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Middle east bio chemicals market size, trends, shares, insights and forecast

Middle east bio chemicals market size, trends, shares, insights and forecast

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Middle east bio chemicals market size, trends, shares, insights and forecast

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. MIDDLE EAST BIO-CHEMICALS MARKET ANALYSIS Middle East Bio-chemicals Market Report, by Product Type (Bio-plastic, Bio-lubricants, Bio-solvents, Bio-surfactants, and Others), by Application (Chemical & Fertilizers, Food & Beverages, Pharmaceuticals, Paint & Coatings, Automotive, Packaging, Personal Care & Cosmetics, and Others), and by Country (Saudi Arabia, Qatar, UAE, Egypt, Kuwait, and Rest of Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. Middle East Bio-chemicals Market – Insights • 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. The company is developing innovative packaging products to enhance recyclability to create more sustainable packaging in the near future. Moreover, in October 2019, Henkel manufactured chemically recycled plastic bottles in coordination with Alpha Packaging. This product has been designed as an important step towards circular economy for plastic to reduce plastic pollution. Such activities by key manufacturers operating globally and in Middle East are expected to have positive impact on growth of bio-chemicals market throughout the forecast period.     • Raw materials used for the production of the bio-chemicals includes corn, sugarcane, sugar beet, wheat, and cassava, among others. Low costs associated with the production of these raw materials, the overall cost for the production of bio-based chemicals is comparatively low as compared to conventional non-renewable chemicals. These raw materials can also be produced on a large scale without any hindrances.

  4. Owing to stringent regulations on volatile organic substances (VOC’s), bio-based chemicals are higher in demand in the paints & coating industry. In addition, properties such as low corrosion, low toxicity, high solvency power, water miscible, and excellent pigment wetting are expected to fuel demand for bio-chemicals in the paint & coating industries. • Rising demand for natural & safe ingredients from the personal care & cosmetics industry is expected to drive demand for bio-based chemicals in Middle East. Polylactic acid and bio emulsifiers are widely used in the personal care industry for their moisturizing, sebum control, pH adjustment, anti-aging, and antimicrobial properties. • The Middle East Bio-chemicals market was pegged at 1,689.9 Kilo Tons in 2019, and is expected to exhibit a CAGR of 5.3% in terms of volume over the forecast period (2019-2027) to reach 2,677.9 Kilo Tons by the end of 2027. • Among application, the food & beverages segment was pegged at 198.8 Kilo Tons in 2018, and is expected to reach 301.4 Kilo Tons by end of 2027, exhibiting a CAGR of 4.8%. Bio-based chemicals are used in the manufacturing of food ingredients, which are used in the food processing industry. Growth of the packaged food industry in the Middle East is expected to drive demand for food ingredients, which is further expected to drive demand for bio-based chemicals.

  5. Figure 1: Middle East Bio-chemicals Market Volume (Kilo Tons), By Food & Beverages, 2017-2027

  6. Source: Coherent Market Insights, 2018 • 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.

  7. Figure 2: Middle East Bio-chemicals Market Share (%), By Region, 2018

  8. Source: Coherent Market Insights, 2018 • Major players operating in the Middle East Bio-chemicals market include BASF SE, Clariant A.G., Evonik Industries A.G., Total S.A., Cargill Inc., Biolive, Saudi Biodiesel, Saudi Bio-Acid Company, Sain Bag, and Neutral Fuels among others. • Increasing collaborations and partnerships between companies to generate bio-energy from biodiesel is expected to propel the bio-chemical market growth in Middle East. For instance, in March 2019, Cummins Dubai entered into a partnership with Neutral Fuels to generate power from its diesel generator for RIT Tiger Fest Music and Dance. The power is generated from 100% biodiesel (B100). This will help Neutral Fuels to expand its portfolio in the Middle East region.

  9. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/middle-east-bio-chemicals-market-3343

  10. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  11. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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