13 May 2009
DUBAI - Middle Eastern plastics converters are looking to grow their businesses internationally thanks to strong demand in the domestic markets, according to a new sector report from Applied Market Information (AMI).
AMI points to several recent moves in this area, such as 3P's investment in stretch films and Taghleef Industries' acquisition of Radici's PP film business in 2008. Similar deals are likely to occur in the future, says the market analyst.
According to the report, the region is due to bring on line 15m tons of new poloymerization capacity over the next three years.
In recent years, most countries within the Gulf Co-Operating Council (GCC) have used profits from high oil prices to pay down government debt. They are now looking to invest in social and economic development, which will in turn benefit the plastics industry throughout the region.
Packaging accounts for 53 percent of plastics used by countries within the Gulf Co-Operating Council (GCC) - Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates (UAE) and Oman. The largest producers of packaging in the area are Napco, Gulf Packaging and Intergulf.
DUBAI - Middle Eastern plastics converters are looking to grow their businesses internationally thanks to strong demand in the domestic markets, according to a new sector report from Applied Market Information (AMI).
AMI points to several recent moves in this area, such as 3P's investment in stretch films and Taghleef Industries' acquisition of Radici's PP film business in 2008. Similar deals are likely to occur in the future, says the market analyst.
According to the report, the region is due to bring on line 15m tons of new poloymerization capacity over the next three years.
In recent years, most countries within the Gulf Co-Operating Council (GCC) have used profits from high oil prices to pay down government debt. They are now looking to invest in social and economic development, which will in turn benefit the plastics industry throughout the region.
Packaging accounts for 53 percent of plastics used by countries within the Gulf Co-Operating Council (GCC) - Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates (UAE) and Oman. The largest producers of packaging in the area are Napco, Gulf Packaging and Intergulf.
© The Saudi Gazette 2009
