MEA Specialty Chemicals Market is Projected to Reach $15,491.2 Million by 2023 having Major Key Players: SABIC, Sadara Chemical Company, SAUDI SPECIALITY CHEMICAL INDUSTRIES CO. LTD, Thebe, AECI, Clariant, AkzoNobel, Evonik, BASF & DowDuPont

The market growth is mainly driven by the growing oil production, increasing usage of agrochemicals, and rising construction activities in the region. Specialty chemicals are also known as performance chemicals. They are used as ingredients in the manufacturing processes of consumer and industrial goods. These are low volume chemical products, which add significant value to different products. These chemicals can be used for producing a variety of products, including detergents, paints, electronics, and petroleum products.

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On the basis of type, the lubricant and oil field chemicals category has been holding the largest share in the MEA specialty chemicals market, because of its extensive use in the production of crude oil. The revival in the prices of crude oil and its growing demand from major oil importing countries is attributing to the largest share of the category in the MEA specialty chemicals market.

MEA has some of the largest oil producing countries in the world, namely, Saudi Arabia, Nigeria, and Algeria. These countries are also among the largest exporters of crude oil in the world and would continue to invest in the exploration and development of new oil fields.

Saudi Arabia has been leading the MEA specialty chemicals market, with a contribution of more than 60.0% revenue in 2017. The country is one of the largest producers of crude oil and is home to fast growing automotive and construction industries, both of which are major end users of specialty chemicals.

The demand for the product in the developed countries of the region has reached the maturity stage, owing to the saturate demand from end user industries. However, the demand of specialty chemicals in developing countries, particularly in African nations, has witnessed a rapid rise in recent years, mainly from the agriculture, electronics, and construction sectors.

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Some of the major players operating in the MEA specialty chemicals market are Saudi Basic Industries Corporation (SABIC), Sadara Chemical Company, Saudi Speciality Chemical Industries Co Ltd., Thebe Unico, AECI Ltd, Clariant AG, Akzo Nobel N.V., Evonik Industries AG, BASF SE, and DowDuPont Inc.

MEA SPECIALTY CHEMICALS MARKET SEGMENTATION
By Type
• Agrochemicals
• Construction Chemicals
• Specialty Coatings
• Surfactants
• Food Additives
• Polymer Additives
• Electronic Chemicals
• Cleaning Chemicals
• Plastic Additives
• Paper & Textile Chemicals
• Adhesive & Sealants
• Lubricant & Oilfield Chemicals
• Others (water treatment chemicals, advanced ceramic materials, rubber processing chemicals, and mining chemicals)
By Country
• Saudi Arabia Specialty Chemicals Market
o By Type
• South Africa Specialty Chemicals Market
o By Type
• Rest of MEA Specialty Chemicals Market
o By Type

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