Market Insights
As per recent research by MarkNtel Advisors, The Saudi Arabia Proppants Market size is projected to grow at a CAGR of around 6.12% during the forecast period, i.e., 2024-30.
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Saudi Arabia Proppants Market Driver:
Increasing Exploration of Shale Gas to Enhance Market Growth – During the historical years, Saudi Arabia, traditionally reliant on conventional oil reserves, is now seeking to diversify its energy sources. Exploring shale gas reserves offers an opportunity to supplement its energy portfolio with a domestically sourced alternative to conventional oil and gas. Shale gas extraction relies heavily on hydraulic fracturing, also known as fracking. This process involves injecting a mixture of water, sand (proppants), and chemicals into shale formations at high pressure to create fractures and release trapped gas. For instance,
- In 2021, Saudi Aramco’s awarded a contract worth USD 10 billion for its giant Jafurah project finally fired the starting gun to develop what is thought to be the world’s biggest shale gas field, and the Kingdom is estimated to be sitting on the fifth largest shale gas reserves in the world.
Hence, the successful exploration and production of shale gas require significant infrastructure development, including drilling rigs, well pads, water supply systems, and transportation networks. The establishment of such infrastructure drives demand for proppants and other materials and services related to oil and gas operations. As shale gas exploration advances in Saudi Arabia, the demand for proppants is expected to increase to support fracking operations in the forthcoming years.
Market Segmentation and Consumer Behavior:
By Type
- Ceramic- Market Size Forecast 2019-2030F, (Kilo Tons)
- Resin Coated- Market Size Forecast 2019-2030F, (Kilo Tons)
- Frac Sand- Market Size Forecast 2019-2030F, (Kilo Tons)
By Application
- Shale Gas- Market Size Forecast 2019-2030F, (Kilo Tons)
- Coal-bed Methane- Market Size Forecast 2019-2030F, (Kilo Tons)
- Tight Gas- Market Size Forecast 2019-2030F, (Kilo Tons)
- Others- Market Size Forecast 2019-2030F, (Kilo Tons)
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Saudi Arabia Proppants Market Geographical Analysis:
By Region
- North
- East
- West
- South
- Central
Key Players and Competitive Strategies in the Saudi Arabia Proppants Market
Several prominent players dominate the Saudi Arabia Proppants Market, including:
- Badger Mining Corp.
- Baker Hughes Inc.
- Carbo Ceramics Inc.
- Hexion Inc.
- Saint-Gobain Proppants Inc.
- Sibelco Group
- Schlumberger Limited
- Halliburton Corporation
- Delmon Group
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Questions Addressed in this Study
1.What factors are driving the Saudi Arabia Proppants Market growth?
2.How is the Saudi Arabia Proppants Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Saudi Arabia Proppants Market?
4.What is the current size of the Saudi Arabia Proppants Market, and how is it projected to change in the future?
5.What is the future outlook for the Saudi Arabia Proppants Market in terms of technological advancements and market expansion?
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