Middle East & Africa Solid Fuel Market

The Middle East & Africa solid fuel market was valued at US$ 12,718.48 million in 2022 and is projected to reach US$ 11,366.88 million by 2028; it is expected to grow at a CAGR of -1.9% from 2022 to 2028.  

Development and Expansion of Refineries is Driving the Middle East & Africa Solid Fuel Market

In June 2022, the IEA oil market report predicted that net global refining capacity would expand by an extra 1.6 million b/d in 2023. The expansion or new refining capacity growth consists of various high-capacity refinery projects underway, especially in the Middle East and China. The aforesaid region and country have the potential to add over 4.0 million b/d of new capacity in next two years. Substantial refinery capacity was extended in the Middle East in 2021. In Saudi Arabia, Jizan refinery with 400,000 b/d capacity came online by the end of 2021 and commenced exporting petroleum products at the beginning of 2022.

Therefore, the expansion of refineries would increase the use of solid fuels, which is expected to offer lucrative opportunities for the solid fuels market during the forecast period.  

Middle East & Africa Solid Fuel Market Overview  

The region is rich in oil reserves, coal production, and petroleum refineries. It is projected that oil product sales would reach 8–9 million b/d at the end of 2023 since projects for new refineries are open in the UAE, Iraq, Oman, and Saudi Arabia. With respect to coal usage in the energy sector, the largest market for hard coal is APAC, accounting for 54% of global statistics. Moreover, the Middle East is interested in coal energy. China is the largest and business partner for the region with respect to coal usage. Countries such as the UAE, Morocco, and Israel are known for high coal usage.

The three major oil producers in the region are Iraq, Iran, and Saudi Arabia. Oman, Qatar, Kuwait, and the UAE are the next in the regional oil league countries. However, Bahrain and Yemen have a combined output of nearly 1 m barrels/day. In 2021, the region had 13 countries with active refineries and a total refining capacity of 12,145 mbd. The major active refineries are Ras Tanura, Ruwais, Jubail II, Bandar Abbas II, and Mina Abdullah. Moreover, 18 new refineries are predicted to start operations in the region. Al-Zour (Kuwait), Siraf and Bandar Jask (Iran), and Duqm I (Oman) are among the upcoming refineries in the region, which are expected to start by 2026. Commence of new refineries in the region is projected to bring opportunities for solid fuels.

Middle East & Africa 

Solid Fuel

Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Solid Fuel Strategic Insights

Strategic insights for the Middle East & Africa Solid Fuel provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Solid Fuel Report Scope

Middle East & Africa Solid Fuel Regional Insights

The geographic scope of the Middle East & Africa Solid Fuel refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Middle East & Africa Solid Fuel Market Segmentation

The Middle East & Africa solid fuel market is segmented into fuel type, and country.

Based on fuel type, Middle East & Africa solid fuel market is segmented into petcoke/flexicoke, anthracite, metallurgical coke, and coal. The metallurgical coke segment held the largest market share in 2022.    

Based on country, the Middle East & Africa solid fuel market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa segment dominated the market in 2022.

Indian Oil Corp Ltd; Essar Global Fund Ltd; BP Plc; and Lukoil Oil Co are the leading companies operating in the Middle East & Africa solid fuel market.