ME plastics market seen growing at 30pc
Sharjah, October 12, 2011
The plastic industry in the Middle East is projected to grow annually by 30 per cent, said the organisers of an upcoming industry trade show in Sharjah.
The global plastics market is today valued at $180 billion and in the past 30 years alone, international plastics production has grown by more than 500 per cent, said a study conducted by Expo Centre Sharjah, organisers of Plastivision Arabia 2012 and ArabiaMold, which will be held at the centre from May 14 to 17, 2012.
Global plastics consumption is forecast to grow five per cent per annum for the period 2007 through 2015. In actual production terms, this represents an overall global production level of 330 million tonnes by 2015, said the study.
Being a key global player, regional countries are investing heavily in downstream petrochemicals to meet this demand, and annual plastics production of the Gulf States is expected to jump around 46 per cent to 155 million tonnes per annum by 2015, up from 105 million tonnes in 2010.
Recent announcements put this figure at nearly $75 billion, and this is part of an ongoing drive to expand the countries’ industrial base and ease reliance on volatile crude exports.
“During the past decade, the Middle East had been the most happening place for the global plastics industry,” said Saif Mohammed Al Midfa, director-general of Expo Centre Sharjah, at a press conference in Sharjah.
“Now there is one more reason for the global plastics industry to focus on the region – Plastivision Arabia 2012. The show will be a comprehensive platform for raw materials, primary processing and auxiliary equipment and services from all over the world catering to the requirements of the expanding regional industry,” he added.
“In a strategic move, Expo Centre Sharjah has tied up with All India Plastic Manufacturers Association (AIPMA), the organizers of Plastivision India, to organize Plastivision Arabia, and Demat, the organiser of world-renowned EuroMold. We will leverage on the expertise and experience of Plastivision India and EuroMold to present a show that will be a significant event for the regional industry,” Al Midfa noted.
Plastivision India is the world's fifth largest plastics trade show. Being organized once in three years, the eighth edition of Plastivision India held in Mumbai, India, in January 2011 hosted over 1,000 exhibitors from 17 countries. The exhibition was spread across 55,000 sq m of space and attracted 73,000 visitors, generating over US$ 200 million worth business.
“The Middle East is a fast growing market. Through our association with Expo Centre, we will help transfer EuroMold's successful concept to the region and thus enable German and European tool and mold makers to participate in Arabiamold,” said Dr Eberhard Doring, CEO of EuroMold, the world's leading fair for moldmaking and tooling, design and application development.
Plastivision Arabia and ArabiaMold 2012 will cover raw materials and auxiliaries, plastic products and processing, machinery and equipment for the plastics and rubber industries, moldmaking, tooling, design and services for the industry. – TradeArabia News Service