Middle East Bio-Chemicals Market was pegged at 1,998.5 Kilo Tons in 2022, and is expected to exhibit a CAGR of 6.57% over the forecast period.
According to Middle East Bio-chemicals Market Report, 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) as published by Coherent Market Insights.
Growing preference among end users about adoption of sustainable processes or techniques is expected to create growth opportunities for manufacturers in the Middle East bio-chemicals market. Increasing preference for sustainable, natural, and environmental friendly processes and materials in the chemical industry is expected to drive the market growth. Green chemistry is one of the rapidly growing and developing fields, as this technique is aimed at manufacturing products in a sustainable and eco-friendly way.
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Browse 58 market data tables* and 34 figures* on “Middle East Bio-chemicals Market” – Forecast to 2030.
Key Trends and Analysis of the Middle East Bio-chemicals Market:
- Bio- chemicals are used in the manufacturing of food ingredients that are used in the food processing industry. Growing packaged food industry is expected to boost demand for food ingredients, and this is expected to boost demand for bio- chemicals. For instance, according to the U.S. Department of Agriculture, Saudi Arabia’s packaged food industry was valued at US$ 40000 million in 2016, and is expected to reach US$ 60000 million by 2022.
- Companies operating in the region are shifting to sustainable packaging solution, and this is expected to boost demand for bio-plastics in the region. For instance, in October 2018, Splash, afashion retailer in the Middle East, entered into a partnership with Natur-Tec, a manufacturer of bio-plastics, to offer biopolymer-based packaging solution in Middle East & South Asian region. Through this partnership, Splash’s polybags were replaced by bio-plastics.
The production of bio-chemicals is relatively low in Middle East as compared to the other regions such as North America and Europe, and therefore, price of bio-based chemicals are comparatively higher than in Middle East than other regions. Moreover, lack of government policies and regulations about production and usage of bio-chemicals in the Middle East is expected to hamper the market growth.
Key Takeaways of the Market:
- Bio-solvents segment is expected to witness growth over the forecast period. Bio-solvents are produced using biomass that is derived from corn, sugar, or beet. Bio-solvents production does not release any toxic by-products or volatile organic compounds. Bio- solvents offer high boiling point, low miscibility, and low toxicity that makes it a suitable option to replace conventional solvents. These solvents is used in various industries. For instance, Cargill Inc., offers Agri-Pure AP-406 bio- solvent (available in Middle East, Europe, and Africa) that is used in inks, lubricants, adhesives, fine chemical, and agrochemical industry.
- Key companies 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 Market players operating in the Middle East bio-chemicals market are focused on investments to launch new bio-chemicals to strengthen their position in the market. For instance, in 2016, BASF SE, launched Ecovio EA, a bio-based product consisting BASF biopolymer ecoflex and polylactic acid. The product is used in the packaging industry. Moreover, in August 2015, BASF SE, launched Sovermol, a new bio-based polyol with high stability and durability that is used as coating for indoor floorings.
- Moreover, the pandemic has had a mixed influence on the bio-based industry, with some companies providing technical solutions to combat the outbreak. Because of the shift in worldwide diets caused by the worldwide pandemic, basic commodities and canned goods are in great demand. With demanding restrictions and lockdowns all around the world, there has been a stockpile of lasting foods such as wheat, rice, sugar, and others. The utilisation of agricultural raw materials for production of bio-based chemicals is predicted to drop as demand for agricultural products such as wheat, rice, potatoes, and edible oils rises.
