Middle East Specialty Chemicals Market Research Report Forecast : (2022-2027)

Market Definition

Specialty chemicals, also known as performance chemicals, help enhance the manufacturing process. These chemicals have extensive applications across different industrial verticals like mining, water, wastewater treatment plants, construction, pharmaceuticals, food additives, & personal care, among others.

Countries across the Middle East rely heavily on oil & gas, i.e., leading to rapidly expanding manufacturing plants, industrial units, etc., and playing a crucial role in propelling the demand for Specialty Chemicals in the region. Benefits of specialty chemicals, such as enhanced product performance & improved operational efficiency in industries, shall further stimulate their adoption in the coming years.

Market Insights

The Middle East Specialty Chemicals Market is projected to grow at a CAGR of around 5% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the several ongoing & upcoming large-scale construction activities across different countries in the region, in line with their aim to bring economic diversification, i.e., soaring the demand for specialty chemicals. 

In addition, the extensive oil & gas production facilities entwined with the mounting focus on boosting agricultural, construction, pharmaceutical, food processing, coatings & paper trading, & transportation, among others, are also playing a crucial role in stimulating the demand for specialty chemicals and thereby driving the market through 2027. 

Moreover, massive investments in infrastructure developments across countries like Saudi Arabia, UAE, & Qatar, among others, are also projecting growth opportunities for the leading players to increase their production, enhance product portfolio, and widen their scalability across the region.

Impact of Covid-19 on the Middle East Specialty Chemicals Market

The advent of Covid-19 in 2020 had a decelerating impact on the Middle East Specialty Chemicals Market. Hindrance in cross-border trade resulted in the unavailability of raw materials, lack of labor, increased demand & supply gaps, and shutdown of production units, which caused massive financial losses for the leading market players. The severely hampered transportation & logistics led to delays in deliveries of pre-produced chemicals.

However, with the gradual improvement in the pandemic situation, governments of different countries in the region uplifted the restrictions. It, in turn, encouraged the leading players to introduce new products and increase their production capacities to meet the burgeoning demand for specialty chemicals, expand the visibility in the region, and offer an extensive range of chemicals for customers.

Market Segmentation

Based on the Type:

• Pharmaceutical
• Mining
• Water & Waste Water Treatment
• Construction Chemicals
• Oilfield chemicals
• Personal Care
• Food Additives

Here, construction chemicals acquired the largest share in the Middle East Specialty Chemicals Market in recent years, and the same trend is likely during the forecast period. It attributes principally to the increasing need to remove large air inclusions at the concrete’s surface across the building & construction sector.

Besides, the growing number of construction projects, coupled with surging foreign direct investments in the construction sector owing to the mounting establishment of multi-national companies & prominent brands and expanding tourism, are anticipated to positively influence the demand for construction chemicals & drive the market through 2027.

Country Landscape

Geographically, the Middle East Specialty Chemicals Market expand across:

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Oman

Of them all, the UAE is anticipated to remain a prevalent market for Specialty Chemicals during the forecast period. It attributes primarily to rapidly growing developments across industries like oil & gas, construction, mining, and water & wastewater treatment sectors, among others, i.e., propelling the demand for specialty chemicals & boosting the market.

Besides, the rapidly increasing greenfield investments are projecting a mounting number of establishments of new structures. It, in turn, is augmenting the need for construction chemicals like demulsifiers, corrosion inhibitors, etc., & positively impacting the market growth. Moreover, the increasing influx of migrants, tourism, and events like World Expo 2021 are other crucial aspects projected to stimulate the market growth across the UAE over the coming years.

Market Dynamics:

Key Driver: Increasing Investments & Initiatives by Governments of Different Countries toward Infrastructural Developments

Under the plan of economic diversification by several countries in the Middle East, governments of these countries are actively participating in the infrastructural developments & investing substantially in sectors like construction, tourism, pharmaceutical, mining, etc. It, in turn, is displaying a growing demand for specialty chemicals in different applications of end-user industries and would generate growth opportunities for the leading players in the Middle East Specialty Chemicals Market through 2027.

Key Questions Answered in the Market Research Report:

1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Middle East Specialty Chemicals Market?
2. What are the country-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Middle East Specialty Chemicals Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Middle East Specialty Chemicals Market based on the competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the Middle East Specialty Chemicals Market study?