Frac Sand Industry Outlook:
The latest report by IMARC Group, titled “Frac Sand Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global frac sand market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global frac sand market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.24% during 2023-2028.
Frac sand is a naturally occurring crystalline substance that is processed from highly pure quartz or silicon dioxide (SiO2). It is commercially produced from sandstone deposits through the mining process, followed by washing, screening, and removing impurities. It is a highly durable, strong, and crush-resistant material that is utilized as a proppant in hydraulic fracturing operations to extract natural gas and oil from shale rock formations below the ground. In comparison to other proppants such as ceramic, sintered bauxite, and aluminum beads, frac sand is more uniform, readily available, highly compatible, and offers superior performance. Additionally, it is an economical, robust, and environmentally friendly product that can withstand harsh conditions. As a result, it is widely used in various applications, including construction, glass manufacturing, foundry casting, filtration, and landscaping.
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Market Trends and Drivers:
The expanding oil and gas industry is driving the global market. Furthermore, the growing demand for petroleum-based products and ongoing technological advancements in the process of natural gas and oil extractions are catalyzing the growth of the market. Apart from this, several major companies are heavily investing in extensive research and development (R&D) activities to introduce efficient and high-quality frac sand, which enhances the flow of fluid, this, in turn, is creating a positive market outlook. Furthermore, the growing demand for various petroleum-based products, such as gasoline, diesel, kerosene, aviation turbine fuel (ATF), paraffin, and polyurethane, is providing an impetus to the market. Other factors, including rising investments in crude oil production projects, and increasing energy demand, are also influencing the global market.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- CARBO Ceramics
- Emerge Energy Services
- Covia Holdings
- Hi-Crush
- Source Energy Services
- U.S Silica
- Preferred Sands
- Badger Mining Corporation
- Mammoth Energy Service, Inc
- Smart Sand Inc.
- Chongqing Changjiang
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Key Market Segmentation:
Market Breakup by Type:
- White Sand
- Brown Sand
- Others
Market Breakup by Application:
- Oil Exploitation
- Natural Gas Exploration
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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