Middle East Sulfonic Acid Market Outlook 2022-2028 - Escalating FDI and Government Spending, and Growing Tourism Propelling Growth

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Aug 24, 2022, 13:15 ET

DUBLIN, Aug. 24, 2022 /PRNewswire/ -- The "Middle East Sulfonic Acid Market Outlook: Market Forecast By Applications,By End Users (Construction, Cosmetic And Personal Care, Paints And Coatings, Pharmaceutical, Chemical Manufacturing, & Others),By Countries And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

According to the publisher, Middle East Sulfonic Acid Market revenue size is projected to grow at a CAGR of 6.2% during 2022-2028

Middle East Sulfonic Acid Market report thoroughly covers market by applications, end users and countries. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Middle East Sulfonic Acid Market Synopsis

Middle East sulfonic acid market witnessed a slight decline during the period 2018-2019 on account of economic downfall due to fall in oil prices. However, recovered in 2021 as a result of several large-scale infrastructure projects in the region.

The upsurge in the construction activities in different horizons of commercial and residential spaces entailing the new projects related to hotels, resorts, entertainment centres, shopping malls and the huge influx of FDI in the retail and construction sectors were the key catalysers for the overall growth of sulfonic acid across the region.

In year 2020, due to COVID-19 pandemic led measures, lockdowns and restriction on international trade resulted in a slight slowdown in the sulfonic acid market due to supply chain disruption and therefore, refraining the growth of sulfonic acid market during the year 2020.

The government initiatives for broaden your horizons of the oil-based economy led to rapid infrastructural growth including growth of construction sector along with residential sector and commercial sector would act as a critical driving force behind the growth of the market in the country during the forecast period.

Moreover, escalating FDI and government spending, and growing tourism are some of the factors leading to the growth of the market in the forecast period. Additionally, the burgeoning surfactants sector is also expected to play a motivating role. The growing need for coating and painting of newly developed infrastructure and government facilities would further augment the demand for sulfonic acid in the forthcoming period.

Market by Applications Analysis

In terms of Applications, Resins segment accounted for the maximum market revenue share in 2021 owing to government's focus on the infrastructural projects that boosted the demand for architectural and decorative paints and coatings.

Market by End Users Analysis

In terms of End Users, Construction segment accounted for the maximum market revenue share in 2021 owing to government aim to diversify the economic due to which large scale investment is provided to ongoing infrastructure development projects in Middle East region.

Market by Countries Analysis

In terms of Countries, Saudi Arabia acquired highest share in the Middle East sulfonic acid market in 2021 in terms of revenue as the kingdom's plans to develop sea-ports, railway lines, manufacturing facilities and airports, with an aim to increase investment in non-oil sectors.

Key Attractiveness of the Report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2018 to 2021.
Base Year: 2021
Forecast Data until 2028.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report

Middle East Sulfonic Acid Market Overview
Middle East Sulfonic Acid Market Outlook
Middle East Sulfonic Acid Market Forecast
Middle East Sulfonic Acid Market Growth
Historical Data and Forecast of Middle East Sulfonic Acid Market Revenues for the Period 2018-2028F
Historical Data and Forecast of Middle East Sulfonic Acid Market Revenues, By Applications for the Period 2018-2028F
Historical Data and Forecast of Middle East Sulfonic Acid Market Revenues, By End Users for the Period 2018-2028F
Historical Data and Forecast of Middle East Sulfonic Acid Market Revenues, By Countries for the Period 2018-2028F
Market Drivers and Restraints
Middle East Sulfonic Acid Market Trends
Industry Life Cycle
Middle East Sulfonic Acid Market - Market Scope and Segments
Porter's Five Forces
Market Opportunity Assessment
Middle East Sulfonic Acid Market Shares, By Company
Market Competitive Benchmarking
Company Profiles