UAE
Specialty Chemicals Market is anticipated to observe impressive growth during
the forecast period, 2024-2028. The major factors include massive demand from
various end user industries such as paints and coatings, cosmetics, and
personal care, automotive and construction, and focus of extensive R&D by
manufacturers are augmenting the growth of the market.
Specialty
chemicals are substances that are employed based on their functionality or
performance. As a result, they are sometimes referred to as
"performance" or "formulation" chemicals. These may be
special molecules or molecular assemblages called formulations. Incorporation
of specialty chemicals in pharmaceuticals to produce drugs such as Paracetamol
and Vitamin K makes the production process cleaner and greener. Specialty
chemicals are gaining popularity in water treatment plants and paper industries.
The Specialty Chemicals Market is expected to grow significantly throughout
the projection year because of the rising demand from textile industries where it
acts as bleach activator. The other factors
supporting the market’s growth are increasing demand of
agrochemicals with increasing population and replacing fossil-based
predecessors with biochemicals for eco-friendly approach for
industrialization. Additionally, the demand from cosmetics and personal care
industry including skincare, haircare and oral care is rising in the UAE
Specialty Chemicals market. Also, expanding demand of toiletries, fragrances
and color cosmetics is rising in the UAE Specialty Chemicals Market in the
forecast period. According to International Trade Administration, the UAE
government is taking strong action to combat pirated goods and persuades US exporters with quality brands
and valuable trademarks into the 1.3 billion USD beauty and personal care
product market.
Rising
Demand from Pharmaceuticals Industries
The
pharmaceutical industry in the UAE offers substantial growth potential. Many
big multinational pharmaceutical corporations in the world currently have
regional headquarters and manufacturing facilities in the UAE. The need for pharmaceutical products has grown due to competitive
developments, improved and less invasive procedures, and improvements in
high-risk treatments. Specialty chemicals are assimilated for the drugs
manufacturing for cardio-vascular disease, Hughes syndrome, and skin-care
diseases. They are created from fundamental chemical compounds in sizable
reactors at various manufacturing facilities. Following processing, the base or
chemical component becomes an intermediary that creates the medicinal ingredient. The base or chemical component, after processing, functions as an
intermediary to produce the medicinal ingredient. According to data released
by Dubai Customs, the value of the city's international trade in
pharmaceuticals and medical supplies reached USD 1.85 billion for Q1 2021,
which is considered as an increase of 31% from USD 1.42 billion during the same
period in 2020.
Increasing
demand from multiple end-user industry
Specialty Chemicals
have a wide application in different sectors. High demand for specialty chemicals for water treatment including
water softening, demineralization plant, multigrade filter, reverse osmosis,
fire side treatment require Micro Biocides, pH Reducer, Bio
Dispersant, Corrosion cum Scale Inhibitor, Antiscalant, and Antifoulant which
propels the Specialty Chemicals Market.
Also, the increasing
demand from sugar industry for Antiscalant and viscosity reducer as well as in
distillery industry for confessors and defoamer which in turn is expected to drive the growth of the UAE Specialty
Chemicals Market. According to SCAD government water statistics 2019, Abu
Dhabi city consumes 63% of the total Emirates desalinated water.
The widespread
application of Specialty Chemicals in paints and coatings, food and beverage,
automotive and transport, alternative energy, adhesives, cleaning agents,
polymers, and agrichemicals leads to the huge demand for specialty chemicals. Farmers' growing awareness of the use of agrochemicals on their
farms is expected to fuel the market's expansion. The agricultural land has
been degraded and reduced because of increased industrialization and
urbanization, but food demand is rising at the same rate. This spurs an
increase in the production of crops per acre of land, driving up the demand for
agrochemicals and accelerating the growth of the Specialty Chemical Market during
the forecast period.
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Recent
Developments
· In February 2023, the AstraZeneca
announces its establishment in Dubai with an agenda and in-line with “We the
UAE 2031” vision and the Year of Sustainability.
· In June 2022, for the
"Make it in the Emirates" over 20 big industries signed Expressions
of Interest for activities in the TA'ZIZ Light Industrial and Services Zones.
Market
Segmentation
UAE
Specialty Chemicals Market is segmented into application, region, and company. Based on application, the market is divided into construction
chemicals, dyes & pigments, agrochemicals, surfactants, and others. In terms of region, the
market is segmented into Northern & Central, Southern,
Eastern, and Western.
Market Players
SERVOCHEM L.L.C, Tricom LLC, BASF Middle East LLC, Genome
Specialties FZC, Global Speciality Chemical (GSC), H.A.K Industrial Chemicals
LLC, ALXA SPECIALTY DMCC are some of the leading companies operating in the
market.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
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Historic Data
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2018 –
2021
|
|
Estimated Year
|
2023
|
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Forecast Period
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2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million, Volume Units and CAGR for 2018-2022
and 2023-2028
|
|
Report coverage
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Revenue
forecast, Volume forecast company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
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Application
Company
|
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Regional scope
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Northern
& Central, Southern, Eastern, and Western
|
|
Key companies profiled
|
SERVOCHEM L.L.C, Tricom
LLC, BASF Middle East LLC, Genome Specialties FZC, Global Speciality Chemical
(GSC), H.A.K Industrial Chemicals LLC, ALXA SPECIALTY DMCC
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet
your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, UAE Specialty Chemicals
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
UAE Specialty Chemicals
Market by Application:
o Construction Chemicals
o Dyes & Pigments
o Agrochemicals
o Surfactants
o Others
·
UAE Specialty Chemicals
Market, By Region:
o
Northern
& Central
o
Southern
o
Eastern
o
Western
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present UAE Specialty Chemicals Market
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
UAE Specialty Chemicals
Market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]