GCC set to become the No 1 source of petrochemicals and plastics products in the world
GCC Plastics industry grows @ 20% p.a
The petrochemical industry in the GCC region has become a major investment opportunity for the Gulf states as they set to become the world's largest source of polyethylene and polypropylene. In 2007 ethylene was about 15 million tonnes including Iran. By the end of 2011 itself, it will be 30 million. The polyethylene production capacities in the GCC are expected to increase from 10.7 million tonnes in 2009 to 21.5 million tonnes by the year 2015, according to the latest statistics. The production of polypropylene is also expected to increase from 4.8 million tonnes in 2009 to 9.5 million tonnes by 2015, almost double the volume,
GCC production of polyethylene and polypropylene resins will rise to 31 million tonnes by 2015.
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