Proppants Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032
The Global Proppants Market was valued at USD 8.58 billion in 2023 and is expected to grow at a CAGR of 7.8% from 2024 to 2032. This growth is largely driven by the rising demand for unconventional oil and gas resources, such as shale formations, which rely heavily on hydraulic fracturing for extraction. The expansion of hydraulic fracturing activities, particularly in North America, has significantly increased the demand for proppants, as they play a vital role in keeping fractures open to enhance hydrocarbon flow. Advances in proppant technology, including the development of more robust and conductive materials, are improving the efficiency of extraction processes. Additionally, growing environmental regulations encourage the development of more sustainable and eco-friendly proppant solutions, contributing to market expansion.
By type, Frac sand dominated the market in 2023, with a valuation of USD 4.7 billion, and is expected to grow to USD 9.5 billion by 2032. Its widespread use is due to its cost-effectiveness and abundance. Frac sand’s ability to withstand high pressure and maintain the structural integrity of rock formations makes it a preferred choice for hydraulic fracturing, which helps extract oil and natural gas. In terms of application, the shale gas segment held a 39% share in 2023 and is projected to see continued growth through 2032. Shale gas extraction relies heavily on proppants to facilitate the release of gas from fine-grained sedimentary rocks. The increasing global demand for natural gas as a cleaner alternative to traditional fossil fuels, especially in power generation, is further driving the growth of this segment.
North America led the global proppants market in 2023, generating revenue of USD 3.3 billion, with projections reaching USD 6.7 billion by 2032. This region remains at the forefront of the market, driven by its extensive use of hydraulic fracturing in major oil and gas extraction activities. The presence of vast shale formations, such as the Permian Basin and Marcellus Shale, supports the region’s dominance in the proppants market.
By type, Frac sand dominated the market in 2023, with a valuation of USD 4.7 billion, and is expected to grow to USD 9.5 billion by 2032. Its widespread use is due to its cost-effectiveness and abundance. Frac sand’s ability to withstand high pressure and maintain the structural integrity of rock formations makes it a preferred choice for hydraulic fracturing, which helps extract oil and natural gas. In terms of application, the shale gas segment held a 39% share in 2023 and is projected to see continued growth through 2032. Shale gas extraction relies heavily on proppants to facilitate the release of gas from fine-grained sedimentary rocks. The increasing global demand for natural gas as a cleaner alternative to traditional fossil fuels, especially in power generation, is further driving the growth of this segment.
North America led the global proppants market in 2023, generating revenue of USD 3.3 billion, with projections reaching USD 6.7 billion by 2032. This region remains at the forefront of the market, driven by its extensive use of hydraulic fracturing in major oil and gas extraction activities. The presence of vast shale formations, such as the Permian Basin and Marcellus Shale, supports the region’s dominance in the proppants market.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Market challenges
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton), 2021 – 2032
3.3.4.1 North America
3.3.4.2 Europe
3.3.4.3 Asia Pacific
3.3.4.4 Latin America
3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter’s analysis
3.6 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
CHAPTER 5 MARKET SIZE AND FORECAST, BY TYPE, 2021-2032 (USD BILLION, KILO TONS)
5.1 Key trends
5.2 Frac sand
5.3 Resin-coated proppants
5.4 Ceramic proppants
CHAPTER 6 MARKET SIZE AND FORECAST, BY APPLICATION, 2021-2032 (USD BILLION, KILO TONS)
6.1 Key trends
6.2 Shale gas
6.3 Tight gas
6.4 Coalbed methane
6.5 Others (including tight oil, deep gas etc.)
CHAPTER 7 MARKET SIZE AND FORECAST, BY CERAMIC, 2021-2032 (USD BILLION, KILO TONS)
7.1 Key trends
7.2 High strength ceramic proppants
7.3 Intermediate strength ceramic proppants
7.4 Light weight ceramic proppants
7.5 Others (including ultra-light weight proppants, ultra-strength proppants etc.)
CHAPTER 8 MARKET SIZE AND FORECAST, BY REGION, 2021-2032 (USD BILLION, KILO TONS)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Russia
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 Australia
8.4.5 South Korea
8.4.6 Malaysia
8.4.7 Indonesia
8.4.8 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.5.4 Rest of Latin America
8.6 MEA
8.6.1 Saudi Arabia
8.6.2 South Africa
8.6.3 UAE
8.6.4 Rest of MEA
CHAPTER 9 COMPANY PROFILES
9.1 Badger Mining Corporation
9.2 Carbo Ceramics, Inc.
9.3 China GngSheng Minerals, Inc.
9.4 Covia
9.5 Emerge Energy Services LP
9.6 Fairmount Santrol Holdings Inc.
9.7 Hexion, Inc.
9.8 Hi-Crush Inc.
9.9 Momentive Specialty Chemicals Inc.
9.10 Saint-Gobain Proppants
9.11 Sun Specialty Products
9.12 U.S. Silica Holdings Inc.
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Market challenges
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton), 2021 – 2032
3.3.4.1 North America
3.3.4.2 Europe
3.3.4.3 Asia Pacific
3.3.4.4 Latin America
3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter’s analysis
3.6 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
CHAPTER 5 MARKET SIZE AND FORECAST, BY TYPE, 2021-2032 (USD BILLION, KILO TONS)
5.1 Key trends
5.2 Frac sand
5.3 Resin-coated proppants
5.4 Ceramic proppants
CHAPTER 6 MARKET SIZE AND FORECAST, BY APPLICATION, 2021-2032 (USD BILLION, KILO TONS)
6.1 Key trends
6.2 Shale gas
6.3 Tight gas
6.4 Coalbed methane
6.5 Others (including tight oil, deep gas etc.)
CHAPTER 7 MARKET SIZE AND FORECAST, BY CERAMIC, 2021-2032 (USD BILLION, KILO TONS)
7.1 Key trends
7.2 High strength ceramic proppants
7.3 Intermediate strength ceramic proppants
7.4 Light weight ceramic proppants
7.5 Others (including ultra-light weight proppants, ultra-strength proppants etc.)
CHAPTER 8 MARKET SIZE AND FORECAST, BY REGION, 2021-2032 (USD BILLION, KILO TONS)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Russia
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 Australia
8.4.5 South Korea
8.4.6 Malaysia
8.4.7 Indonesia
8.4.8 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.5.4 Rest of Latin America
8.6 MEA
8.6.1 Saudi Arabia
8.6.2 South Africa
8.6.3 UAE
8.6.4 Rest of MEA
CHAPTER 9 COMPANY PROFILES
9.1 Badger Mining Corporation
9.2 Carbo Ceramics, Inc.
9.3 China GngSheng Minerals, Inc.
9.4 Covia
9.5 Emerge Energy Services LP
9.6 Fairmount Santrol Holdings Inc.
9.7 Hexion, Inc.
9.8 Hi-Crush Inc.
9.9 Momentive Specialty Chemicals Inc.
9.10 Saint-Gobain Proppants
9.11 Sun Specialty Products
9.12 U.S. Silica Holdings Inc.
