MEA chemical industry is expected to see a CAGR of around 2.4% during the period (2019-2025). The Middle East’s chemical industry has grown significantly over the past two decades. Saudi Arabia, Qatar, and Iran are the key economies of MEA region that contributes highest in the growth of the chemical industries, primarily impacting the market growth in the region. The Middle East’s chemical industry has grown significantly over the past two decades. Industrial output in the Middle East is largely focused on the production of refined petroleum and basic chemicals, particularly petrochemicals, as there is an easy access to low-cost oil and gas. However, the decline in global oil prices coupled with the intense competition from the US and EU region, have contributed to efforts to diversify away from purely supplying crude oil, and more towards developing the downstream supply chain. For instance, The Sadara chemicals complex, a joint-venture between Saudi Aramco and Dow Chemical will improve the large-scale investments which aim to develop the region’s downstream chemical sector.

The Africa’s chemical industry is majorly contributed by South Africa and Morocco. While upstream activities are concentrated in South Africa, the downstream sector remains relatively underdeveloped. The production of synthetic coal and natural gas-based liquid fuels and petrochemicals is prominent, with South Africa being the world leader in coal-based synthesis and gas-to-liquids (GTL) technologies. In Morocco, the presence of the Office Cherifien des Phosphates (OCP), a leader in the phosphates industry (used in agriculture as fertilizer), drives the chemical sector’s footprint in the country. Thus, these factors altogether were driving the chemical sector in the region pre-COVID scenario. 

MEA chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted with the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see a least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.

The major chemical companies in the region include Qatar Petrochemical Co., SABIC, Sasol Ltd., Sadara Chemical Co., and Saudi Arabian Oil Co. Due to the outbreak of COVID-19, SABIC is expected to see a slowdown in 2020. The company is working continuously to create hygiene products by offering a broad portfolio of polymers for nonwovens, film and laminates to fight against the COVID-19 outbreak. On April 9, 2020, the company launched a non-chlorinated and non-brominated opaque sheet, LEXAN CLINIWALL AC6200. The sheet aims to provide a hygienic, sanitary solution for interior surfaces to several industries across the globe.  

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the MEA chemical industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on chemical industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of MEA chemical industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting MEA chemical industry.
• Insights about market determinants which are stimulating MEA chemical industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.