Presence of the World’s Leading Oil Manufacturing companies in the Region Supporting the Middle East Speciality Chemicals Market
The Middle East and Africa Specialty Chemicals
market is expected to witness the lucrative growth in the upcoming years, on account
of the fast pace construction activities in the region, presence of a
significant volume of oil production facilities etc.,
According to MarkNtel Advisors’ marketresearch report “MiddleEast Speciality Chemicals Market Analysis, 2020”, the market size for Middle East Speciality Chemicals Markets across the globe is set to surge at a CAGR of around 5% during 2020-25. The agriculture and the oiling sector comprises of the two major industries in the region. The development in the agricultural facilities and the technological upgradations in the chemical industry have been proliferating the adoption of advanced chemicals such as bio-herbicides, pesticides, and other agrochemicals.
Furthermore, countries such as Saudi Arabia, UAE, Qatar, Kuwait, and Iran are among the world’s largest oil producers and distributors of crude oil across the globe. The rising offshore exploration activities in these countries due to the diminishing oil shore levels are expected to propagate the Middle East Speciality Chemicals market in the upcoming years.
For instance, a US-based company, Halliburton, the world’s largest providers of products and services to the energy industry, has set up its first oilfield specialty chemical manufacturing facility in Saudi Arabia. The production at the plant is expected to begin by 2020.
According to MarkNtel Advisors’ marketresearch report “MiddleEast Speciality Chemicals Market Analysis, 2020”, the market size for Middle East Speciality Chemicals Markets across the globe is set to surge at a CAGR of around 5% during 2020-25. The agriculture and the oiling sector comprises of the two major industries in the region. The development in the agricultural facilities and the technological upgradations in the chemical industry have been proliferating the adoption of advanced chemicals such as bio-herbicides, pesticides, and other agrochemicals.
Furthermore, countries such as Saudi Arabia, UAE, Qatar, Kuwait, and Iran are among the world’s largest oil producers and distributors of crude oil across the globe. The rising offshore exploration activities in these countries due to the diminishing oil shore levels are expected to propagate the Middle East Speciality Chemicals market in the upcoming years.
Lubricant and Oil Field Segment Anticipated to
Lead the Middle East Speciality Chemicals Market
The market segmentation of the Middle East
Speciality Chemicals market based on the chemical type has been led by the
Lubricant and oil field segment, with the majority of the market share in 2019.
The dominance by the segment is expected to prolong in the future, attributing
to the increasing exporting demand in the region. According to the Organization
of the Petroleum Exporting Countries, 79.4% of the world’s proven oil reserves
are located in the OPEC member countries with majority reserve, estimated to
64.5% with the Middle-East region.
According to MarkNtel Advisors,
the leading market players in the Middle East Speciality Chemicals market are
Saudi Basic Industry Corporation, Sadara Chemical Company, Saudi Speciality
Chemical Industries Co Ltd., Thebe Unico, AECI Ltd., Clariant AG, Akzo Nobel
N.V., Evonik Industries AG, BASF SE, DowDuPont Inc., and others.
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The competition in the Middle East Speciality
Chemical market has been further intensifying, as the company’s across the
world the investing in the facility establishment for the production of
specialty chemicals in the Middle East region.
For instance, a US-based company, Halliburton, the world’s largest providers of products and services to the energy industry, has set up its first oilfield specialty chemical manufacturing facility in Saudi Arabia. The production at the plant is expected to begin by 2020.
“Middle East Speciality Chemicals Market
Analysis, 2020” provides comprehensive qualitative and
quantitative insights on the industry potential, key factors impacting sales
and purchase decisions, hotspots, and opportunities available for specialty
chemical providers across the region. Moreover, the report also encompasses the
key strategic imperatives for success for competitors along with strategic
factorial indexing measuring competitor's capabilities on 16 parameters. This
will help companies in the formulation of Go to Market Strategies and
identifying the blue ocean for its offerings.
Market Segmentation:
- By Type (Pharmaceuticals
Chemicals, Mining Chemicals, Water & Waste Water Treatment Chemicals,
Oil Field Chemical, Personal Care, Food Additive, Construction Chemicals,
Others)
- By Country (Saudi Arabia, UAE,
Qatar, Kuwait, Oman, rest of Middle East)
- By Company (Saudi basic Industry
Corporation, Sadara Chemical Company, Saudi Speciality Chemical Industries
Co Ltd., Thebe Unico, AECI Ltd., Clariant AG, Akzo Nobel N.V., Evonik
Industries AG, BASF SE, DowDuPont Inc., and others)
Key questions answered in the study
- What are the current and future market trends of the
Middle East Speciality Chemicals Markets industry?
- How the industry has been evolving in terms of end-user
demand and application areas?
- How the competition has been shaping across the
countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the
Middle East Speciality Chemicals Markets industry?
- What are the customer orientation, purchase behavior, and expectations from the specialty chemical suppliers across various countries in the ME region?
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