DUBLIN, June 20, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Frac Sand Market 2016-2020" report to their offering.
The global frac sand market to grow at a CAGR of 10.29% during the period 2016-2020.
Global Frac Sand Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The global frac sand market has become an integral part of the oil and gas sector due to the increasing demand for oil and gas extracted from unconventional resources. Some of the key consumers of frac sand are oil and gas companies operating in the shale formations in the US and Canada.
The players on the supply side as well as demand side engage in business by forming contracts. The expiry of some of these contracts in 2015 has created much uncertainty on the demand side. In addition, falling oil prices negatively impacted the demand for frac sand. Consumers operating in shale formations like Eagle Ford and Permian basin have reduced drilling, and as a result, there has been a continuous decline in the number of rigs.
According to the report, a key growth driver is the technological advances being made in the oil extraction processes. The extraction of oil and natural gas from conventional resources in North America and ROW has been experiencing a decline. The majority of conventional oil and natural gas resources is already being accessed. Oil and gas production from unconventional resources such as shale and tight sandstone was not considered to be an economically viable option. Unlike the conventional reserves of oil and natural gas, oil and gas in these tight petroleum reservoirs do not flow naturally through the rock, making them much more difficult to extract. However, the introduction of hydraulic fracturing has changed the oil and gas industry, especially in the US, where shale gas is produced in significant volumes at relatively low costs.
Further, the report states that one challenge that could hamper market growth is a decrease in oil prices and reduced drilling activity.
- Emerge Energy Services
- Hi-Crush Partners
- Northern Frac Proppants
- US Silica
Other prominent vendors
- Chieftain Sand
- Hanson Lake Sands
- LaPrairie Group
- Source Energy Services
- Victory Nickel
- Vista Sand
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Oil and gas industry analysis
Part 06: Shale gas industry outlook
Part 07: Proppant industry outlook
Part 08: Market landscape
Part 09: Market segmentation by geography
Part 10: Market drivers
Part 11: Impact of drivers
Part 12: Market challenges
Part 13: Impact of drivers and challenges
Part 14: Market trends
Part 15: Vendor landscape
Part 16: Key vendor analysis
Part 17: Appendix
For more information visit http://www.researchandmarkets.com/research/m3pjhd/global_frac_sand
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SOURCE Research and Markets