Aug 8, 2018 SOURCE: BusinessWire

MEA Specialty Chemicals Market Size, Share, Development, Growth and Demand Forecast to 2023: A $15.5 Billion Opportunity - ResearchAndMarkets.com

The "MEA Specialty Chemicals Market by Type by Geography - Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.

The MEA specialty chemicals market is projected to reach $15,491.2 million by 2023. The market growth is mainly driven by the growing oil production, increasing usage of agrochemicals, and rising construction activities in the region.

On the basis of type, the lubricant and oil field chemicals category has been holding the largest share in the MEA specialty chemicals market, because of its extensive use in the production of crude oil. The revival in the prices of crude oil and its growing demand from major oil importing countries is attributing to the largest share of the category in the MEA specialty chemicals market.

MEA has some of the largest oil producing countries in the world, namely, Saudi Arabia, Nigeria, and Algeria. These countries are also among the largest exporters of crude oil in the world and would continue to invest in the exploration and development of new oil fields. Owing to this, the demand for specialty chemicals used in oil fields is expected to rise in the region. Also, rising demand for specialty chemicals in the production of automotive lubricants is also expected to boost the MEA specialty chemicals market during the coming years.

Key Highlights

Saudi Arabia seizes the leading position
Advancement in agricultural practices are expected to drive the market growth
Rapid economic growth in developing countries is laying opportunities for the market players

Key Topics Covered

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

Chapter 5. MEA Market Size And Forecast

Chapter 6. Competitive Landscape

Chapter 7. Company Profiles