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The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.
The Middle East and Africa Palm Acid Oil market has been witnessing a mixed economic growth over the last few years, with several individual countries facing unique situations to deal with, as far as availability as well as demand and supply of energy and power concerned for this region. The consumption of energy has been on the rise in Middle East and Africa region, on account of increased economic growth, better energy access followed by rapid population growth. There is an increase in energy consumption in the Middle East region which has increased at 1.9 percent per annum. The power sector has observed highest growth recording a growth rate of 2.3 percent per annum, while the industry grew at 2.0 percent per annum and both of these have contributed about 69 percent growth in incremental energy demand. The rapidly growing sector is the non-combusted sector that represents 16 percent of incremental demand. We provide a comprehensive analysis of the scope of the market, including the yearly growth of the Middle East and Africa Palm Acid Oil market by revenues, market segments and gain indicators that are driving the growth of the market. Our report also points out the dominant market trends and opportunities that are available, including market restraints that may impact the growth of the market. The Middle East and Africa Palm Acid Oil market is anticipated to register significant absolute $ opportunity value in 2027 as compared to the value attained in 2019.
The Middle East region continues to be the leading oil producer amounting to 36 percent of global liquids production. The region contributes about 20 percent of global gas production, being the second largest gas producer. The industry and transport sector had witnessed a twenty fold expansion in total consumption in the Middle East. The demand for energy had increased by 2.4 percent in 2018. Oil contributes to almost half of the total energy consumption in the Middle East. Huge reserves of oil as well as natural gas are present in the Middle East region, with nearly all of the energy consumption coming from either petroleum or natural gas in the region. The total primary energy production in the Middle East region has risen from 77.964 quadrillion Btu in the year 2013 to 87.839 quadrillion Btu in the year 2016. The share of the energy production in the Middle East in comparison to global energy production was 15.52 percent in the year 2016 as compared to 14.02 percent in 2013. On the other hand, there is almost negligent contribution from other forms of energy such as coal, nuclear or renewable energy. The Middle East region recorded a primary energy consumption of 33.885 quadrillion Btu in the year 2013 which has increased to 36.46 quadrillion Btu in the year 2016 recording only a slight increase in share of energy consumption by 0.27 percentage points during the period 2013 to 2016.
About 57 percent of the global oil reserves are present in the Middle East and North Africa (MENA) region. The availability of natural resources, although in plenty in the Middle East region is country specific and differs from one country to another in the region. The countries in the Middle East region that are having adequate natural resources are anticipated to witness significant growth, as compared to those countries that are dependent on such natural resources in the region. The per capita energy consumption in the Middle East region is anticipated to reach OECD levels by 2040. The MENA region requires heavy investments in energy that may exceed USD 30 billion a year, which is estimated to be equal to about 3 percent of its estimated Gross Domestic Product (GDP). This is expected to be at least three (3) times higher than the world’s average over the next thirty (30) years. Energy production in Africa had been mainly arising from oil, biofuels and waste and subsequently natural gas and coal. The share of total primary energy supply rose from 3.4 percent in 1971 to 5.8 percent in Africa in 2017.
The share of primary energy consumption in the Middle East region for Oil and Natural Gas was 46 percent and 53 percent respectively in the year 2018. The level of consumption of natural gas has risen from 290 Million Tonnes of Oil Equivalent (Mtoe) to 476 Million Tonnes of Oil Equivalent (Mtoe).
Until 2015, about 80 percent of non-hydro renewable energy growth had been focussed mainly in 4 of the 22 Member States. Only six percent of total installed power generation capacity was from renewables. Subsequently, the Arab region saw an investment of USD 11 billion in renewables, as compared to USD 1.2 billion in the year 2008 according to International Renewable Energy Agency (IRENA) which was a nine time increase in just eight years. Under the influence of Pan-Arab clean energy initiative adopted at the third Arab Economic and Social Development Summit by the League of Arab States in 2013, the leaders had committed to increase the region’s installed renewable power generation capacity to 80 gigawatts (GW) in 2030 from 12 GW in 2013. Subsequently, the recent auctions had created a world record in solar prices worth 17.8 USD/MWh for the Sakaka project in Saudi Arabia, while solar prices in Abu Dhabi and Dubai constituted 24.2 USD/MWh and 29.9 USD/MWh respectively.
Our overall market analysis on the Middle East and Africa Palm Acid Oil market includes recent trends, opportunities coupled with inclusive macro-economic indicators that are leading to the growth of the market. Moreover, our bottom-up and top-down approach to calculate the market numbers along with detailed segmentation and regional average pricing analysis is provided in the report. Additionally, our report highlights correlation and regression analysis, demand and supply risk, followed by strategies to attract potential customers. Furthermore, our report includes Y-o-Y growth rate and absolute $ opportunity value that the Middle East and Africa Palm Acid Oil market is estimated to record in 2027 as compared to this year.
The report highlights regional scenario in market which includes Middle East and Africa region that have been further identified for the Palm Acid Oil market demand and segregated into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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