GCC Specialty Chemicals Market Size, Share & Trends Analysis Report By Product (Construction Chemicals, Industrial & Institutional Cleaners, Oilfield Chemicals, Specialty Polymers), And Segment Forecasts, 2020 - 2027
GCC Specialty Chemicals Market Growth & Trends
The GCC specialty chemicals market size is expected to surpass USD 31.0 billion by 2027, exhibiting a CAGR of 4.5% during the forecast period, as per a new report by Grand View Research Inc. Expanding oil and gas, and construction and building industries along with the lucratively growing industries such as automotive, textiles and water treatment among others, in the region are the major factors driving the market growth.
Prominence of oil and gas sector in GCC countries including Saudi Arabia, UAE, Qatar, Oman, and Kuwait has driven the growth of oilfield chemicals such as corrosion inhibitors, demulsifiers, and other high-performance function-based products. Furthermore, government initiatives in line with Vision 2030 focused on economic diversification and reducing their revenue dependence on oil owing to the vulnerabilities of price fluctuations and declining demand in oil & gas sector, is likely to create demand for products from other booming industries in the region. These industries include construction and building, textiles, automotive, and personal care and cosmetics among others. Therefore, the demand for textile additives, polymers, coatings, adhesives, sealants, cosmetic additives, and plastic additives is expected to rise in the forthcoming years.
Rapid growth of construction and building industry of GCC with several upcoming construction projects such as smart cities-NEOM and King Abdullah Economic City-are expected to create a significant demand from construction end use for products such as corrosion inhibitors, waterproofing and wear and tear protection additives among others. Saudi Arabia and UAE that account for 17.2% and 5.7% of the global proved oil reserves are expected to be major markets for oilfield chemicals. Rising sales of cars driven by a few macroeconomic factors including population growth, urbanization, and income growth has driven the demand of automobiles in the region. In addition, new projects of automotive hub development in Saudi Arabia is likely to extend the demand for specialty polymers, coatings, and catalysts. COVID-19 pandemic which has impacted the economies across the geographies, especially U.S., Italy, China, France, Germany, and Spain among others has disrupted the supply chain and resulted in a sharp decline in oil demand owing to industrial shutdowns. This is likely to indirectly restrict the regional market growth.
Government support and new projects coming up in the region have attracted significant players into the GCC market in order to tap such growth opportunities. International players are entering into the market via acquisition, collaboration or alliance with the players of GCC players, for instance the joint venture between The Dow Chemical Company and Saudi Arabian Oil Co. for the formation of Sadara Chemical Company. This is likely to expand the market in region and drive intense competition amongst domestic as well as global players.
GCC Specialty Chemicals Market Report Highlights
The GCC specialty chemicals market size is expected to surpass USD 31.0 billion by 2027, exhibiting a CAGR of 4.5% during the forecast period, as per a new report by Grand View Research Inc. Expanding oil and gas, and construction and building industries along with the lucratively growing industries such as automotive, textiles and water treatment among others, in the region are the major factors driving the market growth.
Prominence of oil and gas sector in GCC countries including Saudi Arabia, UAE, Qatar, Oman, and Kuwait has driven the growth of oilfield chemicals such as corrosion inhibitors, demulsifiers, and other high-performance function-based products. Furthermore, government initiatives in line with Vision 2030 focused on economic diversification and reducing their revenue dependence on oil owing to the vulnerabilities of price fluctuations and declining demand in oil & gas sector, is likely to create demand for products from other booming industries in the region. These industries include construction and building, textiles, automotive, and personal care and cosmetics among others. Therefore, the demand for textile additives, polymers, coatings, adhesives, sealants, cosmetic additives, and plastic additives is expected to rise in the forthcoming years.
Rapid growth of construction and building industry of GCC with several upcoming construction projects such as smart cities-NEOM and King Abdullah Economic City-are expected to create a significant demand from construction end use for products such as corrosion inhibitors, waterproofing and wear and tear protection additives among others. Saudi Arabia and UAE that account for 17.2% and 5.7% of the global proved oil reserves are expected to be major markets for oilfield chemicals. Rising sales of cars driven by a few macroeconomic factors including population growth, urbanization, and income growth has driven the demand of automobiles in the region. In addition, new projects of automotive hub development in Saudi Arabia is likely to extend the demand for specialty polymers, coatings, and catalysts. COVID-19 pandemic which has impacted the economies across the geographies, especially U.S., Italy, China, France, Germany, and Spain among others has disrupted the supply chain and resulted in a sharp decline in oil demand owing to industrial shutdowns. This is likely to indirectly restrict the regional market growth.
Government support and new projects coming up in the region have attracted significant players into the GCC market in order to tap such growth opportunities. International players are entering into the market via acquisition, collaboration or alliance with the players of GCC players, for instance the joint venture between The Dow Chemical Company and Saudi Arabian Oil Co. for the formation of Sadara Chemical Company. This is likely to expand the market in region and drive intense competition amongst domestic as well as global players.
GCC Specialty Chemicals Market Report Highlights
- Oilfield chemicals, construction chemicals and specialty polymers collectively held more than 25% of the market value in 2019
- Construction chemicals and specialty polymers are expected to witness prominent growth over the forecast period while expanding at CAGRs of more than 5.0% during the forecast period
- Personal care and cosmetic ingredients and industrial & institutional cleaners are expected to witness lucrative growth between 2020 and 2027
- Saudi Arabia is likely to hold a dominant market value share, accounting for more than 50% in the whole of GCC region in 2019
- Strategic alliance with other players in order to increase market penetration and profit margins are likely to be witnessed more during the forecast period
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Gvr’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.3.6 Primary Sources
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Research Scope And Assumptions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Market Snapshot
2.2 Segment Outlook
2.3 Competitive Insights
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market Lineage
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis (Demand, Supply, And Economic Side)
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges And Opportunities
3.6 Business Environment Analysis:
3.6.1 Porter’s Five Forces Analysis
3.6.2 Pestel Analysis
CHAPTER 4 GCC SPECIALTY CHEMICALS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
4.1 Definition & Scope
4.2 Type Movement Analysis & Market Share, 2019 & 2027
4.3 Market Size & Forecasts And Trend Analysis, 2016 To 2027 For The Following
4.3.1 Specialty Polymers
4.3.2 Institutional & Industrial Cleaners
4.3.3 Electronic Chemicals
4.3.4 Rubber Processing Chemicals
4.3.5 Flavors & Fragrances
4.3.6 Construction Chemicals
4.3.7 Food & Feed Additives
4.3.8 Cosmetic Chemicals
4.3.9 Oilfield Chemicals
4.3.10 Mining Chemicals
4.3.11 Pharmaceutical & Nutraceutical Additives
4.3.12 Plastic Additives
4.3.13 Printing Inks
4.3.14 Case (Coatings, Adhesives, Sealants & Elastomers)
4.3.15 Specialty Pulp & Paper Chemicals
4.3.16 Specialty Textile Chemicals
4.3.17 Catalysts
4.3.18 Water Treatment Chemicals
4.3.19 Corrosion Inhibitors
4.3.20 Flame Retardants
4.3.21 Others
CHAPTER 5 GCC SPECIALTY CHEMICALS MARKET: COUNTRY ESTIMATES & TREND ANALYSIS
5.1 Definition & Scope
5.2 Country Movement Analysis & Market Share, 2019 & 2027
5.3 Gcc
5.3.1 Saudi Arabia
5.3.1.1 Saudi Arabia Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.2 Uae
5.3.2.1 Uae Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.3 Kuwait
5.3.3.1 Kuwait Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.4 Oman
5.3.4.1 Oman Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.5 Qatar
5.3.5.1 Qatar Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.6 Bahrain
5.3.6.1 Bahrain Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
CHAPTER 6 GCC SPECIALTY CHEMICALS MARKET: COMPETITIVE LANDSCAPE
6.1 List Of Key Market Participants
6.2 Key Players’ Recent Developments & Their Impact
6.3 Key Innovators, Market Leader, And Emerging Players
6.4 Vendor Landscape
6.4.1 List Of Key Distributors And Channel Partners
6.4.2 Key Customers
CHAPTER 7 GCC SPECIALTY CHEMICALS MARKET: COMPANY PROFILES
7.1. Horizon Chemicals
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Professional Specialty Chemicals Factory (Ahmad Al Amoudi Group)
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. SABIC
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. Sika Group
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. EVONIK GULF FZE
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Huntsman (UAE) FZE
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Arkema Chemicals Saudi Arabia
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Halliburton
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Sadara Chemical Company
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Fayfa Chemical Factory (L.L.C.)
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Tricom LLC
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Gvr’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.3.6 Primary Sources
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Research Scope And Assumptions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Market Snapshot
2.2 Segment Outlook
2.3 Competitive Insights
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market Lineage
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis (Demand, Supply, And Economic Side)
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges And Opportunities
3.6 Business Environment Analysis:
3.6.1 Porter’s Five Forces Analysis
3.6.2 Pestel Analysis
CHAPTER 4 GCC SPECIALTY CHEMICALS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
4.1 Definition & Scope
4.2 Type Movement Analysis & Market Share, 2019 & 2027
4.3 Market Size & Forecasts And Trend Analysis, 2016 To 2027 For The Following
4.3.1 Specialty Polymers
4.3.2 Institutional & Industrial Cleaners
4.3.3 Electronic Chemicals
4.3.4 Rubber Processing Chemicals
4.3.5 Flavors & Fragrances
4.3.6 Construction Chemicals
4.3.7 Food & Feed Additives
4.3.8 Cosmetic Chemicals
4.3.9 Oilfield Chemicals
4.3.10 Mining Chemicals
4.3.11 Pharmaceutical & Nutraceutical Additives
4.3.12 Plastic Additives
4.3.13 Printing Inks
4.3.14 Case (Coatings, Adhesives, Sealants & Elastomers)
4.3.15 Specialty Pulp & Paper Chemicals
4.3.16 Specialty Textile Chemicals
4.3.17 Catalysts
4.3.18 Water Treatment Chemicals
4.3.19 Corrosion Inhibitors
4.3.20 Flame Retardants
4.3.21 Others
CHAPTER 5 GCC SPECIALTY CHEMICALS MARKET: COUNTRY ESTIMATES & TREND ANALYSIS
5.1 Definition & Scope
5.2 Country Movement Analysis & Market Share, 2019 & 2027
5.3 Gcc
5.3.1 Saudi Arabia
5.3.1.1 Saudi Arabia Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.2 Uae
5.3.2.1 Uae Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.3 Kuwait
5.3.3.1 Kuwait Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.4 Oman
5.3.4.1 Oman Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.5 Qatar
5.3.5.1 Qatar Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
5.3.6 Bahrain
5.3.6.1 Bahrain Specialty Chemicals Market Value Estimates & Forecasts, By Product, 2016 - 2027
CHAPTER 6 GCC SPECIALTY CHEMICALS MARKET: COMPETITIVE LANDSCAPE
6.1 List Of Key Market Participants
6.2 Key Players’ Recent Developments & Their Impact
6.3 Key Innovators, Market Leader, And Emerging Players
6.4 Vendor Landscape
6.4.1 List Of Key Distributors And Channel Partners
6.4.2 Key Customers
CHAPTER 7 GCC SPECIALTY CHEMICALS MARKET: COMPANY PROFILES
7.1. Horizon Chemicals
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Professional Specialty Chemicals Factory (Ahmad Al Amoudi Group)
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. SABIC
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. Sika Group
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. EVONIK GULF FZE
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Huntsman (UAE) FZE
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Arkema Chemicals Saudi Arabia
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Halliburton
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Sadara Chemical Company
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Fayfa Chemical Factory (L.L.C.)
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Tricom LLC
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
LIST OF TABLES
Table 1 GCC Specialty Chemicals market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 2 GCC Specialty Chemicals market value estimates & forecasts, by Country, 2016 - 2027 (USD Million)
Table 3 Saudi Arabia market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 4 UAE market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 5 Kuwait market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 6 Oman market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 7 Qatar market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 9 Bahrain market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 10 List of key market participants
Table 11 Key global players & recent development & their impact
Table 12 Key innovators, market leaders, and emerging players
Table 13 List of key distributors and channel partners
Table 14 Key Customers
Table 1 GCC Specialty Chemicals market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 2 GCC Specialty Chemicals market value estimates & forecasts, by Country, 2016 - 2027 (USD Million)
Table 3 Saudi Arabia market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 4 UAE market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 5 Kuwait market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 6 Oman market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 7 Qatar market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 9 Bahrain market value estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 10 List of key market participants
Table 11 Key global players & recent development & their impact
Table 12 Key innovators, market leaders, and emerging players
Table 13 List of key distributors and channel partners
Table 14 Key Customers
LIST OF FIGURES
Fig. 1 GCC Specialty Chemicals market Segmentation & Scope
Fig. 2 Information Procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 GCC Specialty Chemicals Market Snapshot
Fig. 7 Freshwater resources share in GCC countries, 2019
Fig. 8 Real Private Consumption & Non-Oil GDP in Saudi Arabia (USD Million), 2010-17
Fig. 9 GCC Refining Capacity (Thousand Barrels Daily), 2014-2018
Fig. 10 GCC Refining Capacity (Thousand Barrels Daily), 2014-2018
Fig. 11 GCC specialty chemicals market value share, by product, 2019 & 2027
Fig. 12 GCC Light Vehicles Demand (in Thousands), 2018 & 2021
Fig. 13 GCC Contractor Awards, Value (USD Mn), 2018 & 2019
Fig. 14 GCC Food Consumption and Country-Wise Split
Fig. 15 GCC Oil Production in thousands of barrels per day (2015-18)
Fig. 16 GCC Natural gas liquids production in thousands of barrels per day (2015-18)
Fig. 17 GCC Specialty Chemicals market value share by Country, 2019 & 2027
Fig. 1 GCC Specialty Chemicals market Segmentation & Scope
Fig. 2 Information Procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 GCC Specialty Chemicals Market Snapshot
Fig. 7 Freshwater resources share in GCC countries, 2019
Fig. 8 Real Private Consumption & Non-Oil GDP in Saudi Arabia (USD Million), 2010-17
Fig. 9 GCC Refining Capacity (Thousand Barrels Daily), 2014-2018
Fig. 10 GCC Refining Capacity (Thousand Barrels Daily), 2014-2018
Fig. 11 GCC specialty chemicals market value share, by product, 2019 & 2027
Fig. 12 GCC Light Vehicles Demand (in Thousands), 2018 & 2021
Fig. 13 GCC Contractor Awards, Value (USD Mn), 2018 & 2019
Fig. 14 GCC Food Consumption and Country-Wise Split
Fig. 15 GCC Oil Production in thousands of barrels per day (2015-18)
Fig. 16 GCC Natural gas liquids production in thousands of barrels per day (2015-18)
Fig. 17 GCC Specialty Chemicals market value share by Country, 2019 & 2027
