Market Size of GCC Chemical Logistics Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Chemical Logistics Market Analysis
On an economic level, the contribution of the chemical industry toward the growth of the region has been predominant over the years. The chemical industry in the GCC is consistently scaling new heights in terms of production, portfolio diversification, and job creation, which is demanding the requirement for state-of-the-art logistics. The government's policies and investments and recent M&As for economic diversification that is focused on developing the non-oil sector are major reasons for the growth of the chemical industry over the years.
This is supported by several government initiatives, such as Oman's National Program for Diversification. Saudi Vision 2030 is also playing a role in supporting economic diversification. In the United Arab Emirates, the chemical sector is situated mostly in Abu Dhabi, where the industry is developed in line with Abu Dhabi's Economic Vision 2030, which, in turn, is creating new employment opportunities.
