Posted by Bob Brunskill
The Middle East will become one of the world's leading producers of a range of petrochemicals and plastics as more than 19 million tonnes per annum of ethylene capacity comes on stream in the region by 2015.
That is according to the Gulf Petrochemicals and Chemicals Association (GPCA) which also notes that the Middle East has overtaken North America as the leading ethylene glycol (EG) producer, accounting for about one-third of global EG capacity.
In addition, the body stated that the region will become the leading producer of polyethylene (PE) by 2015 when its share of global capacity will rise to about 20 per cent.
"Thanks to these developments, the Middle East will not only be the main petrochemical production hub in the future, it is expected to become the main arbitrage point for polymers worldwide, supplying up to 40 per cent of incremental Asian demand for polyolefins in the medium term," said the GPCA.
The forecasts come ahead of the Fifth Annual GPCA Forum, which takes place between December 7th-9th at the Intercontinental Festival City, Dubai.