LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global frac sand market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global frac sand market is expected to reach USD 11.9 billion by 2022. Growth in the oil and gas industry is a major factor driving the market’s growth. In countries such as the US, Brazil, Mexico, Saudi Arabia, China, Russia, and Norway the increase in O&G exploration activities are expected to drive the demand for frac sand. The extensive use of frac sand for extracting petroleum by the fracking process will have a positive impact on the global frac sand market. The growing acceptance of horizontal drilling and hydraulic fracturing techniques will increase the consumption of frac sand during the forecast period.
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In this report, Technavio highlights the rising demand for fine mesh raw frac sand as one of the key emerging trends in the global frac sand market:
Rising demand for fine mesh raw frac sand
Fine mesh raw frac sand is a proppant used for extracting oil and natural gas and improving their flow. When compared with other proppants such as resin-coated sand and manufactured ceramics, it proves to be cost effective. The rising use of fine mesh raw frac sand as a proppant is an upcoming trend in the global frac sand market. In countries such as the US, the consumption of fine mesh raw frac sand has increased owing to technological advances and increased demand for petroleum products in the country.
“The demand for high-quality fine mesh raw frac sand will continue to increase due to long-term developments. The development of unconventional oil and natural gas reservoirs will increase the consumption of frac sand. The O&G industry is increasingly using cost-effective proppants such as fine mesh frac sand. The size varies from 40 to 100 mesh. Fine sand particles enhance the flow of oil,” says a senior analyst at Technavio for research on specialty chemicals.
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Global frac sand market segmentation
This market research report segments the global frac sand market into the following types (white sand and brown sand) and key regions (the Americas, APAC, and EMEA).
The white sand segment held the largest market share in 2017, accounting for nearly 65% of the market. The market share for this type is expected to decrease by 2022. The fastest growing type is brown sand, which will account for nearly 36% of the total market share by 2022.
The Americas was the leading region for the global frac sand market in 2017, accounting for a market share of nearly 77%. By 2022, the Americas is expected to continue dominating the market and register the highest growth rate.
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