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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.
Frac Sand Market Trends
There is a growing preference for high-grade frac sand with superior properties, such as high crush resistance and purity, to enhance the efficiency of the fracking process. For example, High-quality frac sand must withstand pressures up to 14,000 PSI, ensuring that it maintains its integrity during the fracturing process. This durability is crucial as it prevents the proppant from breaking down under extreme conditions, which can otherwise hinder oil and gas flow, further fuelling frac sand market revenue.
The demand for finer mesh frac sand is also rising due to its ability to improve fluid flow during fracking operations. Fine mesh sands can enhance recovery rates while being more cost-effective than alternative proppants like resin-coated and ceramic options. In 2022, the U.S. shale industry consumed approximately 112 million tons of proppant, with a significant portion being finer mesh sands as operators increasingly recognise their benefits in enhancing well productivity.
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