Wilmington, Delaware, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Middle East and Africa Bio-based Chemicals Market value is estimated at US$ 6.2 billion in 2023 and is expected to grow at a significant CAGR of over 10.2% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Bio-based chemicals are environmentally benign and sustainable alternatives to typical petrochemical-based chemicals due to their renewable sources. The MEA region is abundant in natural resources and agricultural feedstock, ensuring a steady supply of raw materials for bio-based chemical manufacturing. Sugarcane, maize, and cellulose are easily available biomass sources in countries around the region.
Several governments in the MEA region have implemented policies and initiatives to promote the development and adoption of bio-based chemicals. Incentives, subsidies, and regulations supporting the use of renewable resources have encouraged investment and market growth.
- According to a deep-dive market assessment by RationalStat, the Middle East and Africa Bio-based Chemicals market has been analyzed on the basis of market segments, including product, feedstock, application, and geography/regions (including GCC, South Africa, Turkey, Rest of the Middle East & Africa). The report also offers Australia and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Middle East and Africa Bio-based Chemicals market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Middle East and Africa Bio-based Chemicals market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Middle East and Africa Bio-based Chemicals Market: Segmental and Market Share Analysis
- On the basis of product, bio-based polymers segment such as polylactic acid (PLA) and polyhydroxyalkanoates (PHA) is dominating the market and are biodegradable and have a wide range of applications in packaging, textiles, automotive etc.
- On the basis of application, packaging segment is dominating the Middle East and Africa bio-based chemicals market. This is due to the increasing demand for sustainable packaging materials. Bio-based chemicals are used in the production of a variety of packaging materials, including bioplastics, bio-based resins, and bio-based adhesives.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 6.2 million |
| Market Size Forecast | US$ 12.2 million |
| Growth Rate | 10.2% |
| Dominating Segment | Bio-based polymers |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.
Some of the prominent players and suppliers operating and contributing significantly to the Middle East and Africa Bio-based Chemicals market growth include BASF SE, DuPont de Nemours, Inc., Solvay SA, Global Bio-Chem Technology Group Co., Ltd., Corbion N.V., Eastman Chemical Company, NatureWorks LLC, BioAmber Inc., Soreplast Biopolymers, Algae Planet, Bio-Based Technologies, Inc., and Bio-Organic, among others.
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RationalStat has segmented the Middle East and Africa Bio-based Chemicals market based on product, feedstock, application and region
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Product
- Bio-based Solvents
- Bio-based Lubricants
- Bio-based Alcohols
- Bio-based Acids
- Bio-based Adhesives
- Bio-based Polymers
- Others
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Feedstock
- Sugar and Starch Crops
- Vegetable Oils
- Lignocellulosic Biomass
- Others (Algae, Microorganism, etc.)
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Application
- Food & Beverages
- Agriculture
- Automotive
- Personal Care
- Packaging
- Detergents & Cleaner
- Paints & Coatings
- Adhesives and Sealants
- Textile and Fibers
- Pharmaceutical
- Others (Paint Dispersion, etc.)
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- GCC Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Saudi Arabia
- UAE
- Kuwait
- Bahrain
- Qatar
- Oman
- South Africa Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis
- Turkey Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis
- Rest of the Middle East & Africa Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- GCC Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Middle East and Africa Bio-based Chemicals Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Gluten-Free Products Report:
- What will be the market value of the Middle East and Africa Bio-based Chemicals market by 2030?
- What is the market size of the Middle East and Africa Bio-based Chemicals market?
- What are the market drivers of the Middle East and Africa Bio-based Chemicals market?
- What are the key trends in the Middle East and Africa Bio-based Chemicals market?
- Which is the leading region in the Middle East and Africa Bio-based Chemicals market?
- What are the major companies operating in the Middle East and Africa Bio-based Chemicals market?
- What are the market shares by key segments in the Middle East and Africa Bio-based Chemicals market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end Australia market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support Australia and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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