Middle East Gulf plastics industry aims for growth through diversification


There's no doubt that the Mideast Gulf Cooperation Council (GCC), which includes the states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, are paying close attention to the development of U.S. shale production.

Years of cheap raw materials helped the region become a major exporter of plastics. But some say the abundant U.S. shale gas development is presenting new challenges to the GCC petrochemical industry.

Dubai-based consulting firm Booz & Co. says the GCC petrochemical industry is faced with three main options: remain upstream and participate in shale gas ventures in North America, move downstream into performance or specialty chemicals, or become consolidators of the industry within the GCC to build greater scale.
Read more