October 2020
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global gcc specialty chemicals market bwc20183
GCC Specialty Chemicals
Market Size - Industry Trends & Outlook Report 2026
The growth in developing markets
globally, and the concurrent expansion of middle-class buying capability, is
motivating the demand for specialty chemicals. The increasing populace, along
with the growing rate of suburbanization, has determined the need for
automobiles. Besides, the expanding consumer base is expected to be interpreted
into higher demand for vehicles and automotive parts. Moreover, favorable tax
structure, excluding special consumption tax, luxury tax, and value-added tax,
joined with fuel obtainability at competitive prices, has resulted in a
relatively inexpensive and increased buying of cars. The fresh grant of women
motivating in Saudi Arabia is likely to add to the car fleet size on the road.
These factors are expected to project an optimistic situation for specialty chemicals
from polymers, catalysts, and CASE shortly.
GCC Specialty Chemicals
Market: Market Outlook and Trends
The chemical industry is one of
the ancient industries in the GCC, which donates meaningfully towards local
industrial and industrial growth. The science-based industry helps as a
building block for all downstream sectors and donates secondarily to almost
every segment in the economy. With sustained instability in oil, prices, and
the welfares from inexpensive feedstock’s declining, GCC chemical manufacturers
have had to discover new plans and changes. As a result, they are transitioning
towards advanced boundary value additional specialty chemicals. The middle
class in China lasts to expand, and GCC chemical companies are well placed geographically
to take benefit of the Asia Pacific markets. The development in developing
markets globally, and the simultaneous growth of middle-class buying power,
will also drive request for specialty chemicals.
GCC Specialty Chemicals
Market
Growth Drivers
Government support and coming
new projects
Government sustenance and new
projects coming up in the region have fascinated important players in the GCC
market to tap such development opportunities. International players are in
going into the market via procurement, association, or association with GCC
players, for example, the joint undertaking between The Dow Chemical Company
and Saudi Arabian Oil Co. for the creation of Sadara Chemical Company. This is
likely to enlarge the market in the region and effort intense struggle amongst
national as well as global players. Furthermore, government initiatives in line
with Vision 2030 focused on economic broadening and reducing their revenue
requirement on oil owing to the vulnerabilities of price fluctuations.
Declining demand in the oil & gas segment is likely to create requests for
products from other booming trades in the region.
Impact of COVID-19 in industry
While chemical manufacturing is
among sectors deemed severe about fighting the coronavirus's spread, markets
last to face severe challenges as an end-user’s step back and cancel or
postpone orders, unable to measure requests in the coming weeks and month’s
stay-at-home charges. The supply chains are drying up, so we could see an
impact in the coming months. A wide diversity of raw material is imported from
China, and it is not likely to quickly switch around for substitute sources.
Also, cost-wise, China used to be the most competitive. However, companies
involved in rubber chemicals, graphite electrodes, carbon black, dyes, and
colors may benefit from the present situation. They may see an uptick in
request because of a fall in imports from China.
GCC Specialty Chemicals
Market: Segmentation
Based on the type market, The
GCC specialty chemicals market is divided by types of specialty chemicals, such
as Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Food
Additives, Specialty Polymer, and Others. Construction chemicals like mortar,
foaming agent, surface treatment chemicals, coatings, etc. play a vital role in
the construction process. Hence, they occupy a significant share in the
specialty chemicals market. These chemicals help in improving the physical and
aesthetic properties of a building and extend their life. It also reduces the
need for maintenance and helps retain the strength of concrete structures.
Based on function, The GCC specialty chemicals market is segmented by functions, such as Antioxidants, Biocides, Surfactants, and Others.
Competitive Landscape
The leading players
in the GCC Specialty Chemicals Market include Henkel Ag & Co. KGAA , BASF SE AkzoNobel N.V. Evonik Industries AG and
Clariant AG, Huntsman International LLC, The Dow Chemical
Company, Albemarle Corporation, and Ashland Inc., among
others.
Recent Developments
·
September
2020, Clariant advances its strategic growth in china
announcing new R&D partnership with top ranked Tianjin University.
·
September
2020, Albemarle
Corporation was selected by the U.S. Department of
Energy (DOE) as a critical partner for two #lithium research projects. They did
the partnership with Argonne and PNNLab to help address engineering challenges
for advanced battery materials and devices.
Scope of Report
·
By Type
ü Pesticides
ü Construction Chemicals
ü Specialty Oilfield Chemicals
ü Food Additives
ü Specialty Polymer
ü Others
·
By Function
ü Antioxidants
ü Biocides
ü Surfactants
ü Others
The objective of
the Study:
• To analyze and
forecast the GCC Specialty Chemicals Market size of the market in terms of
value.
• To examine the
careful market segmentation and forecast the market size, in terms of value,
based on the region by segmenting.
• The GCC Specialty Chemicals Market
into five regions, namely, North America, Europe, Asia Pacific,
Middle East, South America, and their leading countries.
• To outline,
categorized, and forecast the GCC Specialty Chemicals Market based on the By
Type, By Function,.
• To examine
competitive developments, like By Type, By Function, Within the GCC
Specialty Chemicals Market.
• To highlight
the impact analysis of the factors affecting the market dynamics such as growth
drivers.
• To
strategically profile the key players and comprehensively analyze their market
shares along with detailing the competitive landscape for market leaders.
Business Questions Answer by the Report
•
How will the market drivers, restraints, and opportunities affect
the market dynamics?
•
What will be the market size in terms of value and volume and
market statistics with a detailed classification?
•
Which segment dominates the market or region, and one will be the
fastest - growing, and why?
•
A comprehensive survey of the competitive landscape and the market
participant players
•
Analysis of strategy adopted by the key player and their impact on
other players.
Customization Scope for the Client
Client
satisfaction is our first and last priority, and that is why BlueWeave
Consulting offers customization according to Company’s specific needs. The
following customization options are available for the report:
Additional Company Information
• With five additional company detail
analysis
• Additional country analysis
• Detailed segment analysis
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
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