China targets Mid East's USD33bn chemicals market with Chemtex & Corrosion pavilion

The region's only international exhibition for the chemical, petrochemical, chemical process technology, corrosion control and management industries opens tomorrow (Tuesday) at the Dubai International Exhibition Centre (DIEC).

Organisers International Expo-Consults (IEC) say the Chinese pavilion, occupying 200 square meters, reflects growing Far East interest in the region's chemical and corrosion control markets.

"With its low labour and production costs, China is a sleeping giant in the international petrochemical and chemical industry," said Mohammed Falaknaz, Vice President, IEC. "But it is beginning to awaken and focus on lucrative overseas markets, such as the Middle East.

"Industry sources suggest this year and next will see strong regional growth, with the peak in the petrochemical cycle arriving in 2005/6, fuelling already robust demand for technology and suppliers in both the chemicals and anti-corrosion sectors.

"With a visitor footprint taking in the entire Middle East and North Africa, as well as the Sub-continent and CIS, Chemtex and Corrosion will open the door to markets where demand for machinery, equipment and raw materials continues to soar," said Falaknaz.

In addition to China, Chemtex and Corrosion Middle East 2004 has participants from 15 other countries spanning the United States, Europe, Middle East, Subcontinent and Far East. These countries are Belgium, Egypt, Germany, India, Iran, Italy Kuwait, Malaysia, Morocco, Sweden, Switzerland, UAE, U.K and US.

The exhibition, which will run until Thursday at the DIEC, will have a renewed focus on chemical process technology, an initiative taken by IEC in response to strong industry demand from the expanding chemicals sector.

"Saudi Arabia alone plans to increase its petrochemicals capacity to 48 million metric tons by 2010 and Iran has set a production goal of 30 million metric tons by 2005," said Mohammed Falaknaz, Vice President, IEC.

"Meanwhile, the UAE, Egypt, Kuwait Oman and Qatar have either completed major petrochemical projects or are planning them.

"The region's unparalleled production cost advantage, due to low feedstock prices, and the willingness of regional governments to invest in the latest downstream chemical process technology and free up foreign investment controls, have further stimulated growth, creating a profitable market for the industry's international players," added Falaknaz.

Chemtex and Corrosion Middle East 2004 will be open daily from 10am until 1pm and from 4.30pm until 8.30pm. The trade only exhibition is officially supported by the Government of Dubai's Department of Economic Development, the Department of Tourism and Commerce Marketing and the Dubai Chamber of Commerce and Industry.