The global proppant market is witnessing significant growth due to the increasing demand for proppants in the oil and gas industry. Proppants are small, hard particles that are mixed with fracturing fluids to keep hydraulic fractures open and to allow oil and gas to flow out of the well. According to a new report by VynZ Research, the global proppant market was valued at USD xx.x million in 2020 and is expected to grow at a CAGR of 10.4% from 2021 to 2027.

The growth of the global proppant market is primarily driven by the increasing demand for proppants in the oil and gas industry. The rise in shale gas exploration and production activities in North America and Asia-Pacific regions is expected to boost the demand for proppants in the coming years. In addition, the increasing use of ceramic proppants due to their superior properties such as high strength and thermal conductivity is also expected to drive the market growth.

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The global proppant market is segmented on the basis of type, application, and region. Based on type, the market is segmented into ceramic, resin-coated, and sand materials. The frac sand segment is expected to hold the largest share of the market in 2020, due to its low cost and high availability. Based on application, the market is segmented into shale gas, tight gas, coal-bed methane, and others. The shale gas segment is expected to hold the largest share of the market in 2020, due to the increasing shale gas exploration and production activities.

North America is expected to hold the largest share of the global proppant market in 2020, due to the increasing shale gas exploration and production activities in the region. Asia-Pacific is expected to witness significant growth during the forecast period, due to the increasing demand for energy in developing countries such as China and India. Europe and the Middle East and Africa are also expected to witness significant growth, due to the increasing adoption of hydraulic fracturing techniques in these regions.

The global proppant market is highly competitive, with the presence of several large and small players. Some of the key players operating in the market include Fores, Preferred Sands, Saint-Gobain Proppants Inc., CARBO Ceramics Inc., Superior Silica Sands LLC, Bagder Mining Corporation, JSC “Borovichi Refractories Plant”, Unimin Corporation, U.S. Silica Holdings Inc., and Fairmount Santrol Holdings Inc. These players are focusing on strategic initiatives such as mergers and acquisitions, partnerships, and product launches to strengthen their market position.

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