GPCA cites new era for growth

The GCC plastics industry is set to grow and diversify over the next five years, according to the latest findings from the Gulf Petrochemicals & Chemicals Association (GPCA), the region’s longest-standing trade association. Over the last five years, the region’s plastic production capacity has almost doubled, rising from 12.7 million tonnes in 2008, to 24.7 million tonnes in 2013. Plastics—also referred to as polymers—currently account for 17% of the GCC’s 144.3 million-tonne petrochemical capacity. “Since the industry began production in the early-1980s, plastics production in the Gulf has developed in a sustained and steady pattern. However, recent investments by the region’s petrochemical players will usher in a period of portfolio diversification, said Dr. Abdulwahab Al-Sadoun, GPCA’s Secretary General. The plastics industry also earns valuable revenues. In 2012, the sale of plastic products resulted in $29.08 billion in revenues, or 35.6% of the region’s total $81.7 billion earnings. Saudi Arabia leads the region’s plastics industry, producing an estimated 18.4 million tonnes, over 74% of the region’s polymer production capacity. www.gpca.ae