Around 1,158 announced petrochemical plants to come online in the next nine years

Around 1,158 planned and announced plants are slated to come online in the next nine years, primarily in Asia and the Middle East. Asia, the Middle East, and North America are the top regions contributing to capacity additions in the next nine years.

Petrochemicals are important for any industry, and 95% of all manufactured goods such as electronics, furniture, appliances, textiles and many more are based on petrochemicals, making it an important economic driver. (Image for illustration only)
Petrochemicals are important for any industry, and 95% of all manufactured goods such as electronics, furniture, appliances, textiles and many more are based on petrochemicals, making it an important economic driver. (Image for illustration only)

The GCC’s petrochemicals, plastics and rubber producers are discussing innovation strategies at ArabPlast 2019, indicating that the advancement, improvement and modernisation of the sector is a top priority.

Over the past few years, the GCC’s petrochemicals, plastic and rubber industry has evolved to new heights, and the sector is only set to experience growth and development with major players of the industry applying innovation as a mandate to stay relevant in the face of rising market competition,” said Satish Khanna, general manager, Al Fajer Information & Services, Dubai, organisers of ArabPlast 2019.

Global Data’s latest report – H2 2018 Global Petrochemical Capacity and Capital Expenditure Outlook – states that the global petrochemicals capacity is poised to see considerable growth over the next nine years, potentially increasing from 1,550.5 million tonnes per annum (mtpa) in 2017 to 2,031.6mtpa in 2026.

While petrochemicals serve as key driver for the economy, plastics and rubber producers are coming up with new ways to create and use these materials that could benefit the industry as well as society, and the environment. A big part of the show also focused on preference for plastic bottles over conventional glass bottles by pharmaceutical manufacturers.

According to Future Market Insights, the outlook for the global pharmaceutical plastic bottles landscape looks promising. Witnessing over 5.5% annual revenue growth over 2018, the global pharmaceutical plastic bottles market is likely to cross the value of $25bn in 2019.

According to the report, pharmaceutical plastic bottles effectively render a cost-saving advantage to each value chain participants, including manufacturers, suppliers, distributors, wholesalers, and end-users – creating a favourable market growth scenario across the value chain. Design innovations such as 3D technology, extrusion blow moulding, and injection blow moulding further allow extended applicability and thereby push the growth of pharmaceutical plastic bottles market.

The GCC’s spending on R&D and innovation has been significant in the past few years, with the industry implementing ambitious training programmes and collaborating with impressive research institutions, signalling that innovation is a top priority for any sector. At ArabPlast 2019, technology and innovation strategies will not only be discussed, but also make its way into the operational framework of several companies,” added Satish Khanna.

While technology and innovation form the basis of the mega event, the show also served as a great platform to help end-users achieve their corporate and performance objectives, whilst offering significant networking opportunities throughout the event where relationships, both old and new, will be nurtured.

ArabPlast 2019, is taking place during 5-8 January at Dubai International Convention and Exhibition Centre. It offers a platform to unveil new products, witness updates of the industry, open communication channels with industry peers, and meet global decision-makers in the plastics, rubber and petrochemical industry. The international forum will offer participating companies a chance to establish their presence in the region, increase their exports and also open conversations with the Gulf countries.

For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.

For all the latest refining and petrochemical news from the Middle East countries, follow us on Twitter and LinkedIn, like us on Facebook.

You may also like

Five minutes with Majed Al Shodari, chairman, Saudi Emerging Technologies Forum
With mentioned missions, diversity, and governance, it is undeniable that Saudi Arabia is today the ultimate land of opportunities
$859bn worth oil, gas and petrochemical projects underway, or planned in the MENA region
Saudi Arabia, Kuwait and UAE lead the way with strategic investments designed to maximise value and open up new revenue streams
ENOC becomes first energy company to win SPLC award for sustainable business practices
The SPLC Summit witnessed over 500 sustainability and procurement leaders from across regions and sectors
Tenth GPCA Fertiliser Convention to take place in Muscat this September
The Convention will be held during 24-26 September at Kempinski Hotel, Muscat, Oman

MOST POPULAR