A major conference in Dubai next month will highlight the massive growth and the immense potential of Middle East region in the petrochemical sector.

The fifth annual GPCA Forum, taking place from December 7-9 at the InterContinental Festival City, Dubai, will draw top-notch speakers and include high-calibre networking receptions and special events.

Global ethylene capacity is seeing dramatic change with concentration moving from developed countries such the United States and European countries to the Middle East and China. More than 19 million tonnes per annum of ethylene capacity will come on stream in the Middle East by 2015. The region will, as a result, be among the leading producers of a range of petrochemicals and plastics, including ethylene glycol (EG), polyethylene (PE), and polypropylene (PP), said a statement.

The Middle East has overtaken North America as the leading ethylene glycol (EG) producer, accounting for about one-third of the global EG capacity. The region will also become the leading producer of polyethylene (PE) by 2015 when its share of global capacity will rise to about 20 per cent. The region’s share of global polypropylene (PP) capacity will reach 14 per cent in 2015, placing it behind Asia/Pacific, which will have a 23 per cent share, China with 17 per cent, and Western Europe with 14 per cent, the statement said.

Led by Saudi Arabia, and boosted by Qatar, Kuwait, Abu Dhabi and Oman, the region has built massive petrochemicals production facilities that are among the most cost competitive in the world. Thanks to these developments, the Middle East will not only be the main petrochemical production hub in the future, it is expected to become the main arbitrage point for polymers worldwide, supplying up to 40 per cent of incremental Asian demand for polyolefins in the medium term.

Shifting focus away from crisis management to driving innovation for future growth, delegates at the event can look forward to hearing insight and experience from leaders of major global and Middle Eastern companies who will discuss the future of the industry, growth areas, and what companies can invest in innovation centres to enhance their competitiveness in an increasingly competitive marketplace.

Delegates will be addressed by Mohamed H Al-Mady, vice chairman and CEO, Sabic and chairman of GPCA, while Khalid Al-Falih, president and CEO, Saudi Aramco, will also be sharing his  thoughts on how innovative partnerships further globalization.

“It is a tribute to the vital role played by the petrochemical industry in the Middle East that in terms of production it is now par with the US and Europe. I find it extremely gratifying that the GPCA will use its forum effectively to promote the priorities of this sector and give delegates an exceptional opportunity to interact with the industry’s leaders and decision-makers, as well as share the latest marketplace intelligence,” said Dr Abdulwahab Al-Sadoun, secretary general, GPCA.

The surge in remedy cases and protectionist actions in 2009 brought by several countries in Asia, and Europe and its potential impact on regional and global industry will also be on the agenda. The Gulf industry remain committed to free trade and anticipate respect for WTO rules by all countries, added Al-Sadoun. – TradeArabia News Service