Press Release Description

Saudi Arabia Proppants Market to Surge at a CAGR of Around 6.12% During 2024-30

The Saudi Arabia Proppants Market is anticipated to grow at a CAGR of about 6.12% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The abundance of substantial oil and gas reserves in the nation, coupled with the discovery of new oil and gas wells, is expected to drive the demand for proppants in the foreseeable future. In addition, due to increased government investment in establishing proppants and shale gas plants, coupled with the rising demand for proppants in the oil and gas sector, the market is expected to witness significant growth in the coming years.

Saudi Arabia Proppants Market

Moreover, heightened investments in the country's oil and gas pipeline infrastructure by key companies such as Saudi Aramco, SIPCHEM, and Total Energies are anticipated to drive the demand for proppants in newly constructed infrastructure, ensuring substantial returns and further enhancing market growth & expansion. Furthermore, the uptick in hydraulic fracturing activities and growing interest in producing domestic gas for electricity generation are expected to bolster the demand for proppants in the forecast period.

However, during periods of low oil prices or global economic downturns, oil and gas companies in Saudi Arabia encounter budget limitations, ultimately hampering the market size. Ceramic proppants, renowned for their superior strength and conductivity, typically come at a higher cost compared to traditional sand proppants. In light of this, in a market environment driven by cost considerations, operators lean towards more affordable alternatives to mitigate drilling and completion expenses. This cost-conscious approach restricts the demand for ceramic proppants, thereby impeding their market expansion in Saudi Arabia, further states the research report, “Saudi Arabia Proppants Market Analysis, 2024.”

Segmentation Analysis

Frac Sand Segment Holds a Major Market Share

Based on type, the market is further bifurcated into Ceramic, Resin Coated, and Frac Sand. Among them, Frac Sand segment leads the market and is anticipated to hold a significant share of the market in the forthcoming period. The market growth is attributed to the rising domestic production of frac sand for shale gas production. Also, Saudi Arabia's abundant deposits of silica sand, primarily found in the Rub' al Khali desert (Empty Quarter), offer a cost advantage for frac sand production compared to alternative proppants like ceramics or resin-coated sands, which often require costly imports. Frac sand is known for its cost-effectiveness, making it a preferred choice for hydraulic fracturing operations, particularly in scenarios necessitating large volumes of proppants.

Hence, its affordability aids in lowering overall drilling and completion expenses, a crucial aspect in cost-sensitive environments or during periods of subdued oil prices, which is expected to enhance market growth during 2024-2030.

Shale Gas to Account for a Prominent Share of the Market

Shale gas would hold a major share of the market in the forecast period. This growth is attributed to the increasing exploration and development of shale gas resources, which presents new opportunities for the Saudi Arabia Proppants Market. Shale gas extraction relies heavily on hydraulic fracturing, a process where proppants play a crucial role in keeping fractures open and enhancing gas recovery.

Moreover, the cost-effectiveness of shale gas production is a key driver influencing the demand for proppants in Saudi Arabia. Despite the abundance of shale gas reserves, the economics of extraction are influenced by factors such as drilling costs, well productivity, and market prices. Consequently, proppants constitute a significant portion of the total cost of hydraulic fracturing operations. Therefore, finding cost-effective solutions is imperative for the success of shale gas projects in the Kingdom, driving the anticipated increase for this specific segment in the forthcoming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including 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 are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the country?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across the country?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-2030?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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