2023: Sadara Chemical Company announced to begin supplies to PlasChem Park. It is a joint venture by Saudi Aramco and Dow Chemical Co. This joint venture has announced the full operation of its ethylene oxide and propylene oxide pipeline transportation system.
According to MarkNtel Advisors study, 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.
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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Key Findings in Middle East Specialty Chemicals Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 25 hours of the payment being successfully received, the report will be sent to your email address. |
Middle East Specialty Chemicals Market Key Players:
Saudi Basic Industry Corporation(SABIC), 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., and others
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Market Segmentation Overview:
By Type
-Pharmaceuticals
–Active Pharmaceutical Ingredients (APIs)
–Solvents
–Reagents
–Others
In recent years, the biggest share of the Middle East Specialty Chemicals Market was taken up by the construction chemicals segment, and it is estimated that this trend will go on during the forecast period as well. This is mainly due to the increasing demand to eliminate significant air inclusions on the surface of concrete within the building and construction industry.
Further, the increasing number of building initiatives, along with the increasing influx of foreign direct investments in the construction industry due to the rising presence of international corporations and well-known brands, as well as the growing tourism, are expected to have a favorable impact on the need for construction chemicals and propel the market growth in the coming years.
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
By Region
- Saudi Arabia
- The UAE
- Qatar
- Kuwait
- Oman
- Others
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The Middle East Specialty Chemicals Industry Recent Development:
2024: Evonik Industries AG signed an MoU at QEF to explore investment opportunities in Qatar. Their common aim is to explore particular investment opportunities focused on balanced solutions for energy transition.
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