Saudi Arabia Calcium Bromide Market 2024-2030 COVID-19 Impact, Companies, Trends, Revenue, Industry, Forecast, Analysis, Size, Value, Share & Growth: Market Forecast By Type, By Products, By End Use, By Application And Competitive Landscape

Saudi Arabia Calcium Bromide Market Synopsis

Saudi Arabia calcium bromide market has experienced growth over the period 2020-2023 fueled by a surge in oil and gas projects across the country along with substantial oil, gas and petrochemical reserves, for instance, the country ranks second in terms of proven oil reserves in the world. The expansion of the oil and gas industries, marked by an investment exceeding $200 billion in active projects, presents a lucrative opportunity for manufacturers specializing in calcium bromide chemicals. Significantly, more than a third of the chemical and petrochemical projects are already in the construction phase, indicating tangible progress, while the remaining two-thirds are in the planning stage, showcasing the ongoing and future potential for investment in this sector.

According to this research, The Saudi Arabia Calcium Bromide Market size is projected to grow at a CAGR of 4.2% during 2024-2030. The ongoing development of major oil fields in Saudi Arabia, including Safaniya, Zuluf, Marjan, and Berri, collectively boasting a total capacity of 4600 thousand barrels per day, is anticipated to be a pivotal driver for increased demand in exploration activities within new oilfields. This surge in exploration is expected to be a key factor contributing to the substantial growth of the calcium bromide market in the coming years. Further, the country has well performed chemical sector with annual capacity of approximately 118 million tonnes currently and plans to increase production of natural gas and petrochemicals under Saudi Vision 2030 as well as Saudi Aramco Saudi Arabia state owned oil company plans to raise its crude oil production to 13 million barrels a day by 2027 along with 50% increase in gas production by 2030 would drive further growth in the Saudi Arabia calcium bromide industry.

Market Segmentation by Types

Anhydrous calcium bromide type dominates the market as it is preferred more due to its stability at high temperatures and ability to control the density of drilling fluids effectively. Its adaptability to different stages of oil and gas extraction contributes to its dominance in the market.

Market Segmentation by End Use

Oil & gas segment leads Saudi Arabia calcium bromide market, with a strong presence and continuous expansion of the oil and gas sector with ongoing and planned projects, such as field developments and increased production targets set by entities like Saudi Aramco, driving the demand for calcium bromide.

Market Segmentation by Applications

In 2023, Clear brine fluids hold the highest share in Saudi Arabia Calcium Bromide market primarily as Saudi Arabia has a significant presence in the oil and gas sector, and the demand for clear brine fluids containing calcium bromide may be driven by the needs of this industry.

Key Attractiveness of the Report

• 11 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Saudi Arabia Calcium Bromide Market Overview
• Saudi Arabia Calcium Bromide Market Outlook
• Saudi Arabia Calcium Bromide Market Forecast
• Historical Data and Forecast of Saudi Arabia Calcium Bromide Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of Saudi Arabia Calcium Bromide Market Revenues, By Types, for the Period 2020-2030F
• Historical Data and Forecast of Saudi Arabia Calcium Bromide Market Revenues, By End Use, for the Period 2020-2030F
• Historical Data and Forecast of Saudi Arabia Calcium Bromide Market Revenues, By Applications, for the Period 2020-2030F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Trends
• Key Performance Indicators
• Saudi Arabia Calcium Bromide Market Revenue Share, By Companies, 2023
• Key Competitors Analysis
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• 7774-34-7 Hexahydrate
• 7789-41-5 Anhydrous
• 22208-73-7 Dihydrate

By End Use

• Oil & Gas
• Chemical
• Others (Pharmaceuticals, Energy, etc.)

By Applications

• Clear Brine Fluid
• Oxidizer