Middle East & Africa Oleochemicals Market Size & Outlook
Middle East & Africa oleochemicals market, 2018-2030 (US$M)
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MEA oleochemicals market highlights
- The MEA oleochemicals market generated a revenue of USD 913.1 million in 2023.
- The market is expected to grow at a CAGR of 3% from 2024 to 2030.
- In terms of segment, glycerol esters was the largest revenue generating product in 2023.
- Fatty Acid Methyl Ester is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 913.1 million |
| Market revenue in 2030 | USD 1,124.6 million |
| Growth rate | 3% (CAGR from 2023 to 2030) |
| Largest segment | Glycerol esters |
| Fastest growing segment | Fatty Acid Methyl Ester |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines, Other Products |
| Key market players worldwide | Evonik Industries AG, Wilmar International Ltd, Kao Corp, Corbion NV, Cargill, Godrej, IOI Corp Bhd, Vantage Specialty Chemicals, Emery Oleochemicals, Oleon, Evyap, Sakamoto Yakuhin Kogyo, The Stephan Co |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.7% of the global oleochemicals market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,478.4 million by 2030.
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Oleochemicals Market Scope
Oleochemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa oleochemicals market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to oleochemicals market will help companies and investors design strategic landscapes.
Glycerol esters was the largest segment with a revenue share of 34.52% in 2023. Horizon Databook has segmented the Middle East & Africa oleochemicals market based on specialty esters, fatty acid methyl ester, glycerol esters, alkoxylates, fatty amines, other products covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East and Africa is highly dependent on oil sector. The surging lubricant demand in Singapore, Turkey, Belgium, China, and India is expected to drive the growth of petrochemical industry in the region. Owing to the geographical advantage, the region acts as a major trade hub for Europe and Asia Pacific.
In addition, growing demand for lubricants and grease is expected to augment the growth of Oleochemicals market over the forecast period. Factors such as increasing geriatric population along with prevalence of lifestyle diseases & other health conditions have fostered the development of Oleochemicals such as medium chain triglycerides in dietary and pharmaceutical applications.
In addition, various factors including positive demographics, favorable macroeconomics, and rising tourism activities are expected to promote food & beverage and pharmaceutical sectors, thereby, promoting the growth of the Oleochemicals market over the forecast period. Growing industrialization, mainly in Saudi Arabia (the Middle East) and South Africa (Africa), has been driving the demand for Oleochemicals in the region.
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Our clientele includes a mix of oleochemicals market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa oleochemicals market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa oleochemicals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA oleochemicals market size, by country, 2018-2030 (US$M)
Middle East & Africa Oleochemicals Market Outlook Share, 2023 & 2030 (US$M)
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