GCC Specialty Chemicals Market Size, Share, Growth Analysis, By Application(Paint & Coatings, Antioxidants, Biocides, and others), By Type(Specialty Polymers, Textile Chemicals, Dyes & Pigments, Agrochemicals), By Region - Industry Forecast 2024-2031

GCC Specialty Chemicals Market Drivers

Rise of Construction Activities to Bolster Market Growth

• The expanding numbers of development and construction projects across the globe will drive the growth and demand in the GCC Specialty Chemicals Market. Some of the most important elements of a construction process include chemicals used for surface treatment, foaming agents, and coatings. They therefore made up a large piece of this market.

• Development in supply chain management, strategic sourcing, and ecommerce has increased awareness and transparency of the consumers. Most specialty chemicals industries, including automotive coatings, catalytic fluid cracking, pharmaceuticals additives, antioxidants, and water treatment have long been willing to provide services alongside products.

GCC Specialty Chemicals Market Restraints

Health and Environmental Concerns to Hinder Market Growth

• The majority of specialty chemicals are synthetic, which can adversely affect the environment. Due to their toxic nature, environmental protection authorities have placed several restrictions on the use of synthetic chemicals, which can hinder the GCC Specialty Chemicals Market growth throughout the forecast period. For example, the European Union banned uses of some specialty chemicals including atrazine and acetochlor, and in June 2015, glyphosate was banned for use in the garden and lawns by France and Denmark.