Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 119.65 Million

CAGR (2023-2028)

15.14%

Fastest Growing Segment

Shale Gas

Largest Market

Russia


Market Overview

The Europe Proppant Market was valued at USD 119.65 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 15.14% through 2028. Proppants are resilient materials composed of consistently sized particles. They are employed alongside fracturing fluid in the hydraulic fracturing (fracking) process to prop open fractures in the Earth's surface, facilitating the extraction of oil and gases. Proppants come in a diverse range of types, including both synthetically engineered and naturally occurring variations. An example of synthetic proppants includes sand coated with resin or robust ceramic materials. These proppants are available in various dimensions and shapes, such as spherical and cylindrical, serving diverse applications like coalbed methane, shale gas, tight gas, tight oil, and deep gas, among others. Proppants are minute, uniformly-sized solid particles used in hydraulic fracturing processes within oil and gas wells. They possess exceptional properties like resistance to heat and chemicals, high conductivity, and remarkable strength, collectively enhancing the extraction of oil and gas from these wells. To achieve this, proppants are injected into oil and gas-bearing rock formations under high pressure, approximately 12,000 psi, along with fracturing fluid. Here, they firmly prop open and extend the fractures, ultimately facilitating the rapid flow of natural gas and crude oil to the surface of the well. The interplay of these factors significantly contributes to the growth of the Europe Proppant Market within the projected timeframe.

Key Market Drivers

Raising Mining Activities Through Hydraulic Fracking to Recuperate