Mideast growth catalyst in global plastics trade
Riyadh, September 3, 2009
The Middle East has emerged as a key growth catalyst in the global plastics trade as the region's plastics industry is expected to achieve an annual growth rate of up to 30 per cent over the next five years.
Saudi Arabia, in particular, has helped fuel the regional plastics industry's exceptional growth with large-scale investments that have made the country the Middle East's largest producer by volume of polyethylene, a vital component in the production of consumer plastic products.
Riyadh Exhibitions Company, organiser of Saudi Plas 2009 - the ninth International Plastics Technology Show, noted that while international demand continues to increase, Saudi Arabia's domestic requirements are likewise sustaining the remarkable growth of the plastics industry.
Recent surveys have revealed that Saudi Arabia possesses the highest per capita consumption of plastics in the Middle East at 40kg per person, which is twice as much as any other country in the GCC.
Saudi Plas 2009, which will be held from October 18 to 21 at the new Riyadh International Exhibition Centre, will provide a business-to-business networking platform for key decision makers, industrialists, developers and other industry stakeholders.
The event will be held concurrently with Saudi Petrochem 2009 - the fourth International Exhibition for Chemicals and Chemical Technology Industry and Saudi Pack 2009 - the ninth International Packing Machinery and Materials Show and Saudi Print 2009 - the ninth International Pre-press and Printing Technology Exhibition.
Collectively branded as Saudi PPPP 2009, the concurrent events seek to leverage Saudi Arabia's status as the Middle East's fastest-growing market for the petrochemical, printing, packaging and plastic industries.
'Saudi Arabia has all the elements to be a major player in the global trade of plastics,' said Saudi PPPP project manager Kamil Al Jawhari.
'The abundance of cheap raw materials, its proximity to European and Asian export markets and high availability of low-cost energy are some of the key factors that have sustained the dramatic growth of Saudi Arabia's plastics industry.
'In addition, massive residential and commercial developments that are currently being built across the country will urgently require the latest in plastic products and technology.'
'This is certainly a very exciting time to invest and look for gainful business opportunities in Saudi Arabia and the rest of the Middle East region,' he added.
'Saudi Plas 2009 will thus play a crucial role in providing a centralised platform for international suppliers, buyers, manufacturers and other stakeholders of the global plastics industry to discuss and identify new avenues for growth and to address emerging challenges.'
Over 390 international companies, including 170 new participating firms, have already confirmed participation in Saudi PPPP 2009.-TradeArabia News Service