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'Gulf's plastic producers...to create distinct identity for themselves'

GCC plastics industry shows ‘consistent growth’

DUBAI, December 31, 2014

The plastics industry in the GCC is evolving into a larger, more diverse and sustainable industry opening up channels for more consumers and new revenues, according to a new research by the Gulf Petrochemicals and Chemicals Association (GPCA).

Dr Abdulwahab Al-Sadoun, GPCA secretary general, said: “The region’s plastic manufacturers have shown a consistent level of growth despite market fluctuations and increased competition.

“The region’s polymer producers and converters have demonstrated a sense of agility, flexibility and stability in the face of regional and global challenges.”

The GCC’s plastic capacity this year reached 25.5 million tonnes, a six per cent increase from the previous year, according to the GPCA.

Saudi Arabia leads the region’s plastics production market, manufacturing an estimated 18.3 million tonnes this year, or 72 per cent of the region’s plastic resins production capacity.  

The United Arab Emirates holds the region’s second largest plastic production capacity, representing 13 per cent of the region’s polymer capacity.   

The region’s plastic industry currently includes the production of 13 products. By the end of the decade, the Gulf’s plastic manufacturers will add 16 additional products to their portfolio for applications in the aviation, transport and food packaging sectors.

Similarly, the GPCA forecasts that plastic capacity will reach 33.8 million tonnes by 2020, an estimated 25 per cent increase from current capacity.

“Over the next five years, the Gulf’s plastic producers have the potential to create a distinct identity for themselves, where their products are seen as cost- effective, reliable and high value,” said Dr Al- Sadoun.

“By the end of the decade, we foresee a growing influence of this sector globally, when a ‘Made in the GCC’ label will be the norm, rather than an exception.”

The evolving plastics industry will be a key focus at the sixth edition of PlastiCon, the annual international conference for plastics conversion, which will take place on January 11 and 12, featuring top executives from key plastic manufacturers in the region.

It will also dedicate a special session to the effect of crude prices sharp decline on the polymer market. - TradeArabia News Service




Tags: industry | growth | plastics | GPCA |

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