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FINANCIAL NEWS
GCC plastic demand to go up by 8% by 2020
07 Jan 2013
(MENAFN) According to the organizers of Arabplast 2013, plastics consumption in the Gulf Cooperation Council (GCC) states is set to rise by 8 percent by the end of the decade, reported Gulf News.
Arabplast, which is in its 11th year, will display machinery for plastic production and packaging, among others.
According to the Gulf Petrochemicals and Chemicals Association (GPCA), the GCC region is the largest source of polyethylene (PE) and polypropylene (PP) in the world, both used in making plastics.
GPCA’s figures show that the combined output of PE and PP in the GCC is expected to reach 31 million tons by 2015.
Experts said that the UAE’s plastic industry is witnessing an expansion in the manufacturing of plastic food packages, pipes, cables and wires.
Global Communications of Borouge Vice President, Craig Halgreen, said that the country’s enormous drive to establish one of the world’s most advanced infrastructures has boosted demand for plastics products from tubes to cables and wires.
Halgreen added that the automotive industry takes advantage from the use of plastic tubes as the material makes cars lighter; furthermore, hospitals are using plastic syringes instead of those made of glass.
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