Proppants Market Size

Growing demand for unconventional oil & gas reserves is driving the market growth.

The proppants market has witnessed notable technological advancements and product innovations, contributing to its growth and evolution. Manufacturers invest in research and development to enhance proppant characteristics, such as crush resistance, conductivity, and durability. These improvements aim to optimize well performance and increase hydrocarbon recovery rates. One key innovation in the proppants market is the development of resin-coated proppants. Coating proppant particles with a thin layer of resin significantly improves their crush resistance and conductivity. This coating acts as a barrier, preventing the flow back of fine particles and reducing the risk of proppant embedment in the formation.

Resin-coated proppants offer better control over proppant placement and are increasingly preferred in high-stress reservoirs.

Moreover, advancements in manufacturing processes have resulted in the production of lightweight proppants. These proppants, made from ceramics or sintered bauxite, offer improved conductivity and can be transported more efficiently due to their lower bulk density. Lightweight proppants are gaining traction, especially in deep and ultra-deep reservoirs, where they help mitigate closure stresses and maintain fracture conductivity.

Furthermore, research is underway to explore alternative materials for proppants, such as ceramics and biodegradable polymers. These materials offer the potential for enhanced fracture conductivity while minimizing environmental impacts. The adoption of sustainable proppants aligns with the industry's increasing focus on corporate social responsibility and regulatory compliance, thus driving market growth.

As hydraulic fracturing activities expand globally, the demand for proppants continues to rise. Manufacturers respond to market needs by investing in research and development to improve proppant characteristics, leading to innovations such as resin-coated and lightweight proppants. Additionally, environmental concerns have spurred the development of sustainable proppants, including recycled materials and alternative options. By closely monitoring and adapting to these trends, industry stakeholders can position themselves for success in the dynamic proppants market, driving the Proppants market revenue.

The Global Proppants Market Industry experiences a robust demand driven by the increasing exploration and production activities in the oil and gas sector. As countries strive to enhance energy security and reduce dependency on imports, investments in hydraulic fracturing technologies have surged. This trend is particularly evident in regions such as North America and the Middle East, where shale gas production is on the rise. The market is projected to reach 10.3 USD Billion in 2024, reflecting the industry's growth trajectory. This demand is expected to continue, with projections indicating a market size of 29.9 USD Billion by 2035, suggesting a compound annual growth rate of 10.15% from 2025 to 2035.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Proppants market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The proppants industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Proppants industry to benefit clients and increase the market sector. In recent years, the Proppants industry has offered some of the most significant medical advantages. Major players in the Proppants market, including Carbo Ceramics Inc., COVIA, JSC Borovichi Refractories Plant, S. Silica Holdings Inc., Hi-Crush Inc., MineraçãoCurimbaba, XinmiWanli Industry' Development Co. Ltd., Atlas Sand Company, Llc, HEXION, Schlumberger Limited., and others, are attempting to increase market demand by investing in research and development operations.

Covia, previously known as Unimin, founded in 1970, and located in New Canaan, Connecticut, USA, is a corporation wholly owned subsidiary of the industrial minerals company of SCR, Belgium. It operates in the US, Mexico, and Canada mining and minerals processing facilities. Unimin merged with Santrol to become Covia in the year 2018. It is America's largest producer of non-metallic industrial minerals, quartz proppants, resin-coated proppants, etc. In December 2021, Covia, the leader in the proppants sector, announced that its Industrial Segment would adopt a price rise of up to 15% across all product lines beginning January 1, 2022.

This step is important to assist in balancing sustained and considerable inflationary pressures in various sectors, including energy, steel, packaging, transportation, labor, resins, and additives. It will enable Covia to retain its service and value to industrial clients.

Select Sands Corporation, founded in 2006, and located in Vancouver, Canada, is a Canadian company that quarries and produces silica sand. The company sells them to industrial and energy customers. It was previously known as La Ronge Gold Corporation. In December 2019, Select Sands Corporation and Select Sands America Corp. designed a pact to supply proppants. Select sands will provide reliable and high-quality proppant to achieve the production results.