According to a new report by Expert Market Research titled, “Global Frac Sand Market Share, Size, Report and Forecast 2024-2032″, the global frac sand market reached a value of USD 8.32 billion in 2023. Aided by the surging demand in hydraulic fracturing activities and an upswing in oil and gas exploration, the market is projected to further grow at a CAGR of 7.50% between 2024 and 2032 to reach a value of USD 12.83 billion by 2032.
Frac sand, also known as proppant, is a high-purity quartz sand with superlative crush-resistant properties, ideally suited for hydraulic fracturing in the oil and gas industry. This sand plays a pivotal role in keeping an induced hydraulic fracture open during the fracking process, thus facilitating the flow of hydrocarbons. In addition to its robust mechanical properties, frac sand’s uniformity in grain size makes it highly sought after in the extraction process.
One of the primary accelerators of the frac sand market growth is the burgeoning demand for energy worldwide. As traditional energy resources deplete and the quest for unconventional resources intensifies, hydraulic fracturing emerges as a pivotal method to extract natural gas and oil from deep rock formations. This has directly led to a surge in the demand for high-quality frac sand.
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Moreover, technological advancements in drilling techniques and a subsequent rise in horizontal drilling have further magnified the frac sand market demand. Horizontal drilling requires more proppant per well, as it covers a more extensive section of the rock formation, thereby pushing the frac sand market to new heights.
In addition to the oil and gas industry, the use of frac sand in other sectors is also noteworthy. Its unique properties, such as high-silica content and consistent grain size, are being explored in various industrial applications, including glass manufacturing and foundry works. These expanding domains of application add value to the frac sand market size.
Furthermore, the strategic investments and expansions of major players in the oil and gas industry, particularly in North America, have led to an increasing demand for frac sand. The United States, with its flourishing shale oil and gas industry, stands out as a dominant consumer of frac sand, closely followed by Canada.
As per the frac sand market analysis, ongoing research aiming to make the fracking process more environmentally friendly, coupled with the undying global energy demand, continues to offer robust support to the frac sand industry.
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Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
• White Sand
• Brown Sand
• Others
Market Breakup by Application
• Oil Exploration
• Natural Gas Exploration
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global frac sand market. Some of the major players explored in the report by Expert Market Research are as follows:
• CARBO Ceramics Inc.
• Covia Holdings Corporation
• Badger Mining Corporation
• Smart Sand, Inc.
• U.S. Silica
• Hi-Crush Inc
• Others
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