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FINANCIAL NEWS
GCC plastics industry to grow by 3pct
05 Dec 2016
(MENAFN) The plastics processing industry in the GCC is predicted to increase at 3 percent, while total polymer demand is predicted to be less than 5mn tons by the end of 2016.
Moreover, Saudi Arabia and the UAE account for 83 percent of the plastics processed in the region with a high demand for commodity polymers, which remains low.
More evidence for this stable market is growing incomes and reduced unemployment, which will continue to drive demand for a huge amount of consumer.
Recently, the region is moving onto the next stage of its development program, with a focus on downstream industries and plastics conversion.
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