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GCC petchem consumption up 10pc in 10 years

DUBAI, December 31, 2016

The petrochemical consumption across the GCC region increased by 10 per cent per annum during the last decade, indicating the sector’s strong multiplier effect on regional industrial and economic development, said a report released ahead of a major industry event.

ArabPlast, the biggest plastics, petrochemicals and rubber industry exhibition in the Middle East and North Africa (Mena) region, will run from January 8 to 10 at Dubai World Trade Centre.

The plastic production in the Arabian Gulf will grow at a steady 3.2 per cent until the end of the decade, according to a GPCA study released in January this year.

The plastic production capacity has tripled in the last 10 years, reaching 26.2 million ton in 2015, earning $32 billion in revenues.

The GCC chemical industry is a major employer in the region with a workforce of close to 143,000 people, it stated.

According to the latest report by the Gulf Petrochemical and Chemical Association (GPCA) titled “Facts and Figures” released during the GPCA forum in November, the petrochemical and chemical industry in the GCC had reached a production capacity of 144.6 million ton in 2015, more than double its levels in 2005.

"The challenge is getting each time more amplitude and producing larger echoes. We provide a platform for the main players in this industry to showcase their products and to exchange expertise and best knowledge," remarked Satish Khanna, the general manager, Al Fajer Information and Services, the event organisers.

The upcoming ArabPlast promises an international participation accentuated by the presence of the giant operators in the plastics, petrochemicals and rubber industry.

It is set to bring together the key players, experts and industrials in the field from around the world. The previous edition had seen the attendance of 906 exhibitors from 41 countries and 27,268 visitors from 119 countries.

For the 2017 edition, companies from India, Taiwan and Germany has confirmed their participation with a total number reaching respectively 110, 95, and 70, revealed Khanna.

"We expect for instance a remarkable contribution of the German companies in the machineries of plastics production category. China that is the key export market for Gulf petrochemicals products will be represented by 175 exhibitors," he added.-TradeArabia News Service




Tags: petrochemical | GCC | consumption | economic development |

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