MarkNtel Advisors – Leading Market Research Company found Saudi Arabia Proppants Market is expected to reach 6.12% CAGR Growth By 2030.
This report provides a comprehensive analysis of the Saudi Arabia Proppants Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the Saudi Arabia Proppants Market
Base Year: 2023
Forecast Years: 2024-2030
Historical Years: 2019-2022
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Scope of the Saudi Arabia Proppants Market Report:
The Saudi Arabia Proppants Market size is estimated to grow at a CAGR of around 6.12% during the forecast period, i.e., 2024-30. The presence of huge oil & gas reserves in the country, along with the discovery of new oil & gas wells, would push the requirement for proppants during the forecast period. According to the Organization of Petroleum Exporting Countries (OPEC), in 2022, Saudi Arabia consisted of around 17% of the world’s proven petroleum reserves, including 267,192 million barrels of crude oil reserves. Hence, the demand for proppants is estimated to rise considerably in Saudi Arabia with the development of the oil & gas industry during 2024-2030.
Which prominent factor is expected to drive the Saudi Arabia Proppants Market during 2024-30?
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.
What are the different Segment Available in the Saudi Arabia Proppants Market?
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)
By Region
- North
- East
- West
- South
- Central.
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Leading Saudi Arabia Proppants companies operating in the Market
- Badger Mining Corp.
- Baker Hughes Inc.
- Carbo Ceramics Inc.
- Hexion Inc.
- Saint-Gobain Proppants Inc.
- Sibelco Group
- Schlumberger Limited
- Halliburton Corporation
- Delmon Group
- Others.
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