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Proppants are solid materials that are intended to keep induced hydraulic fracture open during the fracturing process. These materials are generally sand, treated sand and artificially manufactured ceramic materials. Proppants are generally added to the fracking fluid. It can vary in composition depending upon the fracturing type. Low density ceramic proppants are generally used for moderate depth natural gas wells and other hydraulic fracturing processes. These proppants have high conductivity which makes it appropriate for many application areas.
Increasing demand from operators of hydraulic fracturing for low density ceramic proppants for closely spaced wells is likely to boost the demand for these proppants. The increasing demand from end-use sectors is driving the demand for natural gas, oil and petroleum which substantially is increasing the demand for low-density ceramic proppants. Additionally, the lower cost of the proppants as compare to resin-coated sand shall create positive impact on the market.
However, the exploration of new hydraulic wells is relatively expensive than already established crude oil production. This can hamper the market growth.
Key Market Driver -
Increasing demand from oil & gas sector.
Key Market Restraint -
High cost of hydraulic exploration.
Based on type, the market is segmented into large mesh and small mesh. Based on application, the market is segmented into, oil & gas, construction, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global low-density ceramic proppant market consists of global & regional players operating. Some of the key players in the market include Saint-Gobain, Fineway Ceramics, Imerys SA, Badger Mining, CARBO, Mineracao Curimbaba, Fores, CC, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to hold the largest share attributed to the concentrated market of hydraulic fracturing. Asia Pacific is estimated to be second-largest market due to the easy availability of raw material in countries like China and India. Europe is expected to show significant growth due to the increasing construction activities in European region. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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