GCC chemicals industry output hit $108bn in 2015
4 January 2017
The chemicals industry in the GCC is the region’s second largest within the manufacturing sector, creating over 500,000 direct and indirect jobs and $108 billion worth of products in 2015, said organisers of the upcoming 13th ArabPlast 2017.
These figures were highlighted at a press conference held in Sofitel Dubai Downtown, UAE, today (January 3) to raise the curtain on ArabPlast 2017, the region’s leading trade show for the plastics industry that will kick off on January 8 and will conclude on January 10, in Dubai International Convention and Exhibition Centre.
Organisers of the event added that the UAE and Saudi Arabia had 13.7 million tonnes/year and 98.5m tonnes/year of petrochemical capacity respectively in 2016, according to the Gulf Petrochemicals and Chemicals Association (GPCA), and combined, hold 74 per cent of the chemicals portfolio of the Arabian Gulf.
This edition of the show is supported by Borouge, a leading provider of innovative, value creating plastics solutions (Principal Sponsor) and Tasnee (Platinum Sponsor).
ArabPlast is among the top rated specialised shows of machinery worldwide and No. 1 trade show in the Middle East in the volume of machinery on display.
The press conference was addressed by Satish Khanna, general manager, Al Fajer (ArabPlast organiser); Hazeem Sultan Al Suwaidi, senior vice president regional Middle East Africa and Exports at Borouge; and Hassan Al Ahmadi, vice president - BU chemicals and polymers, Tasnee.
Khanna explained: “It is a great pleasure to announce the 2017 edition of the biennial ArabPlast exhibition along with our partners.”
“Borouge has been a prime supporter of the event over the years and continues to play an instrumental role in the growth and development of this regional tradeshow. The event will take place over an exhibiting area of more than nine halls,” he added.
Al Suwaidi said: “Our company is committed to continue supporting this strategic event which underscores the UAE’s growing role and importance in the regional and global petrochemicals and plastics industry.”
“This is in line with Abu Dhabi’s Economic Vision 2030 which identified downstream businesses as major contributors to the economy,” he said.
ArabPlast is the Middle East and North Africa’s (Mena) premier show and one of the biggest three global events dedicated to plastics, petrochemicals and rubber industries. It brings together exhibitors, experts and industrials from the GCC region and all over the world.
Being one of the biggest industrial companies locally and regionally, Tasnee is sponsoring ArabPlast 2017 at a time it has added to its portfolio of products a new set including acrylic acid compound such as butyl Acrylate, butanol and polymers, thus enhancing the company's capabilities and increasing its global competitiveness.
This comes within Tasnee’s quest to diversify the production base of the national economy in the Kingdom of Saudi Arabia, being one of the biggest local companies aiming to achieve the kingdom’s 2030 vision to transform Saudi Arabia to an industrial giant in the world.
Exhibitors will display the latest technology solutions related to extrusion, injection, molding, chemicals and others, along with their industrial applications in packaging, construction, medical and agriculture fields, automobile sector among others.
The European plastics market reached a volume of more than 53 million tonnes in 2014, and sales are expected to rise at average growth rates of 2.9 per cent p.a. to about €104 billion ($108 billion) in 2022, according to the market research company Ceresana.
“Investments in plastics and petrochemical sector are indeed defying the current global market conditions. The Gulf petrochemicals industry continues to be the world's largest producer and exporter to more than 150 countries worldwide,” Khanna added.
“The event will allow bringing the required improvements and awaited efficient responses to the regional industrials needs in term of technology and knowledge,” he concluded.