The market growth is mainly driven by the growing oil production, increasing usage of agrochemicals, and rising construction activities in the region.
Specialty chemicals are also known as performance chemicals. They are used as ingredients in the manufacturing processes of consumer and industrial goods. These are low volume chemical products, which add significant value to different products. These chemicals can be used for producing a variety of products, including detergents, paints, electronics, and petroleum products.
Insights into market segments
On the basis of type, the lubricant and oil field chemicals category has been holding the largest share in the MEA specialty chemicals market, because of its extensive use in the production of crude oil. The revival in the prices of crude oil and its growing demand from major oil importing countries is attributing to the largest share of the category in the MEA specialty chemicals market.
MEA has some of the largest oil producing countries in the world, namely, Saudi Arabia, Nigeria, and Algeria. These countries are also among the largest exporters of crude oil in the world and would continue to invest in the exploration and development of new oil fields. Owing to this, the demand for specialty chemicals used in oil fields is expected to rise in the region. Also, rising demand for specialty chemicals in the production of automotive lubricants is also expected to boost the MEA specialty chemicals market during the coming years.
Saudi Arabia seizes the leading position
Saudi Arabia has been leading the MEA specialty chemicals market, with a contribution of more than 60.0% revenue in 2017. The country is one of the largest producers of crude oil and is home to fast growing automotive and construction industries, both of which are major end users of specialty chemicals. The expansion of end user industries is expected to further boost the specialty chemicals market in the country, in the coming years.
Advancement in agricultural practices are expected to drive the market growth
Agriculture is the dominant sector across majority of African nations. With advancement in agricultural practices, farmers in different African nations are shifting to modern agricultural practices, such as the use of fertilizers, insecticides, pesticides, fungicides, and other agrochemicals. These agrochemicals are used during the different stages of farming in order to improve soil fertility, and prevent crop damage due to environmental factors, weed growth, and pests. The growth in the consumption of different types of agrochemicals would further boost the growth of the MEA specialty chemicals market.
Rapid economic growth in developing countries is laying opportunities for the market players
The demand for the product in the developed countries of the region has reached the maturity stage, owing to the saturate demand from end user industries. However, the demand of specialty chemicals in developing countries, particularly in African nations, has witnessed a rapid rise in recent years, mainly from the agriculture, electronics, and construction sectors. This allows the manufacturers to tap the potential in these developing countries and offers high growth opportunities for the MEA specialty chemicals market.
Some of the major players operating in the MEA specialty chemicals market are Saudi Basic Industries Corporation (SABIC), Sadara Chemical Company, Saudi Speciality Chemical Industries Co Ltd., Thebe Unico, AECI Ltd, Clariant AG, Akzo Nobel N.V., Evonik Industries AG, BASF SE, and DowDuPont Inc.
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Type
1.3.2 Market Segmentation By Country
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
220.127.116.11 By Country
18.104.22.168 By Industry Participant
22.214.171.124 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Type
126.96.36.199 Construction Chemicals
188.8.131.52 Specialty Coatings
184.108.40.206 Food Additives
220.127.116.11 Polymer Additives
18.104.22.168 Electronic Chemicals
22.214.171.124 Cleaning Chemicals
126.96.36.199 Plastic Additives
188.8.131.52 Paper And Textile Chemicals
184.108.40.206 Adhesives And Sealants
220.127.116.11 Lubricant And Oilfield Chemicals
4.2 Value Chain Analysis
4.3 Market Dynamics
18.104.22.168 Growing Merger And Acquisition Activities
22.214.171.124 Rising Consumption Of Specialty Chemicals In Oilfields
126.96.36.199 Advancement In Agricultural Practices In Africa
188.8.131.52 Impact Analysis Of Drivers On Market Forecast
184.108.40.206 Fluctuating Raw Material Prices
220.127.116.11 Impact Analysis Of Restraints On Market Forecast
18.104.22.168 Rising Demand From Developing Countries Of The Region
Chapter 5. MEA Market Size And Forecast
5.1 By Type
5.2 By Country
5.2.1 Saudi Arabia
22.214.171.124 By Type
5.2.2 South Africa
126.96.36.199 By Type
5.2.3 Rest Of MEA
188.8.131.52 By Type
Chapter 6. Competitive Landscape
6.1 Competitive Benchmarking Of Key Players
6.2 Strategic Developments Of Key Player
Chapter 7. Company Profiles
7.1 Saudi Basic Industries Corporation
7.1.1 Business Overview
7.1.2 Product And Service Offerings
7.1.3 Key Financial Summary
7.2 Sadara Chemical Company
7.2.1 Business Overview
7.2.2 Product And Service Offerings
7.3 Saudi Speciality Chemical Industries Co Ltd.
7.3.1 Business Overview
7.3.2 Product And Service Offerings
7.4 Thebe Unico
7.4.1 Business Overview
7.4.2 Product And Service Offerings
7.5 Aeci Ltd
7.5.1 Business Overview
7.5.2 Product And Service Offerings
7.5.3 Key Financial Summary
7.6 Clariant Ag
7.6.1 Business Overview
7.6.2 Product And Service Offerings
7.6.3 Key Financial Summary
7.7 Akzo Nobel N. V.
7.7.1 Business Overview
7.7.2 Product And Service Offerings
7.7.3 Key Financial Summary
7.8 Evonik Industries Ag
7.8.1 Business Overview
7.8.2 Product And Service Offerings
7.8.3 Key Financial Summary
7.9 Basf Se
7.9.1 Business Overview
7.9.2 Product And Service Offerings
7.9.3 Key Financial Summary
7.10 Dowdupont Inc.
7.10.1 Business Overview
7.10.2 Product And Service Offerings
7.10.3 Key Financial Summary
Chapter 8. Appendix
8.2 Sources And References
- Saudi Basic Industries Corporation (SABIC)
- 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.