At 3.6% CAGR, Middle East & Africa Oil Pollution Remediation Materials Market is Projected to be Worth US$ 2,003.13 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa oil pollution remediation materials market was valued at US$ 1,509.28 million in 2022 and is projected to reach US$ 2,003.13 million by 2030, registering a CAGR of 3.6% from 2022 to 2030. Growing emphasis on utilization of efficient and eco-friendly oil pollution remediation solutions and government regulations related to oil spill preparedness and responses are among the critical factors attributed to drive the Middle East & Africa oil pollution remediation materials market growth.

In the past few years, governments of various countries have designed oil spill cleanup regulations to ensure a prompt and effective response to environmental emergencies. These regulations typically outline procedures, technologies, and standards that companies must follow to contain, control, and clean up oil spills. Regulations often stipulate the type of remediation materials that must be employed to minimize environmental impact and ensure effective cleanup. Rising need for effective oil spill cleanup propels the demand for remediation materials. As environmental concerns and regulations intensify, there is a growing emphasis on using advanced and eco-friendly materials for remediation. Certain absorbents, dispersants, and barriers may be mandated to meet safety and efficacy standards, promoting the use of environment-friendly and efficient materials in oil spill response efforts.

Governments and the oil industry have preparedness plans to conduct regular oil spill response. Government mandates to address oil spills promptly and minimization of ecological impact have driven the demand for absorbents, dispersants, and other remediation materials.

In accordance with Federal Law Number 24 of 1999 (the Environmental Law), any oil project in the United Arab Emirates must obtain a license from the Federal Environmental Agency (FEA). In addition, in order to receive the necessary operational permissions from the Dubai Municipality's Marine Environment and Wildlife Section, certain entities (specifically, shipyards, oil refineries, oil exploration and production entities, harbors, ports, marinas, manufacturing plants, and any other operations that regularly involve oil) must create and maintain an Oil Spill Response Plan. There are explicit laws in existence that forbid the purposeful release of any pollutants originating from oil operations (such as drilling, exploring, and testing). Furthermore, a stringent reporting system mandates that anyone involved in the transportation or extraction of oil notify the Ministry of Environment and Water, UAE Coast Guard, Dubai Municipality, Dubai police, and the DP World Control Room as soon as possible in the event of an incident. Article 26 also requires any maritime vessel carrying oil to be adequately equipped to begin combative operations in the event of oil spillage.

On the contrary, fluctuations in raw material prices of physical and chemical remediation hamper the growth of the Middle East & Africa oil pollution remediation materials market.

Based on type, the Middle East & Africa oil pollution remediation materials market is segmented into physical remediation, chemical remediation, thermal remediation, and bioremediation. The physical remediation segment held 38.3% market share in 2022, amassing US$ 578.15 million. It is projected to garner US$ 776.67 million by 2030 to register 3.8% CAGR during 2022-2030. Furthermore, the physical remediation segment is sub segmented into booms, skimmers, and adsorbent materials. Additionally, the chemical remediation segment is bifurcated into dispersants and solidifiers.

Based on country, the Middle East & Africa oil pollution remediation materials market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 36.5% share of Middle East & Africa oil pollution remediation materials market in 2022. It was assessed at US$ 551.11 million in 2022 and is likely to hit US$ 733.66 million by 2030, registering a CAGR of 3.6% during 2022-2030.

Key players operating in the Middle East & Africa oil pollution remediation materials market are Ansell Ltd; Brady Corp; Compania Espanola de Petroleos SA; Cosco Shipping Heavy Industry Co., Ltd; Ecolab Inc; Fender & Spill Response Services LLC; NOV Inc; Procon Environmental Technologies (Pty) Ltd; RX Marine International; TOLSA SA; and Verde Environmental Group Ltd, among others.

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