Middle East Bio-chemicals Market to Reach 2,677.9 Kilo Tons by 2027 - Coherent Market Insights
SEATTLE, March 17, 2020 /PRNewswire/ -- Middle East bio-chemicals market was pegged at 1,689.9 kilo tons in 2018, and is expected to exhibit a CAGR of 5.3% over the forecast period (2019-2027), in terms of volume to reach 2,677.9 kilo tons by end of 2027.
Middle East Bio-chemicals Market Outlook:
Increasing environmental awareness and shifting preference of manufacturers from petroleum-based products to biofuels are expected to drive the market growth over the forecast period. Manufacturers in the chemical industry are focused on utilizing biofuels. Limited suppliers of non-renewable resources in the chemical industry is expected to drive demand for bio-based chemicals and polymers over the forecast period.
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Rising demand for bio-based chemicals from various end-use industries fuelled growth of the Middle East bio-based chemical market in 2018, and it is expected to exhibit positive growth over the forecast period. Bio-based chemicals have several application in end-use industries such as chemicals and fertilizers, food and beverages, pharmaceutical, paints and coating, automotive, packaging, personal care, and cosmetics.
Rising technological advancements related to biodegradable additives in the Middle East are expected to fuel the market growth. For instance, in 2018, Environmental Products Inc. (EPI), received approval for oxo-biodegradable additives technology to be used in Saudi Arabia. The approval was received from Saudi Arabia Standards Organization (SASO).
Substitutes of bio-chemicals such as conventional chemicals, which occupy a major market share in the Middle East chemicals market. Availability and dominance of substitutes such as PET, PE, and PVC among others are expected to hamper the Middle East bio-chemicals market.
Key Market Takeaways:
- Among product type, bio-plastic segment held largest volume share in the Middle East bio-chemicals market in 2018. Bio-plastics are produced using biomass sources such as vegetable fats & oils, woodchips, corn starch, and recycled food waste. In Middle East, researchers are focusing on production of bio-plastic using raw materials other than agricultural resources. For instance, in December 2018, researchers from Tel Aviv University (Israel) developed a new technology for producing bio-plastics using micro-organisms that feed on seaweed. According to them, this technology will help countries with shortage of water such as Israel to switch from petroleum-derived plastics to bio-degradable plastics.
- Among application, chemical & fertilizers segment accounted for largest volume share in the Middle East bio-chemicals market in 2018. Companies operating in the region are focusing on business expansion, in order to meet growing demand for bio-based chemicals from various end-use industries. For instance, in February 2018, Sebacic Oman announced to open a new bio-based nylon manufacturing plant in Duqm (Oman) free zone. The project is expected to be completed by 2022 and will have a production capacity of 10,000 tons per annum. The bio-based nylon will find application in engineering polymers.
- Prominent players operating in the Middle East bio-chemicals market are focused on adopting strategies such as production expansion to strengthen their position in the Middle East market. For instance, in July 2019, Neutral Fuels headquartered in UAE, announced plans to expand biodiesel business in Bahrain. Furthermore, the company plans to build two bio refineries, first one in Ras Al Khaimah and second one in UAE.
Key companies operating in the Middle East bio-chemicals market include—
BASF SE, Clariant A.G., Evonik Industries A.G., Total S.A., Cargill Inc., Biolive, Saudi Biodiesel, Saudi Bio-Acid Company, Sain Bag, and Neutral Fuels among others.
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Market Segmentations:
- Middle East Bio-chemicals Market, By Product Type:
- Bio-plastic
- Bio-based Degradable
- Polybutyrate Adipate Terephthalate (PBAT)
- Polyhydroxyalkanoate(PHA)
- Polybutylene Succinate (PBS)
- Starch Blends
- Polylactic Acid (PLA)
- Others
- Bio-based Non-degradable
- Polyethylene (PE)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Others
- Bio-lubricants
- Vegetable Oil
- Mineral Oil
- Bio-solvents
- Glycerol
- Ethanol
- Ketone
- Others
- Bio-surfactants
- Others
- Middle East Bio-chemicals Market, By Application:
- Chemical & Fertilizers
- Food & Beverages
- Pharmaceuticals
- Paint & coatings
- Automotive
- Packaging
- Personal Care & Cosmetics
- Others
- Middle East Bio-chemicals Market, By Country:
- Saudi Arabia
- Qatar
- UAE
- Egypt
- Kuwait
- Rest of Middle East
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