This market research report presents a detailed segmentation of the petrochemicals market in MENA by product types (ethylene, methanol, propylene, and aromatics) and by application (polymer, fertilizers, and commodity trade). A comprehensive analysis of the leading vendors such as Sidi Kerir Petrochemicals, IQ, SABIC, NPC, APC, Sipchem, Sahara, Yansab, Kayan, and Petro Rabigh is also included.
Technavio’s market research analysts estimate the petrochemicals market in MENA to grow at a CAGR of around 6% in terms of volume, between 2015 and 2019. The augmented demand for petrochemical products from the automotive industry is the primary driver for the growth of this market. The automotive sector occupies more than 15% consumption of the overall petrochemicals produced globally, while the MENA region accounts for 20% of the total global petrochemicals production. Saudi Arabia, Qatar, UAE, Algeria, and Egypt are the major petrochemicals producing nations in the MENA region.
The new market research report from Technavio provides a breakdown and analysis of the petrochemicals segments by technology.
“The petrochemical market in MENA is estimated to witness sluggish growth, owing to the sharp decline in the volume of petrochemicals being exported from the region. Much of the market’s decline in this region is due to introduction of gas-to-liquids (GTL) technology and the recent shale gas boom in the US, which has resulted in the increased availability of cheap petrochemicals, especially ethylene, to the end-users,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
Ethylene dominates the petrochemicals market in, occupying around 38% of the total market share. The increased use of ethylene for the production of ethylene glycol is driving the growth of this segment. Ethylene glycol is used extensively across the world for the production of polyethylene terephthalate and polyester fibers for use in packaging and fabric industries.
Petrochemicals market in MENA segmentation by product 2019
Source: Technavio Research
The leading vendors in the petrochemicals market in MENA include Sidi Kerir Petrochemicals, IQ, SABIC, NPC, APC, Sipchem, Sahara, Yansab, Kayan, and Petro Rabigh. The market is highly consolidated with the key suppliers and their subsidiaries accounting more than 70% of the market in terms of capacity. The market experienced high levels of capacity additions and is currently facing the issue of overcapacity and supply in various individual product segments.
A more detailed analysis is available in the Technavio report, Petrochemicals Market in MENA 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
