Mar 22 2010 |
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Global Demand for Epoxy to Reach 1,655 Thousand Tons in 2010 and 1,810 Thousand Tons in 2014
A recent study conducted by NAMA Chemicals (listed in SFM), indicated that the Global Demand for Epoxy will arrive to 1,655 Thousand Tons in 2010, increasing to 1,810 Thousand Tons by the year 2014, indicating that most of this demand will come from Asia and Australia, reaching 900 Thousand Tons in 2010, and 1 Million Tons in 2014.According to the study, the European market ranks second worldwide in terms of Epoxy materials demand, reaching 400 Thousand Tons during the current year, and is expected to increase to 420 Thousand Tons in 2014, while the demand volume in North and South American countries will reach 280 Thousand Tons in 2010, rising to 300 Thousand Tons in 2014.
As for Saudi Arabia and other Middle Eastern countries, the study showed that demand volume will reach to 55 Thousand Tons in 2010, and is expected to increase to 65 Thousand Tons in 2014. African countries on the other hand have the least demand of Epoxy materials, reaching to 20 Thousand Tons in the current year, and expected to increase to 25 Thousand Tons by 2014.
Mr. Abdolmohsen Al Ogaili, CEO of NAMA Chemicals , explained that the Epoxy prices dropped more than 40% during the 4th quarter 2008 continuing its weak growth during 2009, due to the global crisis, which affected the final consumers of the Epoxy, such as the auto and Construction industries. Even though, he expressed optimism about the Global market recovery, which the study confirms, he explained: "we are seeing a substantial upward price movement during the first quarter of 2010 and strong demand".
NAMA
through its Subsidiary "
Al Jubail Chemical Industries" (JANA)
located in Al Jubail, Saudi Arabia is currently doubling its Epoxy capacity to 120 thousand ton to be on line beginning of 2012 at a total cost of SR 436 Million.
NAMA
as the only major producer of Epoxy in the middle east has continually increased its production capacity during the last 5 years from 20,000 MT to 60,000 MT.
"By 2012, the production capacity of our plant will increase by 100%, to be in the list of top five major producers of Epoxy in the world. This will positively reflect on the financial performance of the company in general."
Al Ogaili pointed out that "
NAMA Chemicals
" is seeking, through this project, to enhance its ability and that of its subsidiaries to serve our customers in global markets as well as the company's share of Middle East markets. This new expansion will contribute in improving the company's performance. Noting that today the company exports its products to more than 52 countries".
JANA is currently selling its products to the regional and Global markets through direct marketing and its distributors around the world. It also has direct agreements with a number of major industrial consumers to supply their Global needs of the Epoxy material.
-Ends-
About the Study
This study was conducted by a team of experts from
NAMA Chemicals
in cooperation with a specialized international company. It aims to assist in strategic decision-making associated with production expansion and improve financial performance.
About the company's activity
The company's activity depends on investment, ownership, establishment and operation of industrial projects in the field of chemical and petrochemical industries, including the project "Jana", which produces epoxy material with a capacity of 60 thousand tons annually, in addition to the "soda" project, which produces 50 thousand tons of granulated caustic soda, in addition to producing various other chemicals, including Epichlorohydrin, caustic soda, chlorine and calcium chloride.
About the company history
The company was founded in 1992, and has established two industrial projects in Jubail industrial city; "Jana" and "Soda", for the production of epoxy, caustic soda and Epichlorohydrin as well as various other products. Both are owned 100% by "Nama" chemicals. Also the company invested in other petrochemical projects such as "Ibn Rushud" and " Ynsab" subsidiaries of SABIC.
For more information please contact:
NAMA Chemicals
:
Hamad Al Mari - Public Relations Manager
Tel: +966 50 5813156
Email: info@nama.com.sa
Tarteeb Media:
Nada Abdulhadi
Strategic Communication Manager
Tel: +971 4 4347198
Email: nada@tarteeb.com
© Press Release 2010
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