Middle East & Africa Silicone Elastomer Market Size & Outlook
Middle East & Africa silicone elastomer market, 2019-2030 (US$M)
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MEA silicone elastomer market highlights
- The MEA silicone elastomer market generated a revenue of USD 159.3 million in 2022.
- The market is expected to grow at a CAGR of 8.4% from 2023 to 2030.
- In terms of segment, lsr was the largest revenue generating product in 2022.
- RTV is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 159.3 million |
| Market revenue in 2030 | USD 303.8 million |
| Growth rate | 8.4% (CAGR from 2022 to 2030) |
| Largest segment | Lsr |
| Fastest growing segment | RTV |
| Historical data covered | 2019 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HTV, RTV, LSR |
| Key market players worldwide | China National Bluestar Group, Dow Inc, MicroAlgo Inc, Momentive, Shin-Etsu Chemical Co Ltd, Wacker Chemie AG |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.8% of the global silicone elastomer market in 2022.
- 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 6,577.7 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Silicone Elastomer Market Scope
Silicone Elastomer Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa silicone elastomer 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 silicone elastomer market will help companies and investors design strategic landscapes.
Lsr was the largest segment with a revenue share of 61.46% in 2022. Horizon Databook has segmented the Middle East & Africa silicone elastomer market based on htv, rtv, lsr covering the revenue growth of each sub-segment from 2019 to 2030.
The Middle East & Africa silicone elastomers market is driven by the growth in construction and industrial processes. Oil & gas industry in the Middle East has been witnessing a major shift in recent years with the rising investments in a diverse range of projects, including technical offshore and LNG projects.
This trend is expected to continue in the coming years as major players in the market are expanding their presence in the region and are engaged in long-term projects such as Upper Zakum, a production capacity enhancement project in the UAE; Zubair Oil Field, Rehabilitation Phase, and Enhanced Re-Development Phase in Iraq; and Yanbu, a crude oil-to-chemicals complex project in Saudi Arabia.
Furthermore, the expanding construction sector, mainly in Qatar and the UAE owing to their economic recovery, advanced real-estate regulatory frameworks, and increasing number of infrastructure projects, is expected to drive the demand for silicone over the forecast period.
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Our clientele includes a mix of silicone elastomer 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 silicone elastomer market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa silicone elastomer market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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MEA silicone elastomer market size, by country, 2019-2030 (US$M)
Middle East & Africa Silicone Elastomer Market Outlook Share, 2022 & 2030 (US$M)
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