As per current published report by Markntel Advisors the Saudi Arabia Proppants Market is estimated to grow at a CAGR of around 6.12% during the forecast period, i.e., 2024-30. A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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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.
The Saudi Arabia Proppants Market has segmented the market into the following categories:
By Type
(Ceramic, Resin Coated, Frac Sand),
By Application
(Shale Gas, Coal-bed Methane, Tight Gas, Others)
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By Region
- North
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East
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West
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South
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Central
Competitive Environment Featuring Key Players:
Badger Mining Corp., Baker Hughes Inc., Carbo Ceramics Inc., Hexion Inc., Saint-Gobain Proppants Inc., Sibelco Group, Schlumberger Limited, Halliburton Corporation, Delmon Group and others
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