Middle East Bio-chemicals Market | BASF SE, Clariant A.G., Evonik Industries A.G., Total S.A., Cargill Inc.

Traditional chemicals that are derived from petroleum sources are dominant than bio-based chemicals. However, owing to increasing investment by chemical manufacturers in research & development to establish more efficient process to use bio-resources, bio-chemical industry is expected to gain major traction over the forecast peiod.

Sustainable manufacturers are shifting their preference towards Bio-chemicals and hence demand for Bio-chemicals is increasing. In order to reduce plastic pollution, leading packaging manufcaturers are adopting sustainable strategies to offer environment friendly products. For instance, in June 2019, Berry Global Group Inc. signed the new Plastic Economy Commitment led by the Ellen MacArthur Foundation to eliminate plastic pollution at its source.

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Detailed Segmentation:

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

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Saudi Arabia accounted for the largest market share of around 40% in 2018. The country is expected to retain its dominance throughout the forecast period. In Saudi Arabia, non-biodegradable plastic packaging products were banned in 2017, and according to the new government regulations, plastics needs to be OXO-biodegradable.

According to regulations of the Saudi organizations such as Saudi Standards, and Metrology and Quality Organization (SASO), plastic products must be manufactured from approved OXO-biodegradable material. This regulation is applicable for production and import of plastic packaging in Saudi Arabia. Such government policies and regulations are expected to drive demand for bio-based chemicals and materials in the packaging industry in the region.

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This release was published on openPR.