Saudi Arabia Calcium Bromide Market size is projected to grow at a CAGR of 4.2% during 2024-2030

On the basis of types, Anhydrous segment accomplished the highest revenue share in the Saudi Arabia Calcium Bromide Market – 6Wresearch

Anhydrous calcium bromide acquired maximum revenue share in the market owing to its higher concentration of the active ingredient, lighter weight, and lower hygroscopicity, making it more cost-effective, easier to transport, and preferred for specific applications, such as in the oil and gas industry.

According to 6Wresearch, The Saudi Arabia Calcium Bromide Market size is projected to grow at a CAGR of 4.2% during 2024-2030.Saudi Arabia calcium bromide market would grow on account of various oil and gas projects such as Marjan Oil Field Development with a total budget of $21 billion, aiming to expand the field and increase its crude production capacity by 3,00,000 b/d as well as produce 3,60,000 b/d of ethane and natural gas liquids (NGL), an additional 2.5 billion standard cubic feet per day (Bscfd) of gas. Moreover, 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 contribute to the growth of calcium bromide market as oil and gas sector growth would lead to increased demand for oilfield services and calcium bromide would be required to formulate effective drilling fluids in the coming years.

According to Swati, Senior Research Analyst, 6Wresearch, clear brine fluids dominate the Saudi Arabia calcium bromide market, due to their extensive utilization in the oil & gas sector for their clarity, and stability, role in diverse applications, including well drilling, completion, and other. Moreover, with increasing local production of clear brine calcium bromide in Saudi Arabia, thereby fuelling substantial market growth.

The Saudi Arabia Calcium Bromide Market (2024-2030) report provides an in-depth analysis with 15 figures and 6 tables, covering 61 pages. The report comprehensively covers the market by types, end use and applications. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.