Synthetic Proppants Market Introduction:

  • Synthetic proppant is a solid material designed to keep hydraulic fracture open during treatment. Hydraulic fracture is a widely used process in gas companies. Under the process, chemicals, injecting sand, and water are inserted into a well under carefully controlled conditions to crack or fracture solid rocks and release trapped gas deposits.
  • Based on type, the synthetic proppants market can be segmented into ceramic beads, aluminum beads, sintered bauxite, coated sand, and others. Ceramic proppants are manufactured from kaolin clay or non-metallurgical bauxite, which is sintered to reduce the water content and increase density, roundness, and strength.

Key Drivers of Synthetic Proppants Market

  • Rise in usage of proppants in the oil & gas industry has boosted the demand for proppants across the globe. Various types of proppants are used in the fraction process; however, synthetic proppants provide better performance under high pressure conditions in reservoirs at greater depth. This is anticipated to augment the synthetic proppants market during the forecast period.
  • Development of the hydraulic fracturing technology has led to the usage of proppants. Proppants are used during hydraulic fracturing to keep the fissures open for oil and gas to flow toward the well head. There are primarily three types of proppants: sand, resin-coated, and ceramic. The proppants market has been expanding in most of the emerging economies. The market entails significant investment. Traditional drilling methods incur high cost and can adversely affect the availability of resources. Synthetic proppants play a vital role in the extraction process by keeping the supplies of natural gas and oil unhindered. This is fuelling the synthetic proppants market.

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Restraints of Synthetic Proppants Market

  • Implementation of stringent government regulations to reduce hydraulic fracturing due to its hazardous environmental impact is hampering the market. Dearth of universal directives pertaining to applications of synthetic proppants is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of synthetic proppants. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the synthetic proppants market, thereby adversely affecting the market.
  • Lack of awareness and less adoption of synthetic proppants in many developed and underdeveloped countries is projected to restrain the market during the forecast period

COVID-19 impact on Synthetic Proppants Market

  • The COVID-19 outbreak is hampering the demand for synthetic proppants in many applications. Many governments across the globe have enforced lockdown to curb the spread of the disease. These lockdowns have resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. This is adversely affecting the demand for synthetic proppants.
  • Key players operating in the synthetic proppants market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials.

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Asia Pacific to Hold Major Share of Synthetic Proppants Market

  • In terms of region, the global synthetic proppants market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to be a rapidly growing region of the synthetic proppants market owing to the rise in demand for these proppants in hydraulic fracturing application for exploration of unconventional natural oil and gas. Synthetic proppants are widely used, as they offer higher resistance to crushing. They also possess higher permeability under high confining stress. China, Japan, and India are the key countries of the synthetic proppants market.
  • North America accounts for major share of the market. The market in the region is expected to expand significantly in the near future owing to the increase in drilling activities for shale gas in the U.S. and Canada. The market in Europe is anticipated to expand at a significant pace during forecast period, due to the increase in consumption of synthetic proppants in various applications in the region.
  • Latin America and Middle East & Africa also constitute key share of the global synthetic proppants market

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Global Synthetic Proppants Market Key Players

Major players operating in the synthetic proppants market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include

  • Fortress Proppants Ltd
  • Fairmount Santrol
  • Badger Mining Corporation (BMC)
  • S. SILICA
  • CARBO Ceramics
  • Hi Crush LP Partners
  • Momentive Specialty Chemicals Inc.
  • JSC “Borovichi Refractories Plant”
  • Mineracao Curimbaba Ltd.
  • Yixing Orient Petroleum Proppant Co. Ltd.

Companies in the Synthetic Proppants market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.

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