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Report Overview
The global frac sand market value reached around USD 8.94 Billion in 2023 due to a surge in hydraulic fracturing (fracking) activities, particularly in North America. The Permian Basin in Texas has become a hotspot for fracking, leading to increased demand for high-quality frac sand to serve as proppants during the extraction process. Additionally, the global shift towards renewable energy sources has spurred investments in natural gas extraction, further driving frac sand usage; companies like Hi-Crush Inc. are expanding their operations to meet this demand. As a result, the industry is expected to grow at a CAGR of 7.50% during the forecast period of 2024-2032 to attain a value of USD 17.14 Billion by 2032. The need for high-purity sand that can withstand extreme pressures is also leading to innovations in production techniques; leading to market expansion.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In 2023, the demand for sand mining has surged dramatically, with estimates indicating a tripling in demand over the past two decades, culminating in an annual extraction rate of approximately 50 billion tonnes. This increase is primarily driven by the construction industry, which relies heavily on sand as a fundamental material for concrete and other building applications. The United Nations Environment Programme has warned of a potential "sand crisis," highlighting the urgent need for sustainable practices in sand extraction to mitigate environmental impacts.
- In the United States, frac sand mining has intensified, particularly in states such as Wisconsin, Illinois, Minnesota, and Michigan, where high-quality sandstone deposits are abundant. Frac sand is crucial for hydraulic fracturing (fracking), a method used to extract oil and gas from shale formations. Each well can require up to 10,000 tons of sand, contributing to a significant portion of the total demand for industrial sand. As of 2023, the U.S. produced about 130 million tons of industrial sand and gravel, with frac sand accounting for approximately 81% of this total.
- Reports indicate that sand is now recognised as Earth's most mined material, with around 50 billion tons extracted annually from various aquatic and coastal environments. This extensive mining activity calls for stricter regulations to balance economic needs with ecological preservation. The ongoing global shale oil and gas boom is not limited to North America; countries like Argentina, China, and Russia are also exploring their shale reserves, further driving demand for frac sand.
Competitive Landscape
Major players in the market are increasingly expanding their presence through the development of existing and new mining facilities. Several companies in the global frac sand market are experiencing growth through various strategic initiatives. One of the primary approaches is expanding production capacity, with many companies opening new mines or enlarging existing facilities to meet the rising demand for frac sand, particularly in regions with significant fracking activity. Additionally, investments in advanced technologies for mining, processing, and quality control of frac sand are becoming increasingly common.
Key Industry Players
CARBO Ceramics Inc.
CARBO Ceramics Inc., established in 1902, has built a reputation for its innovative ceramic proppant products, which are used in hydraulic fracturing to enhance the productivity of oil and gas wells. The company's products are designed to provide superior strength and conductivity, ensuring efficient extraction processes.
Covia Holdings Corporation
Covia Holdings Corporation, formed from the 2018 merger of Unimin Corporation and Fairmount Santrol, is a leading provider of mineral-based solutions, including high-quality proppants for hydraulic fracturing. The company's extensive portfolio includes a variety of sand and resin-coated proppants that cater to the diverse needs of the oil and gas market.
Badger Mining Corporation
Badger Mining Corporation, a family-owned business since the early 1900s, specialises in the mining and processing of industrial silica sand. The company's proppants are known for their quality and consistency, making them a preferred choice for hydraulic fracturing operations across North America.
Smart Sand, Inc.
Smart Sand, Inc., established in 2011, focuses on the production and supply of premium Northern White frac sand, a key proppant used in hydraulic fracturing. The company's state-of-the-art facilities and strategic location near major oil and gas basins allow it to efficiently meet the demands of its clients.
Other key players in the global frac sand market are U.S. Silica, and Hi-Crush Inc., among others.
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 2023, the market reached an approximate value of USD 8.94 Billion.
The market is assessed to grow at a CAGR of 7.50% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 17.14 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
+61-448-061-727
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.
+63-287-899-028, +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
+84-865-399-124