On June 24th, KELRIK LLC, in conjunction with PropTester, Inc., issued an update to their annual Proppant Market Report (PMR). The 2013 PMR noted previous growth of 28 percent in the market from 2012 with indications pointing to consistent growth throughout 2014. The continued boom in natural gas development has created a high demand for proppants, which are used during the frac stage. According to their press release, KELRIK LLC and Proptester, Inc are now expecting, "Increases of 30 percent or more in base proppant demand are now expected through the remainder of 2014 in North America." Reports such as the PMR demonstrate the importance of industrial minerals to other industries and our economy as a whole.
To read the full press release click here