The Middle East plastics industry is set to achieve an annual growth rate of around 30 per cent over the next five years, according to industry experts.

The Middle East remains the largest source of plastic raw materials as up to 16 per cent of the region's abundant petroleum supply that is not used for energy production is converted into other materials such as plastic products, said Ahmed Ghozzi, chairman of ACG-ITF, the organiser of  Plastex 2010, the international African-Arabian exhibition for plastic industries.

About 600 exhibitors from 31 countries and over 25,000 visitors from 17 countries are expected to participate in the 12th edition of Plastex to be held at the Cairo International Fair Ground from May 13 to 16.

Citing recent reports, Ghozzi said the plastics sector in the North Africa region had sustained a double-digit growth in 2009.
 
Egypt's consumption of plastic materials and resins has been estimated to be worth nearly $1.6 billion, while demand is expected to grow at 10 per cent annually for the next three years, in line with the increasing number of newly established factories, he added.

The plastic industry has seen sustained growth levels in the region, as Middle East and African markets are expected to deliver “noteworthy gains” from 2009 to 2014, he said, citing an industry report from the American Chemistry Council (ACC).

“Plastex again expects to achieve an increase in exhibitor and visitor footfall compared with the previous edition, which confirms the sustained interest among global and regional companies in emerging prospects in the Middle East and North Africa's plastics industry,' he added.

Several key markets in the region are making significant improvements such as Saudi Arabia, which is home to more than 580 downstream plastics manufacturers that are all eagerly awaiting the latest developments in plastics machinery and technologies.

'Egypt likewise offers excellent growth prospects in the production of end products because of its highly strategic location and the relatively strong technical know-how of its labour base,' Ghozzi said.

Plastex will be held concurrently with Egyplast 3, a sub-event that provides guaranteed opportunities to optimise exports of the Egyptian manufacturers as it gathers decision makers and purchasing managers from regional Arab-African countries directly with Egyptian plastic manufacturers and end-product exporters.

According to Ghozzi, Plastex has been designed to support the robust performance of the Middle East plastics industry.

'In particular, the event will complement the growth in plastics imports and exports in the region as it serves as the Middle East's premier business-to-business networking platform, providing direct access to leading brands and companies in global and regional plastics industries,' he added.-TradeArabia News Service