Market Size of North America Proppants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Proppants Market Analysis
The North America Proppants Market is estimated to register a CAGR of over 7% during the forecast period.
During the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, production halts, and labor unavailability negatively impacted the market. However, the conditions started recovering in 2021, which will likely restore the market's growth trajectory during the forecast period.
- Over the short term, improvements in fracking technology, increasing usage of frac sand (quantity per well), and increasing shale gas production activities are the major driving factors augmenting the growth of the market studied.
- On the flip side, environmental concerns and legislation are anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, shifting focus toward the usage of ceramic proppants is likely to create lucrative growth opportunities for the market soon.
- The United States is the largest market for proppants. It is expected to witness the highest CAGR during the forecast period.
