Market Snapshot:
Frac sand is defined as the naturally occurring crystalline silica sand which is processed from high-purity sandstone. It is widely used in the oil and gas industry for hydraulic fracturing. Frac sand is used to prop open fractures which are known as proppant. Increasing usage of frac sand in various application such as oil exploitation & natural gas exploration and rising demand for oil and gas extracted from unconventional resources is likely to be a prime driver for the global frac sand market.
Highlights from Frac Sand Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 4.53% |
The key Vendors profiled in the report are Chongqing Changjiang (China), Fairmount Santrol Inc. (United States), Source Energy Services (Canada), Mitsubishi Corporation (Japan), U.S. Silica Holdings Inc. (United States), CARBO Ceramics Inc. (United States), Qualicy Industries Pvt Ltd (India), Shiv Minerals (India) and Minehub (India).
Geographic Breakdown and Segment Analysis
The Global Frac Sand market presents a comprehensive analysis of the Frac Sand market by product type (Northern White Sand, Brown (Brady) Sand and Others), by end-user/application (Oil Exploitation and Natural Gas Exploration), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Frac Sand industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the Frac Sand market
Analyst at AMA have segmented the market study of Global Frac Sand market by Type, Application and Region.
Influencing Trend:
One of the Latest of this Market is the Rising Demand of Frac Sand for the Extraction of Petroleum Fluids
Market Growth Drivers:
Growth in the Oil and Gas Industry and Increasing Proppant Consumption Per Well and The Extensive Use of Frac Sand for Extracting Petroleum by the Fracking Process
Challenges:
Problem related to Water Availability and Contamination Concerns across the world
Restraints:
Issue related to Oversupply of Crude Oil and High Cost of Proppants
Opportunities:
Unconventional Oil and Gas Reserves and Rising Demand from Emerging Market such as China and India
Market Developments Activities:
In June 2022, ProFrac Holding Corp announced that its subsidiary ProFrac Holdings II, LLC acquired SP Silica of Monahans, LLC, and SP Silica Sales, LLC. It is a subsidiary of Signal Peak Silica. This acquisition was valued at approximately USD 90 million. With the acquisition, company has expanded its frac sand business.
In May 2022, Devon Energy Corp, one of the biggest oil explorers in the Permian Basin is entering into the sand business to combat rising costs. The company has launched a mobile frack-sand mine on 15,000 acres of land it owns in West Texas. With this launch, the company has entered in frac sand business.
The market appears to be highly fragmented and with the presence of several companies including U.S. Silica Holdings Inc. (United States), Fairmount Santrol Inc. (United States), Preferred Sands, Inc. (United States), among others.
Key Target Audience
Proppant Manufacturing Companies, Traders, Distributors, and Retailers, Raw material Suppliers, Commercial R&D Institutes and Research Institute, Trade Association, and Government Agencies