The new report by Expert Market Research titled, ‘Global Frac Sand Market Trends, Price, Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global frac sand market, assessing the market based on its segments like type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 7.2 Billion
- Forecast CAGR (2023-2028): 7.5%
- Forecast Market Size (2026): USD 11.1 Billion
The main factor driving global demand growth is a booming oil and gas industry. If the number of oil and gas exploration activities increases across the world, the market for frac sand increases as well. Hydraulic fracturing is a commonly used technique in the oil and gas industry to satisfy the increasingly growing demand for petroleum, oil, and gas around the world.
As a result, the demand for frac sand is growing as well, as it is an important component of the project, with thousands of tons of frac sand being required per hydraulic fracturing process. The introduction of fine mesh frac sand, which improves the flow of natural fluids when they are released from the shale, is also propelling the industry forward.
Over the forecast period, the factors that will contribute to its success include its cost-effectiveness as compared to resin-coated and ceramic proppants.
Frac Sand Industry Definition and Major Segments
Frac sand is made from high-purity sandstone and is a naturally occurring crystalline silica (quartz) sand. Frac sand varies only marginally from other types of sand in terms of composition, as quartz silica grains are a major component of most inter-coastal sands. Other sand, on the other hand, is made up of a number of minerals and rocks that are less durable than quartz.
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The market is segmented on the basis of type into:
- White Sand
- Brown Sand
On the basis of application, the industry is divided into:
- Oil Exploration
- Natural Gas Exploration
Regionally, the market can be segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Frac Sand Market Trends
Unconventional energy sources are being increasingly explored and given significant momentum over the past decade as readily available natural gas and crude oil supplies have been depleting. Unlike traditional oil and gas resources, which are rapidly depleting, unconventional resources are abundant in many countries, including the United States, Canada, China, and Argentina.
During the forecast period, this is expected to propel the frac sand market forward. The development of fine mesh frac sand, which improves the flow of natural fluids when they are released from the shale, is also aiding to propel the market forward. Other aspects that contribute to its popularity include its cost-effectiveness when compared to resin-coated and ceramic proppants.
Key Market Players
The major players in the market are CARBO Ceramics Inc., Covia Holdings Corporation, Badger Mining Corporation, Smart Sand Inc., U.S. Silica, and Hi-Crush Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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