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Report Overview
The global frac sand market reached approximately USD 8.94 billion in 2023. The market is assessed to grow at a CAGR of 7.50% between 2024 and 2032 to attain a value of around USD 17.13 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In 2023, sand mining for construction materials has surged, tripling in demand over the past two decades to an annual rate of 50 billion tonnes.
- In the U.S., intensive mining of frac sand occurs in large areas of Wisconsin, Illinois, Minnesota, and Michigan, extracting it from sandstone deposits.
- According to reports, sand is Earth's most mined material, with 50 billion tons extracted annually from various aquatic and coastal environments.
Frac Sand Market Trends
Increasing Hydraulic Fracturing Activities
The growing demand for oil and natural gas, particularly from unconventional sources like shale formations, has led to an increase in hydraulic fracturing activities, which require large quantities of frac sand. For instance, the U.S. is the largest producer of crude oil, with an average production of approximately 12.8 million barrels per day (b/d) in 2024, expected to grow by 1.5 million b/d in both 2024 and 2025 due to increased output from shale formations.
A crucial trend of frac sand market is that as conventional oil and gas reserves become depleted or harder to access, the focus has shifted towards unconventional sources such as shale formations. Extracting hydrocarbons from these formations requires hydraulic fracturing (fracking), a process that relies heavily on frac sand to prop open the fractures in the rock, allowing oil and gas to flow to the surface. This increased reliance on hydraulic fracturing to meet energy demands has directly translated into a surge in the need for frac sand, making it a critical component in the energy extraction process.
Technological Advancements in Drilling and Extraction
Advances in drilling and extraction technologies have made hydraulic fracturing more efficient and cost-effective, thereby boosting the demand for frac sand. For example, Halliburton is a leader in hydraulic fracturing services, employing advanced technologies to optimise fracturing operations. Their innovative approaches include electric fracturing platforms and real-time monitoring systems that improve efficiency, reduce costs and can boost frac sand market value.
The evolution of drilling and extraction technologies has been a game-changer for the market. Innovations such as horizontal drilling and improvements in fracking techniques have made it possible to access previously unreachable or uneconomical reserves. These advancements have not only increased the efficiency of hydraulic fracturing but also reduced its overall costs, making it a more attractive option for oil and gas producers. For example, the combination of horizontal drilling and hydraulic fracturing has led to significant cost reductions in drilling operations, with reports indicating a decrease of 15-20% in costs for drilling and well completions.
Frac Sand Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2022, the market reached a value of USD 8.94 billion in 2023.
The market is projected to grow at a CAGR of nearly 7.50% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 17.13 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, and rising oil and gas market.
The cost-effectiveness of frac sand, the increasing research and development (R&D) activities aimed at launching high-efficiency and high-quality frac sand, and the growing adoption of shale fracturing in oil and gas extraction are the key trends guiding the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
White sand and brown sand, among others, are the various types of frac sand.
Oil exploration and natural gas exploration, among others, are the major applications of frac sand.
The leading players in the market are CARBO Ceramics Inc., Covia Holdings Corporation, Badger Mining Corporation, Smart Sand, Inc., U.S. Silica, and Hi-Crush Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124