At 4.8% CAGR, the Middle East & Africa Basic Aromatics Market is Projected to be Worth US$ 18,845.73 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa basic aromatics market was valued at US$ 12,908.69 in 2023 and is expected to reach US$ 18,845.73 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Growth of pharmaceuticals and personal care industry and advancement in recovery processes of basic aromatics are among the critical factors attributed to the Middle East & Africa basic aromatics market expansion.

The Pharmaceuticals and Personal Care industries represent a growing opportunity for the basic aromatics market due to their increasing demand for aromatic compounds in a variety of applications. In pharmaceuticals, basic aromatics like benzene, toluene, and xylene are key building blocks for synthesizing active pharmaceutical ingredients (APIs) used in essential drugs, including pain relievers, anti-cancer medications, and antibiotics. As the global pharmaceutical market expands—especially in emerging economies with improving healthcare infrastructure—demand for aromatic-based chemicals continues to grow.

In the personal care sector, aromatics are widely used in the formulation of products such as fragrances, moisturizers, shampoos, and cosmetics. For example, certain aromatic compounds provide characteristic scents or serve as solvents and stabilizers in cosmetics and skincare formulations. As consumer demand for higher-quality and diverse personal care products increases, especially for eco-friendly or natural alternatives, basic aromatics can play a key role in meeting these needs.

With rising awareness of health, wellness, and sustainability, both industries are relying more on aromatic chemicals to produce effective, high-quality products. This trend offers a substantial market opportunity for companies to innovate and supply essential aromatic chemicals to these fast-growing sectors

On the contrary, fluctuation in raw material prices hampers the growth of Middle East & Africa basic aromatics market.

Based on type, the Middle East & Africa basic aromatics market is segmented into styrene monomer, divinylbenzene, benzene, toluene, xylene, cresol, and pyridine. The xylene segment held 31.2% share of the Middle East & Africa basic aromatics market in 2023, amassing US$ 4,022.14 million. It is projected to garner US$ 6,174.24 million by 2031 to expand at 5.5% CAGR during 2023–2031.

By end user, the Middle East & Africa basic aromatics market is segmented into pharmaceuticals, pesticides, agriculture, food and beverages, cosmetics and personal care, paints and coatings, and solvents. The paints and coatings segment held 28.0% share of the Middle East & Africa basic aromatics market in 2023, amassing US$ 3,614.47 million. It is projected to garner US$ 5,511.63 million by 2031 to expand at 5.4% CAGR during 2023–2031.

Based on country, the Middle East & Africa basic aromatics market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held 38.0% share of Middle East & Africa basic aromatics market in 2023, amassing US$ 4,899.28 million. It is projected to garner US$ 6,902.63 million by 2031 to expand at 4.4% CAGR during 2023–2031.

Key players operating in the Middle East & Africa basic aromatics market are BASF SE, Exxon Mobil Corp, Jubilant Ingrevia Limited, Lanxess AG, LyondellBasell Industries NV, Nippon Steel Corp, Sasol Ltd, Shell Plc, and The Dow Chemical Co, among others.

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