Low Strength Proppants Market To Boom in North America in Coming Years

From $3,713.3 million in 2019, the low strength proppants market revenue is expected to surge to $5,294.8 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 9.8% from 2020 to 2030 (forecast period). The market is being propelled by the surging oil and gas exploration and production (E&P) activities and rapid technological advancements and innovations in crude oil recovery. 

The players operating in the Asia-Pacific (APAC) and North American regions are making huge investments to improve exploration of new oil and gas reserves. Additionally, power production, especially in the U.S., is predicted to surge massively in the coming years, owing to the development of novel and improved technologies. This is subsequently predicted to propel the use of low-density proppants, which will, in turn, drive the progress of the low strength proppants market. 

U.S. oil and gas explorers are increasingly focusing on extracting shale gas in the country. As per the U.S. Energy Information Administration (EIA), in 2019, the shale gas production in the country accounted for 75% of the total natural gas production. Thus, with soaring exploration and production activities in shale gas reserves, the demand for low-strength proppants will surge sharply in the coming years. Across the globe, the North American low strength proppants market is predicted to demonstrate the fastest growth in the coming years.

The addition of this mine would make the company the U.S.’s largest in-basin sand provider, with a combined capacity of more than 19 million tons every year. Likewise, Alpine Silica began the development of two new plants in Fay in Oklahoma and Van Horn in Texas in June 2018, thus adding to its already existing portfolio in the Permian basin. The organization primarily serves frac sand for the oil and gas industry to improve recovery rates. These factors are predicted to push up the demand for low-density proppants in the forthcoming years.

Hence, the sales of low-strength proppants will surge sharply in the coming years, primarily because of the increasing oil and gas exploration and production activities all over the world. 

Comments

Post a Comment

Popular posts from this blog

Surging E&P in Shale Gas Reserves Propelling Demand for Well Cementing

Image
With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to gro...
Read more

How Will Cooling Appliance Demand Propel Insulation Market Growth?

Image
Factors such as the escalating demand for refrigerators and air conditioners, mounting infrastructure expenditure in developing countries, such as Brazil, China, India, and Russia, and increasing government support toward the installation of insulation systems in buildings are expected to drive the insulation market growth between 2018 and 2025. According to P&S Intelligence, the market will generate $101.3 billion revenue by 2025. Nowadays, governments of several countries are offering regulatory support to the installation of insulation products to improve energy efficiency.  The rising demand for air conditioners and refrigerators, on account of the soaring global temperature and the booming world population, is one of the major contributors to the market growth worldwide. The National Aeronautics and Space Administration estimates that the average surface temperature of the Earth has risen by 2.12 oF in 2020 since the late 19th century.  As per NASA, the years 2016 an...
Read more

Solar Encapsulant Industry Set to Exhibit Huge Expansion in Future

Image
The widescale installation of photovoltaic (PV) modules, continuous research and development (R&D) in solar cell technologies, and advent of crystalline silicon solar technology are expected to drive the market for solar encapsulant at a CAGR of 28.4% during the forecast period (2018–2023). The market generated a revenue of $1,036.0 million in 2017 and it is projected to generate $4,555.4 million by 2023. Moreover, the escalating awareness among people regarding the benefits of the solar cell technologies will propel market growth in the coming years. One of the prominent trends currently being observed in the solar encapsulant market is the rising incorporation of thin-film solar cell technology. This is mainly credited to the fact that the conventionally used crystalline silicon solar technology-based solar modules have high production costs and fragile nature. In addition to this, the thin-film solar cell technology has lower costs than the crystalline silicon solar technology ...
Read more