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Oct 03, 2018 (MarketersMedia via COMTEX) -- Global Fracking Proppants market is estimated at $58.46 billion in 2015 and is expected to reach $143.46 billion...
The Global Fracking Proppants 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% from 2015 to 2022.
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Global Fracking Proppants Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023
The global fracking proppants market was valued at USD 64.7 Billion in 2016, is expected to reach USD 146.9 Billion by 2023, growing at a CAGR of 12.4 % from 2017 to 2023. Major factor driving the growth of global fracking proppants market is the increase in global energy demand coupled with large recoverable reserves of shale gas in the Asia-Pacific region. The increasing consumption of fracking proppants per well to improve its productivity is anticipated to further drive the global fracking proppants market. Additionally, the shifting focus towards the production of unconventional gas further anticipated to drive the growth of fracking proppants market.
On the basis of product, frac sand held the major share of fracking proppants market and is expected to sustain its dominance, throughout the forecast period. Additionally, ceramic proppant is anticipated to be the fastest growing product of fracking proppants. On the basis of application, shale gas was the largest segment for the global fracking proppants market, in 2016.
Geographically, North America accounted for the major market share and is expected to hold the largest market share, during the forecast period. Furthermore, Asia-Pacific is expected to be the fastest growing region registering the highest growth, during the forecast period.
