The Middle East Specialty Chemicals Market is expecting around 5% CAGR during 2022-27, states MarkNtel Advisors in their recent research report. The rapidly growing construction sector, escalating demand for personal care products, and massive investments by the government in the development of industries like mining, electronics, pharmaceuticals, agriculture, chemical, water & wastewater, etc., are the prime aspects driving the market.
Besides, the growing need for specialty chemicals across the oil & gas industry to enhance the overall efficiency & simplify the extraction process in an environment-friendly manner is another aspect projected to fuel the demand for specialty chemicals across the region, further states the research report, “Middle East Specialty Chemicals Market Analysis, 2022.”
Increasing Infrastructural Developments across the Middle East to Boost the Demand for Construction Chemicals
Construction Chemicals dominated the Middle East Specialty Chemical Market with the largest share in recent years, and the same trend is expected during the forecast period. It owes principally to the swiftly increasing number of construction projects across different countries in the region on account of the growing government focus on economic diversification & infrastructural developments. Besides, expanding population, tourism, & influx of migrants in the Middle East are instigating the construction of residential complexes, hotels, etc., which, in turn, is soaring the demand for construction chemicals and fueling the overall market growth.
Swift Expansion of Different Industrial Sectors in the UAE to Drive the Market through 2027
Of all countries in the Middle East, the UAE is anticipated to dominate the Specialty Chemicals Market with the largest share during the forecast period. It owes principally to the increasing infrastructural developments & mounting focus on economic diversification away from oil, i.e., displaying massive investments in oil & gas, construction, mining, and water & wastewater treatment sectors.
It is stimulating the demand for specialty chemicals to enhance operational efficiency and, in turn, augmenting the market growth across the UAE, reveals MarkNtel Advisors in their research report, "Middle East Specialty Chemicals Market Analysis, 2022."
According to MarkNtel Advisors, the leading players in the Middle East Specialty Chemicals Market are 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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