According to the report the global frac sand market reached a value of USD 8.32 billion in 2022. Aided by the surging demand in hydraulic fracturing activities and an upswing in oil and gas exploration, the market is projected to further grow at a CAGR of 7.50% between 2023 and 2028 to reach a value of USD 12.83 billion by 2028.
Frac sand, also known as proppant, is a high-purity quartz sand with superlative crush-resistant properties, ideally suited for hydraulic fracturing in the oil and gas industry. This sand plays a pivotal role in keeping an induced hydraulic fracture open during the fracking process, thus facilitating the flow of hydrocarbons. In addition to its robust mechanical properties, frac sand's uniformity in grain size makes it highly sought after in the extraction process.
One of the primary accelerators of the frac sand market growth is the burgeoning demand for energy worldwide. As traditional energy resources deplete and the quest for unconventional resources intensifies, hydraulic fracturing emerges as a pivotal method to extract natural gas and oil from deep rock formations. This has directly led to a surge in the demand for high-quality frac sand.
Moreover, technological advancements in drilling techniques and a subsequent rise in horizontal drilling have further magnified the frac sand market demand. Horizontal drilling requires more proppant per well, as it covers a more extensive section of the rock formation, thereby pushing the frac sand market to new heights.
In addition to the oil and gas industry, the use of frac sand in other sectors is also noteworthy. Its unique properties, such as high-silica content and consistent grain size, are being explored in various industrial applications, including glass manufacturing and foundry works. These expanding domains of application add value to the frac sand market size.
Furthermore, the strategic investments and expansions of major players in the oil and gas industry, particularly in North America, have led to an increasing demand for frac sand. The United States, with its flourishing shale oil and gas industry, stands out as a dominant consumer of frac sand, closely followed by Canada.
As per the frac sand market analysis, ongoing research aiming to make the fracking process more environmentally friendly, coupled with the undying global energy demand, continues to offer robust support to the frac sand industry.
These high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Frac sand, also known as proppant, is a high-purity quartz sand with superlative crush-resistant properties, ideally suited for hydraulic fracturing in the oil and gas industry. This sand plays a pivotal role in keeping an induced hydraulic fracture open during the fracking process, thus facilitating the flow of hydrocarbons. In addition to its robust mechanical properties, frac sand's uniformity in grain size makes it highly sought after in the extraction process.
One of the primary accelerators of the frac sand market growth is the burgeoning demand for energy worldwide. As traditional energy resources deplete and the quest for unconventional resources intensifies, hydraulic fracturing emerges as a pivotal method to extract natural gas and oil from deep rock formations. This has directly led to a surge in the demand for high-quality frac sand.
Moreover, technological advancements in drilling techniques and a subsequent rise in horizontal drilling have further magnified the frac sand market demand. Horizontal drilling requires more proppant per well, as it covers a more extensive section of the rock formation, thereby pushing the frac sand market to new heights.
In addition to the oil and gas industry, the use of frac sand in other sectors is also noteworthy. Its unique properties, such as high-silica content and consistent grain size, are being explored in various industrial applications, including glass manufacturing and foundry works. These expanding domains of application add value to the frac sand market size.
Furthermore, the strategic investments and expansions of major players in the oil and gas industry, particularly in North America, have led to an increasing demand for frac sand. The United States, with its flourishing shale oil and gas industry, stands out as a dominant consumer of frac sand, closely followed by Canada.
As per the frac sand market analysis, ongoing research aiming to make the fracking process more environmentally friendly, coupled with the undying global energy demand, continues to offer robust support to the frac sand industry.
Market Segmentation
The market can be divided based on type, application, and region.Market Segmentation
- White Sand
- Brown Sand
- Others
Market Segmentation
- Oil Exploration
- Natural Gas Exploration
- Others
Market Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global frac sand market. Some of the major players explored in the report are as follows:- CARBO Ceramics Inc.
- Covia Holdings Corporation
- Badger Mining Corporation
- Smart Sand, Inc.
- U.S. Silica
- Hi-Crush Inc
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis16 Price Analysis19 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Frac Sand Market Analysis
9 North America Frac Sand Market Analysis
10 Europe Frac Sand Market Analysis
11 Asia Pacific Frac Sand Market Analysis
12 Latin America Frac Sand Market Analysis
13 Middle East and Africa Frac Sand Market Analysis
14 Market Dynamics
17 Manufacturing Process
18 Competitive Landscape
List of Figures and Tables
Companies Mentioned
- CARBO Ceramics Inc.
- Covia Holdings Corporation
- Badger Mining Corporation
- Smart Sand Inc.
- U.S. Silica
- Hi-Crush Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 177 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 8.94 Billion |
| Forecasted Market Value ( USD | $ 12.83 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
