Middle East and Africa (MEA) Specialty Chemicals Market Being Driven by Increasing Specialty Chemicals Utilization in Oilfields

In 2017, the Middle-East and Africa (MEA) specialty chemicals market attained a value of $11,406.4 million and is expected to advance at a CAGR of 5.3% during the forecast period (2018-2023). The market is witnessing growth due to the increasing consumption of specialty chemicals in oilfields and advancements in agricultural practices in Africa. Specialty chemicals, also known as performance chemicals, are utilized as ingredients in the manufacturing processes of industrial and consumer goods. These chemicals are used for producing various types of products, such as electronics, petroleum products, paints, and detergents.

Request to get the sample pages of the report: https://www.psmarketresearch.com/market-analysis/mea-specialty-chemicals-market/report-sample

The MEA specialty chemicals market is categorized by type into polymer additives, electronic chemicals, lubricant & oilfield chemicals, agrochemicals, adhesives & sealants, construction chemicals, paper & textile chemicals, specialty coatings, plastic additives, surfactants, cleaning chemicals, food additives, and others. Among these, the category of lubricant & oilfield chemicals dominated the market during the historical period, holding more than 20.0% share in 2017. This was attributed to the production of a huge amount of crude oil in the region. Construction chemicals arepredicted to witness the fastest growth during the forecast period.

A major opportunity is being created in the MEA specialty chemicals market due to the growing demand for these chemicals from developing countries of the region. The demand for specialty chemicals from the developed countries of the MEA region has reached a saturation point as the end-use markets in these countries are mature. However, the requirement for these chemicals is increasing from the developing countries, especially African nations,and this demand is being created primarily by the electronics, agriculture, and construction sectors.

Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=mea-specialty-chemicals-market

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
By Type
South Africa Specialty Chemicals Market
By Type
Rest of MEA Specialty Chemicals Market
By Type

Contact:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.