Middle East Set To Dominate Future of Global Polyolefin’s Industry
Posted: 02 May 2005
The world’s largest polyolefin market is now in Asia, and the Middle East is making massive investments to meet the growing demand in that region, according to Dr. Abdulrahman Al-Ubaid, Vice President of Polyolefins at Saudi Basic Industries Corporation (SABIC).
In his keynote speech to Dubai Plast in Dubai, (Dr. Al-Ubaid underlined the central role that Middle East plays in the satisfying global polyolefins demands. He said, “The evolving global polyolefins market continues to shift demand towards Asia and supply to the Middle East”.
“The production of ethylene - a building block for polyolefins - will almost double in the Middle East between now and 2010. As a result, there will be a dramatic increase in the production of polyolefins by 10 million tons from Gulf Cooperation Council member states.”
“The Middle East is implementing its largest ever investment phase in the petrochemicals industry of approximately $40 billion within the next 5 years.”
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
