MIDDLE EAST BIO-CHEMICALS MARKET ANALYSIS

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 )and (Bio-based Non-degradable-Polyethylene (PE), Polyamide (PA), Polyethylene Terephthalate (PET), Others), (Bio-lubricants-Vegetable Oil, Mineral Oil) (Bio-solvents-Glycerol, Ethanol, Ketone, Others) 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)-

Published In : Apr 2023
Code : CMI3343
Pages :200
Formats :
Excel and PDF
Industry : Specialty and Fine Chemicals

Market Challenges And Opportunities

Middle East Bio-chemicals Market- Restraints

High Capital Costs of Bio-chemicals

The production of Bio-chemicals requires huge investment in technology and infrastructure that can be a barrier for smaller companies or those with limited funding. Building a bio-refinery or other bio-based production facility requires high capital investment. This factor can hinder the market growth during the forecast period.

Middle East Bio-chemicals Market- Drivers

Rising Demand For Natural & Safe Ingredients from Personal Care & Cosmetics Industry

Rising demand for natural & safe ingredients from personal care & cosmetics industry is expected to boost demand for bio-chemicals in Middle East. Polylactic acid and bio emulsifiers are used in the personal care industry due to its moisturizing, sebum control, pH adjustment, anti-aging, and antimicrobial properties. Moreover, due to stringent regulations on volatile organic substances (VOC’s), there is huge demand for bio- chemicals in the paints & coatings industry. Properties such as low corrosion, low toxicity, high solvency power, water miscible, and excellent pigment wetting are expected to boost demand for Bio-chemicals in the paint & coating industries.

Rising Government Initiatives

Governments in the Middle East are promoting the usage of Bio-chemicals in various sectors including agriculture, construction, and healthcare. For instance, in 2030, the Saudi Arabia government is investing in the production of biofuels and bio- chemicals, while the UAE government has launched the “Bioeconomy Strategy 2030” to promote the usage of bio-based products and technologies in various sectors. This factor is expected to drive the market growth during the forecast period.