01/07/2015

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MIDDLE EAST: GCC plastic manufacturers post 6% capacity increase in 2014

"The region's plastic manufacturers have shown a consistent level of growth despite market fluctuations and increased competition,” said Dr. Abdulwahab Al Sadoun, secretary general, GPCA. "The region's polymer producers and converters have demonstrated a sense of agility, flexibility and stability in the face of regional and global challenges.” In 2014, the GCC's polymer capacity reached 25.5 million tonnes, a six per cent increase from the previous year, according to the GPCA. The UAE 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 of high value,” added 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. From 11-12 January 2015, the conference will feature top executives from key plastic manufacturers in the region, including Abdulaziz Alhajri, CEO of Borouge, Ziad S. Al Labban, CEO, Sadara Chemical Company, Abdullah bin Saleh Al Suwailem, CEO, PetroRabigh Company, and Mosaed Al Ohali, executive vice-president - Polymers, Sabic among others. PlastiCon 2015 will also dedicate a special session to the effect of crude price decline on the polymer market. Source: Daily "Khaleej Times", Dubai; 1 Jan 2015
(Syed Rashid Ali, Karachi, Pakistan)  

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