This Week’s Market Buzz
- Published: Wednesday, 22 March 2017 11:14
- According to Stratistics MRC, the global proppant market is estimated at $58.46 billion in 2015 and is expected to reach $143.46 billion by 2022 growing at a CAGR of 13.68 percent from 2015 to 2022. A shift towards alternative energy resources is the key factor favoring market growth. The increasing demand for energy and unconventional gas are the key drivers, whereas the high logistics cost is inhibiting proppant market growth. The future growth lies in potential explorable reserves. Frac sand is the leading segment accounting for around 86 percent of the market, while resin-coated proppants and ceramic proppants stand at around 14 percent. North America accounted for the highest market share as compared to other regions.