2 July 2019 – The
Global Frac Sand Market is expected to
display higher growth rate in the upcoming period. Rapid surge in the market is
credited to the increasing oil exploration activities and rising demand from
oilfield supply industry. Increasing adoption of frac sand for hydraulic
fracturing in oil & gas industry is expected to drive the growth of the
market over the forecast period. Globally, frac sand market is predicted to
generate massive revenue over the forecast period, providing numerous
opportunities for industry participants to invest in research and development
of frac sands.
Frac sand is commonly termed as sand with small and uniform
particles, thus allowing flow of fluids like water, oil, and gas easily through
the spaces during fracking. Frac sand is increasingly used for process of
hydraulic fracturing, also called as fracking, in which the sand is compressed
onto the rock formation along with the water, thereby fracturing the rock.
Rising number of mining activities across the globe is the key market trend
associated with frac sand market over the forecast period.
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Increasing use of frac sand as a proppant is further
fostering the growth of frac sand market over the past few years. In addition,
growing preference towards frac sand as a proppant over ceramic beads, aluminum
beads and sintered bauxite due to high performance capabilities and cost
effectiveness is anticipated to fuel market demand over the coming years.
Asia-Pacific region is estimated to hold a major share in
the frac sand market with massive growth in forecast period. Countries such as
Japan, China and Australia are leading the Asia-Pacific market with strong
economic growth, rising oil exploration activities, increasing mining
activities, and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the frac sand market are The HORIBA
Group, Athabasca Minerals Inc., Frac Sand McLanahan Co., Sierra Frac Sand,
Inc., and Black Mountain Sand Corp.
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