 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global proppant market 2015-2019. Proppants have been key in the expansion of oil and gas production in North America, setting off a chain of events that is revitalizing the region’s chemical processing and other industries. Good opportunities for the players in the proppants market are expected to arise in a number of states in the US, including Texas and Pennsylvania, as well as in several developing places in Canada, including Montney. The global proppant market 2015-2019 is expected to grow at a CAGR of 10.58% between 2014 and 2019.
A significant rise in the demand for proppants is expected to continue during the forecast period because of their increased usage in the hydraulic fracturing process in the oil and gas sector. The exploration of natural gas and oil through unconventional methods will reduce the excessive dependency on the conventional exploration of natural gas and will reassure consumers about the reliability of oil supplies.
The major types of proppants are frac sand, resin coated sand, and ceramic proppants. Each proppant type has its own advantages and disadvantages, and the type of proppant to be used is decided depending on the geology, availability, prices, and government regulations.
“The requirement for the unconventional oil and gas extraction method is highlighted by the increasing demand for oil products in emerging markets such as China, India, and MEA, where rising incomes are driving the demand for energy,” says Faisal Ghaus, Vice President of Technavio Research.
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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