Middle East & Africa Specialty Chemicals Market Size & Outlook
Middle East & Africa specialty chemicals market, 2018-2030 (US$B)
Related Markets
MEA specialty chemicals market highlights
- The MEA specialty chemicals market generated a revenue of USD 22.4 billion in 2023.
- The market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 22.4 billion |
| Market revenue in 2030 | USD 30.8 billion |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | |
| Key market players worldwide | Solvay SA, Evonik Industries AG, Clariant AG, Akzo Nobel NV, DuPont de Nemours Inc, Kemira Oyj, Lanxess AG, Croda International PLC, Huntsman Corp, The Lubrizol Corp, Albemarle Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.5% of the global specialty chemicals 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 510.6 billion by 2030.
The high demand for cosmetic chemicals in the cosmetic industry in countries including the UAE, Kuwait, and Saudi Arabia is expected to stimulate market growth. A young and dynamic population along with high purchasing power is expected to contribute to the market growth over the forecast period. Food & beverage sector in the Middle East offers growth opportunities for international investors.
Reliance on food trade, international tastes, changing consumer preferences and lifestyles, strategic geographic position, and gulf food programs have substantially contributed to the development of the food & beverage industry in the region, which is further expected to trigger the demand for specialty chemicals over the forecast period.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA specialty chemicals market size, by country, 2018-2030 (US$B)
Middle East & Africa Specialty Chemicals Market Outlook Share, 2023 & 2030 (US$B)
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