Gulf states control 11% of the $600bn global petrochemical industry
- United Arab Emirates: Wednesday, October 17 - 2012 at 15:26
- PRESS RELEASE
The Gulf petrochemicals industry continues to be the world's largest producer and exporter, offloading the majority of its output to more than 150 countries worldwide.
The Gulf States account for 11% of the $600bn global petrochemical industry. Over the next five years, the Gulf's market share of the global petrochemical industry will jump to over 17%, according to an industrial study.
Satish Khanna, General Manager, Al Fajer Information and Services, Co-organiser of the show along German exhibition organiser Messe Dusseldorf, said, "The GCC is truly the center of gravity for the Gulf petrochemical industry, with huge local and external investments and global major players partnering with local companies projecting to increase the share of GCC region in the production of petrochemicals."
Rising demand from Asia and increasing European appetite for Middle Eastern products are also helping absorb the surge in production of plastics and petrochemicals by fast-expanding GCC manufacturers.
"The petrochemical industry is a major contributor to the GCC economies. The Gulf is the leading export hub of plastics raw material to the world, thanks to companies from the UAE, Qatar, Oman, Kuwait and KSA. Leading petrochemical companies in the Gulf do not depend on the Middle East market because they export to more than 150 countries worldwide."
Khanna said that petrochemical industry in the GCC began to evolve with the establishment of QAPCO in 1980. KSA incepted SABIC Methanol in 1983, Bahrain launched GPIC Methanol in 1985 and it got fueled with Borouge Petrochemicals in 2002 and Oman Methanol Sohar in 2005.
Khanna added that companies are aggressively competing to showcase their latest technology in plastic manufacturing at the exhibition. This is expected to give further boost to the demand for industrial machinery.
Major sponsors for Arabplast 2013 include QAPCO, BOROUGE, NATPET, PETRORABIGH and TASNEE.
Arabplast 2013 will be 34% bigger than the 2011edition, following record number of exhibitors and sponsors.
Khanna added: "The growth of this show reflects the high global demand for plastics and its raw materials and of course the machines. ArabPlast has defied recession, with the 2009 edition ending on a very successful note, and the 2011 show registering a dramatic increase in the number of exhibitors, sponsors and display space. The Gulf is the export hub of plastics raw material plastics to the world, thanks to companies from the UAE, Qatar and KSA which are making this industry a key player in GCC economies".
A record number of companies from 47 countries are participating in ArabPlast 2013, a reflection on the growing importance attached by GCC countries to strengthening their manufacturing industries, including plastics and rubber sector, which are known to be more sustainable investments in the long run.
On display at ArabPlast 2013 will be new products and technologies in injection moulding, blow molding, wrapping and packaging, pre and post plastic processing techniques as well as raw materials, such as masterbatches, additives and polymers. The show covers a wide spectrum of plastic machinery, plastic/rubber processing technology, pre and post-processing systems, plastic packaging technology, injection moulding, blow moulding, wrapping technology, extrusions, chemicals and additives, semi finished goods, engineering plastics and plastic products.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.