GCC Specialty Chemicals Market Size, Type (Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Food Additives, Specialty Polymer, and Others), By Function (Antioxidants, Biocides, Surfactants, and Others), Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: October 2020
- Report ID: bwc20183
- Available Format: PDF
- Page: 182
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
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.
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.
· 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 Construction Chemicals
ü Specialty Oilfield Chemicals
ü Food Additives
ü Specialty Polymer
· By Function
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
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