The new report by Expert Market Research titled, ‘Global Low Density Ceramic Proppant Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global low density ceramic proppant 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)
- Forecast CAGR (2023-2028): 7%
The low density ceramic proppant industry is driven by the increasing demand from the oil and gas sector. The rising energy demands from across industry verticals is leading to the increased implementation of hydraulic fracturing to extract more oil and gas resources. In addition, the weather changes at the oil and gas extraction sites and equipment delays result in the increased use of ceramic proppants in hydraulic fracturing, which is estimated to support the market growth.
Furthermore, the exceptional characteristics of this product such as non-reactivity with other fluids, high mechanical strength, superior conductivity, and cost-effectiveness are projected to lead to the extensive application of low density ceramic proppant in the forecast period.
Industry Definition and Major Segments
Low density ceramic proppant is used in the process of hydraulic fracturing. Hydraulic fracturing or fracking refers to the oil and gas well development process, which is conducted in low permeable petroleum-bearing rocks by injecting water, chemicals, or sand under high pressure to ease the flow of oil or gas.
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The low density ceramic proppant industry, based on type, can be segmented into:
- Small Mesh
- Large Mesh
On the basis of application, the market is classified into:
- Oil and Gas
The regional markets for low density ceramic proppants include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The low density ceramic proppants are widely used in industries and construction sites as they are durable and have high mechanical strength. The use of ceramic proppants increases the quality of the end product while reducing the cost. In addition, the rapid urbanisation and government initiatives to improve the country’s infrastructure are estimated to bolster the demand for low density ceramic proppant.
Furthermore, these low density ceramic proppants are environmentally friendly, as they are prepared from recycling coal gangue, a by-product of coal mining and coal washing.
Key Market Players
The major players in the market are CARBO Ceramics Inc., Fineway Inc., Chongqing Changjiang River Moulding Material Group Co., Ltd (CCRMM), and SEPPE Technologies, 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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