Global Stimulation material market is anticipated to hold most significant shares by 2024

(EstateNewsWire.com, January 08, 2018 ) Global Stimulation material market is expected to grow at a CAGR of 6.79% during the forecast period. Factors involved in the growth of the Stimulation materials market include increased demand for unconventional energy sources and depletion of oil and gas sources across the globe.

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Proppants hold the largest share in Stimulation material market

Based on product type, Stimulation materials market is segmented as Proppants, Base fluid materials, Polymer gelling agent, Biocides and Anionic Surfactants. Among these, Proppants hold the largest share in the market owing to increased usage in oil and gas industries for hydraulic fracturing process in well stimulation process. Surfactants are expected to maintain significant shares in the market during the forecast period. Proppants are extensively used to detect hydraulic fracturing and to be resistant to downhole conditions in the process of digging wells. In addition to the properties like light weight and low viscosity to transport has made the usage of Proppants significant in oil industries.

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North America held the largest share in the market in 2017

As a result of evolving technology, North America held the most significant share in the market in 2017 owing to increasing demand for unconventional energy sources in various industries across the region. Europe and Asia-Pacific follow North America. Asia-Pacific is anticipated to hold significant shares in the market during the forecast period owing to increasing funds in the production of stimulation materials in major countries like Japan and China.

The crucial players in the Stimulation materials market include Badger Mining Corporation, Baker Hughes, Baltic Ceramics, Halliburton and Fairmount Santrol Holding Inc among others.

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