Middle East & Africa Petrochemicals Market Forecast to 2031 - Regional Analysis - by Type, Application, and End-use Industry

List of Tables

The Middle East & Africa petrochemicals market was valued at US$ 21.15 billion in 2023 and is expected to reach US$ 27.97 billion by 2031; it is estimated to record a CAGR of 3.6% from 2023 to 2031.

Development of Biodegradable Petrochemical-Based Products Bolsters Middle East & Africa Petrochemicals Market

Government regulations and policies are key factors leading to the development and adoption of biodegradable petrochemical-based products. Governments of many countries implement bans or restrictions on single-use plastics, incentivizing businesses to switch to biodegradable alternatives. Policies such as extended producer responsibility and plastic taxes further encourage the transition toward making it economically advantageous to adopt sustainable materials. Rising consumer awareness about environmental issues significantly boosts the demand for biodegradable petroleum-derived products. The modification in the existing petrochemical building blocks can potentially make them susceptible to breakdown in certain environmental conditions. Polybutylene adipate terephthalate and polycaprolactone are a few examples of polymers containing both biodegradable monomers derived from petrochemicals and bio-based constituents. Many scientists are focused on research pertaining to achieving the optimal balance between biodegradability and desired material properties such as durability and strength. Thus, the development of biodegradable petrochemical-based products is expected to be a significant trend for the petrochemical market over the coming years.

Middle East & Africa Petrochemicals Market Overview

In the Middle East & Africa, South Africa, Saudi Arabia, and the UAE are witnessing a massive requirement for petrochemicals due to the growing demand for buildings and facilities from the residential, industrial, and commercial sectors. The demand for new residential projects has augmented due to a migration surge from rural to urban areas. Further, the rising population is boosting the construction of residential areas. For instance, as per the United Nations Report on Urbanization and Migration in Africa, there continues to be considerable growth in the urban population across the region (from ~27% in 1950 to 40% in 2015); it is anticipated to reach 60% by 2050. As more people move to urban areas, there is a parallel surge in construction activities to accommodate the expanding population. Petrochemical-based products are used to provide efficient insulation, sealing, and filling solutions for building and infrastructure projects. Further, the automotive industry has increased vehicle production and sales, which is pivotal in driving demand for petrochemicals in the Middle East & Africa. According to the Organization of the Petroleum Exporting Countries (OPEC), the Middle East & Africa is projected to have 90 million vehicles on the road by 2040, which is up from 59 million in 2018. The expanding automotive industry is projected to surge the demand for lightweight, durable, and versatile materials for various applications within vehicles. Petrochemical-based products are used in components such as seat backs, seat belt components, handles, dashboard components, door liners, pillar trim, and instrument panels.

Middle East & Africa Petrochemicals Market Revenue and Forecast to 2031 (US$ Billion)

Middle East & Africa Petrochemicals Market Segmentation

The Middle East & Africa petrochemicals market is segmented based on type, application, end-use industry, and country. Based on type, the Middle East & Africa petrochemicals market is segmented into ethylene, benzene, propylene, xylene, and others. The ethylene segment held the largest market share in 2023.

In terms of application, the Middle East & Africa petrochemicals market is segmented into polymers, paints and coatings, solvent, rubber, adhesives, surfactants, and others. The polymers segment held the largest market share in 2023.

By end-use industry, the Middle East & Africa petrochemicals market is categorized into packaging, automotive, construction, electrical & electronics, healthcare, agriculture, aerospace & defense, and others. The packaging segment held the largest market share in 2023.

Based on country, the Middle East & Africa petrochemicals market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa petrochemicals market share in 2023.

Shell Plc, LyondellBasell Industries NV, Saudi Basic Industries Corp, BASF SE, Dow Inc, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corp, Mitsubishi Chemical Group Corp, and Exxon Mobil Corp are some of the leading players operating in the Middle East & Africa petrochemicals market.

Product Code: BMIRE00031545

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Middle East & Africa Petrochemicals Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Crude Oil and Feedstock Preparation
- 4.3.2 Petrochemicals Manufacturers
- 4.3.3 Distributors
- 4.3.4 End-Use Industry

5. Middle East & Africa Petrochemicals Market - Key Market Dynamics

5.1 Petrochemicals Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growth in the Packaging Industry
- 5.2.2 Surge in Demand for Polymers across Various End-Use Industries
5.3 Market Restraints
- 5.3.1 Fluctuations in the Crude Oil Prices
5.4 Market Opportunities
- 5.4.1 Growing Investments in Aerospace & Defense Industry
5.5 Future Trends
- 5.5.1 Development of Biodegradable Petrochemical-Based Products
5.6 Impact of Drivers and Restraints:

6. Petrochemicals Market - Middle East & Africa Market Analysis

6.1 Petrochemicals Market Volume (Million Tons), 2021-2031
6.2 Petrochemicals Market Volume Forecast and Analysis (Million Tons)
6.3 Petrochemicals Market Revenue (US$ Billion), 2023-2031
6.4 Petrochemicals Market Forecast and Analysis

7. Middle East & Africa Petrochemicals Market Volume and Revenue Analysis - by Type

7.1 Ethylene
- 7.1.1 Overview
- 7.1.2 Ethylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
- 7.1.3 Ethylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
7.2 Benzene
- 7.2.1 Overview
- 7.2.2 Benzene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
- 7.2.3 Benzene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
7.3 Propylene
- 7.3.1 Overview
- 7.3.2 Propylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
- 7.3.3 Propylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
7.4 Xylene
- 7.4.1 Overview
- 7.4.2 Xylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
- 7.4.3 Xylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
- 7.5.3 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

8. Middle East & Africa Petrochemicals Market Revenue Analysis - by Application

8.1 Polymers
- 8.1.1 Overview
- 8.1.2 Polymers: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.2 Paints and Coatings
- 8.2.1 Overview
- 8.2.2 Paints and Coatings: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.3 Solvent
- 8.3.1 Overview
- 8.3.2 Solvent: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.4 Rubber
- 8.4.1 Overview
- 8.4.2 Rubber: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.5 Adhesives
- 8.5.1 Overview
- 8.5.2 Adhesives: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.6 Surfactants
- 8.6.1 Overview
- 8.6.2 Surfactants: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
8.7 Others
- 8.7.1 Overview
- 8.7.2 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

9. Middle East & Africa Petrochemicals Market Revenue Analysis - by End-use Industry

9.1 Packaging
- 9.1.1 Overview
- 9.1.2 Packaging: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.2 Automotive
- 9.2.1 Overview
- 9.2.2 Automotive: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.3 Construction
- 9.3.1 Overview
- 9.3.2 Construction: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.4 Electrical and Electronics
- 9.4.1 Overview
- 9.4.2 Electrical and Electronics: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.5 Healthcare
- 9.5.1 Overview
- 9.5.2 Healthcare: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.6 Agriculture
- 9.6.1 Overview
- 9.6.2 Agriculture: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.7 Aerospace and Defense
- 9.7.1 Overview
- 9.7.2 Aerospace and Defense: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
9.8 Others
- 9.8.1 Overview
- 9.8.2 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

10. Middle East & Africa Petrochemicals Market - Country Analysis

10.1 Middle East & Africa
- 10.1.1 Middle East & Africa Petrochemicals Market Overview
- 10.1.2 Middle East & Africa Petrochemicals Market Revenue and Forecast and Analysis - by Country
  - 10.1.2.1 Middle East & Africa Petrochemicals Market Volume and Forecast and Analysis - by Country
  - 10.1.2.2 Middle East & Africa Petrochemicals Market Revenue and Forecast and Analysis - by Country
  - 10.1.2.3 South Africa Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
    - 10.1.2.3.1 South Africa Petrochemicals Market Breakdown by Type
    - 10.1.2.3.2 South Africa Petrochemicals Market Breakdown by Application
    - 10.1.2.3.3 South Africa Petrochemicals Market Breakdown by End-use Industry
  - 10.1.2.4 Saudi Arabia Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
    - 10.1.2.4.1 Saudi Arabia Petrochemicals Market Breakdown by Type
    - 10.1.2.4.2 Saudi Arabia Petrochemicals Market Breakdown by Application
    - 10.1.2.4.3 Saudi Arabia Petrochemicals Market Breakdown by End-use Industry
  - 10.1.2.5 United Arab Emirates Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
    - 10.1.2.5.1 United Arab Emirates Petrochemicals Market Breakdown by Type
    - 10.1.2.5.2 United Arab Emirates Petrochemicals Market Breakdown by Application
    - 10.1.2.5.3 United Arab Emirates Petrochemicals Market Breakdown by End-use Industry
  - 10.1.2.6 Rest of Middle East & Africa Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
    - 10.1.2.6.1 Rest of Middle East & Africa Petrochemicals Market Breakdown by Type
    - 10.1.2.6.2 Rest of Middle East & Africa Petrochemicals Market Breakdown by Application
    - 10.1.2.6.3 Rest of Middle East & Africa Petrochemicals Market Breakdown by End-use Industry

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Mergers & Acquisitions

13. Company Profiles

13.1 Shell Plc
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 LyondellBasell Industries NV
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Saudi Basic Industries Corp
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 BASF SE
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Dow Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Chevron Phillips Chemical Company LLC.
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 China Petroleum & Chemical Corp
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Mitsubishi Chemical Group Corp
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Exxon Mobil Corp
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments

14. Appendix

14.1 About The Insight Partners