- he global market for perovskite and other thin film solar module should grow from $3.7 billion in 2017 to $5.2 billion by 2022 at a compound annual growth rate (CAGR) of 7.0% from 2017 to 2022.
- The global market for process oils should grow from $5.1 billion in 2017 to $6.0 billion by 2022 at a CAGR of 3.5% from 2017 to 2022.
- The U.S. market for fracking fluids should grow from $10.7 billion in 2017 to $15.1 billion by 2022 at a CAGR of 7.0% from 2017 to 2022.
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Energy industry greatly impacts the lives of everyone, and every nation strives to achieve energy independence by utilizing the natural resources be it conventional fossil fuels or renewable sources. Advancements in technology has changed the landscape of the energy industry, for example the shale revolution has made US a net exporter of oil from being one of the largest importers of the commodity. Likewise, concerns about the depleting resources in the form of oil reserves, gas reverses, and ill effects of dependence on fossil fuels like coal has given a renewed thrust on researching renewable energy technologies to reduce the harmful impact on the environment as well as create energy sustainability for long term.
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As per EIA the primary energy consumption in 2015 stood at REDACTED quadrillion Btu, and it is projected to grow to REDACTED quadrillion Btu by 2050. The primary energy consumption grew by REDACTED from 2016 to 2017. Of this Oil and Natural gas accounted for REDACTED of the primary energy consumed in terms of million tons of oil equivalent. Renewables (excluding Hydropower) accounted for REDACTED of the total primary energy consumed in 2017, a growth of REDACTED over the previous year.
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