The Saudi Arabia Proppants market is expected to grow at a high rate in the forecast period on account of growth in industrialization, surging need for energy, and rising investment toward the development of proppant plants in the country. Under Saudi Vision 2030, the government plans to set up proppant plants with a capacity of 250K tons with 2 modules with a capacity of 125K tons each. Moreover, the launch of shale gas development plant in order to boost domestic gas supply will result in increasing levels of hydraulic fracturing in the country. Thus, this is projected to fuel the demand for proppants in Saudi Arabia in the forthcoming years.
According to MarkNtel Advisors’ research report titled “Saudi Arabia Proppants Market Analysis, 2020”, the Saudi Arabia Proppants market is anticipated to grow at a CAGR of 6% during 2020-25. The growth of the proppant market is attributed to surging improvement in fracturing technology, burgeoning demand for proppants from oil and gas industries, and advanced growth in shale industry. Besides these, rising inclination toward the use of ceramic and resin-coated proppants in oil wells to enhance the overall productivity along with considerable need for frac sand for the removal of petroleum fluids, and bolstering demand for energy are some of the factors accelerating the growth of the market in the coming years.
“Saudi Arabia Proppants Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Proppant providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Shale Gas Acquired the Significant Market Share
Based on Application, Shale Gas acquired the significant market share in the Saudi Arabia Proppants market in 2019. This is due to shale gas development in the country in order to reduce the burning of crude and fuel at the power generation plants to curb carbon emission and to increase domestic gas supply. Hence, this is leading to a significant impact on the growth of proppants in the coming period as stated in MarkNtel Advisors’ research report “Saudi Arabia Proppants Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Saudi Arabia Proppants market include Badger Mining Corp., Baker Hughes Inc., Carbo Ceramics Inc., Hexion Inc., Saint-Gobain Proppants Inc., Sibelco Group, Schlumberger Limited, Halliburton Corporation etc.
Key questions answered in the study: