Drivers and Trends Benefits Middle East Specialty Chemicals Market to Grow at 4.8% CAGR, projected to Reach USD 78 billion in 2023

 

Market Insights

As per recent research by MarkNtel Advisors, The Middle East Specialty Chemicals Market size was valued at around USD 78 billion in 2023 and is estimated to grow at a CAGR of around 4.8% during the forecast period, i.e., 2024-30.

Middle East Specialty Chemicals Market Driver:

Growing Demand from End-Use Industries Driving Market Growth – The expansion of different end-use industries, which include construction, electronics, medical, automotive, and packaging is raising the demand for specialty chemicals. Almost every industrial sector consumes specialty chemicals. So, the demand for specialty chemicals is increasing and will increase in the future as well due to increasing consumer-driven industries. The automotive industry is one of the biggest consumers of specialty chemicals. A few automobile parts, including coatings, tires, and adhesives use specialty chemicals in their manufacturing to enhance their durability and performance.  As these sectors are continuously innovating and developing the demand for specialty chemicals will keep on increasing in the region.

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Market Segmentation and Consumer Behavior:

By Type

• Pharmaceuticals
  • Active Pharmaceutical Ingredients (APIs)
  • Solvents
  • Reagents
  • Others

By Mining

• Frothers
• Flocculants
• Collectors
• Grinding Aids
• Others

By Water & Waste Water Treatment

• Coagulants & Flocculant
• Biocide
• Corrosion Inhibitor
• Scale Inhibitor
• Others

By Construction Chemicals

• Concrete Admixtures
• Water Proofing
• Adhesive and Sealant
• Protective Coating

By Oil Field Chemicals

• Drilling Fluids
• Cementing Chemicals
• Acidizing Chemicals
• Fracturing Chemicals
• Oil Production Chemicals

By Personal Care

• Inactive Ingredients
• Active Ingredients

By Food Additives

• Acidulants
• Flavour Enhancers
• Hydrocolloids
• Preservatives
• Others

Others

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Middle East Specialty Chemicals Market Geographical Analysis:

By Country:

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Oman
• Others

Key Players and Competitive Strategies in the Middle East Specialty Chemicals Market

Several prominent players dominate the Middle East Specialty Chemicals Market, including:

• Saudi basic Industry Corporation
• Sadara Chemical Company
• Saudi Specialty Chemical Industries Co Ltd.
• Thebe Unico
• AECI Ltd.
• Clariant AG
• AkzoNobel N.V.
• Evonik Industries AG
• BASF SE
• DowDuPont Inc.

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Questions Addressed in this Study

1.What factors are driving the Middle East Specialty Chemicals Market growth?

2.How is the Middle East Specialty Chemicals Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Middle East Specialty Chemicals Market?

4.What is the current size of the Middle East Specialty Chemicals Market, and how is it projected to change in the future?

5.What is the future outlook for the Middle East Specialty Chemicals Market in terms of technological advancements and market expansion?

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