This series of reports provides information on the market size and supply structure of industrial gases in the Middle East. Currently our information on this region uses 2014 as a base year.
Made up of 13 countries, the Middle East contains a varied and diverse set of gas markets in a dynamic part of the world. We report on many notable developments of recent years, and comment on future prospects going forward. There are a great number of projects in the pipeline that will continue to offer lucrative opportunities to investors interested in this region.
Despite various examples of political upheaval in the region and economic headwinds across the globe, the future remains bright for the Middle East and North Africa (MENA) industrial gases market.
Kuwait is an important market in that it is in domestic terms reasonably sized, but its low cost production base has led to it being an important exporter of air gases to neighbouring countries.
Bahrain is a relatively small gases market and until 2010 was only serviced by two main domestic players. Recent investment is expanding operations however and other industrial gas sources are set to fuel future growth.
The UAE has significantly changed from its former trading hub status in the 1980/90s to become the second largest market in the region. This is the most competitive market and its location and opportunities have led to four major international gas companies establishing a presence.
Yemen is a small market and has been affected in recent years by a wave of political turmoil. Despite this, the country’s industrial gas market is on the rise and new investment is planned for the coming years.
Historically a small market, recent investment in vast GTL projects and increased involvement from the major industrial gas companies has significantly expanded Qatar’s market. The strong growth in recent years has been driven by the opening of a new ASU and helium plant.
Iran’s marketplace is very fragmented and consists of many small privately owned gas companies operating in the major towns and cities.
The constant backdrop of war, insurgency, political instability and corruption has stymied any significant progress occurring in Iraq’s industrial gases market. That being said, with the need to rebuild and the country’s situation improving, a market for industrial gases is beginning to emerge.
Turkey’s relatively high level of industrial activity translates into a substantial industrial gases business and this has posted further gains in 2014. Growth has been strong in 2014 and several new installations are also set to begin operating in the comiong years.
The economy in Oman is predominantly related to oil and natural gas and hence refining, petrochemical and fertiliser industries tend to dominate.