Arabian Gulf region will become the world’s largest producer and exporter of petrochemicals and plastics by the next few years according to industry experts.
Annual export of petrochemical products from Arabian Gulf Countries crosses 30 million metric tone mark.
The region plays a key role in the global plastics industry, supplying almost 80% of all crude oil worldwide. The plastics sector is developing rapidly with the constant increase in the number of plastic and rubber companies in the region.
The demand generated from the booming construction and engineering projects is expected to trigger an estimated annual growth of over 30 % in the UAE plastic and rubber industry. |