Stimulation Materials Market to Reach US$2.1 Billion by 2026: IndustryARC
The rapidly growing energy demand worldwide is increasing demand of unconventional gas resources which will augment the growth of Stimulation Materials Market
The rapidly growing energy demand worldwide is increasing demand of unconventional gas resources which will augment the growth of Stimulation Materials Market
HYDERABAD, TELANGANA, INDIA, December 20, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Stimulation Materials Market size is forecast to reach US$2.1 billion by 2026, after growing at a CAGR of 7.9% during 2021-2026. An increase in the oil & gas onshore and offshore gas exploration activities has led to robust demand for stimulation materials. Proppants like frac sand and resin coated are stimulation materials, which are highly demanded for hydraulic fracturing application for shale gas exploration and production activity. According to the India Brand Equity Foundation (IBEF), the oil and gas industry is expected to attract US$ 25 billion investments in exploration and production by 2022. Therefore, the increasing investment in oil & gas production will influence the growth of stimulation materials. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more. Click here to browse the complete report summary:URL Flashing year-end sale URL IndustryARC..!!Buy any Report using 'FLAT1000'& Get FLAT 1000$ OFF, Grab the offer before it is gone. Key takeaways: This IndustryARC report on the Stimulation Materials Market highlights the following areas - 1. North America dominated the market share in stimulation materials market due increasing shale gas exploration activities and onshore & offshore oil & gas production. 2. According to Canadian Association of Petroleum Producers (CAPP), investments in oil sands operations and conventional oil & gas production are expected to rise nearly from US$19 billion (C$24 billion) in 2020 to US$21 billion (C$27 billion) in 2021. 3. Proppants such as frac sand, ceramics, resin coated sand play an important role in the hydrofluoric fluids process. Proppants helps to allow fluids and gas to move around the wells. Therefore, the demand of stimulation materials is increasing. Interested in knowing more relevant information? Click here:URL.php?id=502892 Segmental Analysis: 1. Proppant segment held the primary material type of stimulation materials market in 2020, as it is widely used in shale gas extraction. Growth in domestic shale gas production is helping to reduce US natural gas prices and built a stable supply of natural gas for fuel and power. Natural gas use for electricity generation is poised to increase due to low natural gas prices therefore, the demand of proppant such as frac sand, ceramic, and resin-coated is expected to increase. 2. North America held the largest share in the stimulation materials market in 2020 with 30%, due to increasing oil & gas production and projects in this region. United States is the largest oil & gas consumer in the world. According to U.S. Energy Information Administration (EIA), crude oil production is expected to rise on average 11.1 million b/d in 2021 and 12.0 million b/d in 2022. Hence, residential commercial and industrial natural gas consumption is expected to reach 13.1 Bcf/d, 9.3 Bcf/d and 23.8 Bcf/d, respectively in 2021, according to EIA. 3. Onshore oil & gas production held the largest share by application in stimulation materials market in 2020, and is growing at a CAGR 8.2% in 2021, due to increasing usage of stimulation material in onshore and offshore oil & gas production. Stimulation material such as gelling agent is used for increasing viscosity of hydrofluoric fluids. Friction reducer as an alternative of gelling agent helps to prevent formation plugging and piping in the wells. Competitive Landscape: The top 5 players in the Stimulation Materials Industry are - 1. Linde Group2. Chevron Phillips Chemical Company3. FMC Corporation4. U.S. SILICA5. Carbo Ceramics Click on the following link to buy the Stimulation Materials Market Report:URL Why Choose IndustryARC? IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports. Related Reports: A. Generalized Anxiety Disorder Market__URL__.html B. Steel Industry Materials Market__URL__.html Contact Us:Mr. Venkat ReddyIndustryARCEmail: EMAIL, __EMAIL__SA: (+1) 970-236-3677, (+1) 815-656-4596IND: (+91) 40-485-49062 Venkat Reddy
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