Low strength Proppants Market Research Report: By End Use (Shale Gas, Crude Oil, Coal-Bed Methane) - Global Industry Analysis and Demand Forecast to 2030 The major factors propelling the growth of the global low strength proppants market are the increasing exploration and production (E&P) activities in the North American nations and the soaring technological advancements being made in the crude oil recovery process.
New York, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Low strength Proppants Market Research Report: By End Use - Global Industry Analysis and Demand Forecast to 2030" - https://www.reportlinker.com/p05982429/?utm_source=GNW
Due to these factors, the market is predicted to advance at a CAGR of 9.8% from 2020 to 2030 and generate a revenue of $5,294.8 million by 2030. Low strength proppants are extensively used in oil and gas E&P activities as they have the ability to drastically increase the flow of oil and gas.
Depending on end-use, the low strength proppants market is divided into coal-bed methane, shale gas, crude oil, and others. Out of these categories, the crude oil division is predicted to exhibit the fastest market growth in the coming years. This is ascribed to the fact that there are over 400 billion recoverable shale oil barrels across the U.S., the U.K., Russia, and Saudi Arabia, and the low strength proppants are widely required for exploring these reserves.
The oil and gas explorers in the U.S. are increasingly focusing on the extraction of shale gas. As per a report published by the U.S. Energy Information Administration (EIA), the total shale gas production in the country was found to be 75% of the total natural gas production across the country in 2019. Hence, with the ballooning production of shale gas in the country, the usage of low strength proppants will increase in shale gas exploration in the future years.
Globally, the North American low strength proppants market is predicted to demonstrate the highest growth in the upcoming years, mainly on account of the increasing investments being made by the major market players in the region. Additionally, the soaring natural gas and crude oil exports are tremendously boosting the utilization of low-density proppants in the region.
The major market players are rapidly expanding their operations across the globe in order to gain a foothold in the market. For example, in August 2018, Black Mountain Sand LLC, a leading market player, announced its plans of expanding its operations in Western Oklahoma’s Mid Continent, that will have a production capacity of 3 million tons every year. The addition of this mine will increase the annual capacity of the company to more than 19 million tons, making it the largest in-basin sand providing organization in the U.S.
Similarly, Alpine Silica, another key market player, set up two new production plants in Van Horn, Texas and Fay, Oklahoma in June 2018. These new facilities increased the company’s presence in the Permian basin. The company supplies frac sand to the oil and gas sector. This material is required in the oil and gas sector for enhancing the recovery rates. Due to these factors, the usage of low-density proppants will increase sharply in the U.S. in the forthcoming years.
Black Mountain Sand LLC, Hi-Crush Inc., Superior Silica Sands LLC (a subsidiary of Emerge Energy Services LP), Atlas Sand Company LLC, and U.S. Silica Holdings Inc. are some of the leading players in the low strength proppants market.
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