Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) — The “GCC Specialty Chemicals Market Size, Share & Trends Analysis Report By Industry, By Country, And Segment Forecasts, 2025 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The GCC specialty chemicals market size is estimated to reach USD 46.08 billion by 2030, registering to grow at a CAGR of 4.0% from 2025 to 2030
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 CASE segment dominated the market and accounted for the largest revenue share of 39.8% in 2024. This growth is attributed to significant investments in construction and infrastructure projects, such as smart city initiatives such as NEOM
- The institutional & industrial cleaners segment is expected to grow at a CAGR of 5.1% over the forecast period. owing to rising awareness of hygiene and cleanliness across various sectors, including healthcare, hospitality, and food services.
- Saudi Arabia specialty chemicals market dominated the GCC market and accounted for the largest revenue share of 23.0% in 2024.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $36.71 billion |
| Forecasted Market Value (USD) by 2030 | $46.08 billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Middle East |
GCC Specialty Chemicals Market Variables, Trends & Scope
- GCC Specialty Chemicals Market Outlook
- Industry Value Chain Analysis
- Application Overview
- Average Price Trend Analysis
- Supply-Demand Gap Analysis, 2024
- Regulatory Framework
- Policies and Incentive Plans
- Standards and Compliances
- Regulatory Impact Analysis
- Market Dynamics
- Market Driver Analysis
- Market Restraint Analysis
- Industry Challenges
- Porter’s Five Forces Analysis
- PESTEL Analysis
Companies Featured
- Arkema Chemicals Saudi Arabia
- EVONIK GULF FZE
- Fayfa Chemical Factory (L.L.C.)
- Halliburton
- Horizon Chemicals
- Huntsman (UAE) FZE
- Professional Specialty Chemicals Factory (Ahmad Al Amoudi Group)
- SABIC
- Sadara Chemical Company
- Sika Group
- Tricom LLC
For more information about this report visit https://www.researchandmarkets.com/r/hoibf3
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- GCC Specialty Chemicals Market
