According to the latest report by GMI Research, Saudi Arabia Well Stimulation Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2027. The Saudi Arabia Well Stimulation Materials Market analyses the impact of the COVID-19 pandemic and represents that the market will significantly grow at a higher rate in 2021 over 2020. Well stimulation refers to the method used to improve the hydrocarbon flow in the bore well, thereby accelerating the overall productivity of the well. The general method associated with the well stimulation includes Hydraulic Fracturing and Acidization. Hydraulic fracturing is used for rocks with lower permeability, including shale, sandstone, and coalbeds. The acidization includes the pumping of the acid gases (CO2 and H2S) so that the minerals and composites are dissolved. This procedure is carried out in an extremely controlled environment to eliminate the chances of leakage and other related issues.
Competitive Landscape: The Saudi Arabia Well Stimulation Materials Market report also scans the competitive landscape and profiles the major players operating in the market, including Linde Group, Chevron Phillips Chemical Company, Saudi Arabian Oil Co, B.V NAMA Chemicals, Innospec, National Energy Services Reunited Corp, and TAQA KSA.
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The major factors boosting the growth of Saudi Arabia Well Stimulation Material Market include the strong demand for oil and gas in Saudi Arabia, which is leading to an increase in the requirement for oil production. Additionally, the increasing crude oil requirement across Saudi Arabia, driven by the emerging need to increase power generation, is further energizing the growth of Saudi Arabia Well Stimulation Material Market.
The Saudi Arabia Well Stimulation Materials market size is projected to expand, in terms of revenue, due to the easy availability of the raw materials in the region (hydrochloric acid, formic acid, acetic acid, and aluminium). On the basis of well stimulation technology, Hydraulic fracturing is anticipated to lead the Saudi Arabia Well Stimulation Materials Market over the forecast period. This is attributed to its remarkable advantages, including lowers the overall production cost. The Hydraulic fracturing technology reduces the product cost and eventually lowers the carbon emission.
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Breakup by Well Stimulation Technology:
- · Hydraulic fracturing
- · Acidization
- Multistage fracturing
- Hydrochloric acid wash
- Matrix acid stimulation
- Acid fracturing
Breakup by Stimulation Material Type:
- · Proppants
- · Base fluid materials
- · Fracturing fluid additives segment
- Ceramic proppants
- Coated sand
- Raw sand
Base fluid materials
- Polymer gelling agents
- Friction reducers
- Crosslinking agents
- Gel breakers
- Hydrochloric Acid
- Hydro Fluoric Acid
- Natural Acids
Fracturing fluid additives segment
- Corrosion inhibitors
- Scale inhibitors
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