Middle East and Africa bio-based chemicals market size to reach US$12.2bn by 2030, driven by growing demand for environmentally friendly alternatives

The Middle East and Africa bio-based chemicals market value is estimated at US$6.2bn 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 analysed 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$/€M) 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.

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

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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