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FINANCIAL NEWS
GCC petrochemical consumption grows by 10pct
01 Jan 2017
(MENAFN) The petrochemical consumption among the GCC States increased by 10 percent per annum through the last decade, involving the sector’s effect of local industrial and economic development.
Moreover, the plastic production in the Arabian Gulf will grow at 3.2 percent until the end of the decade, as stated a GPCA study released in Jan this year.
In addition, the plastic production capacity has tripled in the last 10 years, hitting 26.2mn ton in 2015, earning USD32bn in profits.
Accordingly, the petrochemical and chemical industry in the GCC has reached a production capacity of 144.6mn ton in 2015, more than double its levels in 2005.
M
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