FINANCIAL NEWS

Qatar’s plastic industry increases to 8 percent

06 Jan 2016

(MENAFN) Growths in Qatar’s plastic industry last year grew the country’s local market share and it currently holds 8 percent of the GCC’s plastic portfolio.

Accordingly, plastic production in the Gulf area will increase at 3.2 percent until the end of the decade, urged by a sustained roll-out of planned projects.

In addition, the region’s plastic production capability tripled in the last 10 years, reaching 26.2mn tons last year, earning USD 32bn in incomes.

“No matter the country or economic cycle, the growth of plastic production in the GCC is a unique success story in the Arabian Gulf’s continuing journey towards economic diversification,” said GPCA secretary general.

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