The low strength proppants market will grow at a significant pace in the years to come. This has a lot to do with the Increasing exploration & production activities and technical progressions for recovery of crude oil are some of the main factors pushing the industry all over the world.
In the recent past, North America was the regional dominator, which has a lot to do with the increase in the count of drilled wells, accompanied by detections of unconventional oil and gas reserves. Furthermore, the region has both conservative and eccentric resources in plenty, and for extracting these resources, low-density proppants are needed in high volumes.
In the past, the North America significantly contributed in conventional and unconventional oil & gas production. U.S. has approximately 80% of the newly drilled wells. Canada too is gathering pace with the opening up of its shale reserves for profitable exploration. With the growing E&P activities, the consumption of low-strength proppants will increase, because of its ability to surge the flow of oil or gas throughout hydraulic fracturing procedure.
Market stalwarts of North American and APAC are making hefty technological investments for enhancing exploration of new oil & gas reserves. Furthermore, energy production, mainly in the U.S., will experience massive growth, because of which new and improved technologies are developed for ensuring high business growth and easy recovery procedures. This, in line, will increase the consumption of low-density proppants and thus boost the low strength proppants market around the world.
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