The Middle East, with its vast hydrocarbon and mineral resources, is one of the largest players in this large market in Asia
Marketing in Middle East Chemicals Market
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The Middle East, with its vast hydrocarbon and mineral resources, is one of the largest players in this large market in Asia and even the world. Depending on the type and volume of the requested material, the purchase of Chemicals in the world can be done in different ways, such as a direct purchase from the manufacturer, purchase from reputable importers and sellers active in this field, purchase from the commodity exchange, etc.
Reports from these institutions show that the market value of this market in 2014 with the unprecedented growth of nearly 5.5 trillion dollars was recorded. In 2019, due to strict regulations on the effects of chemicals on human health and restrictions, the production of some harmful chemicals in this market decreased to $ 3.94 trillion, but it is predicted that by the end of 2024, with the increase in trading volume, we will see a growth of 1.8 percent in this market again.
The volume of the global chemical market will grow significantly with an approximate increase in sales in the next two decades, according to experts, the best time to enter the market of buying and selling chemicals and its production and export. The production, sale, and purchase of chemicals is a safe and efficient method with a definite profit.
That is why many companies around the world work in this field. Business activity in this field can be exclusive or public. For example, some companies operate only in the field of industrial materials, but larger companies have a wider and more diverse field of activity. Importing and exporting these materials is an active and profitable trade with a bright future because the whole world is witnessing the widespread use of these materials in various fields.
It can be said that all industries depend on chemical compounds to operate, and their supply is a basic necessity for any country. According to statistics, most of the materials imported to the Middle East in recent years have been from India, China, Turkey, and Germany, with the largest share belonging to China, followed by India, Germany, and Turkey, respectively. Imports and exports from these countries include laboratory chemicals, pharmaceutical grade, agricultural chemicals, and many more.
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