DUBAI: With the downstream plastics industry assuming a focal point in the economic strategy of the Gulf, the first ever Gulf Petrochemicals and Chemicals Association Plastics Summit got underway at the Grand Hyatt in Dubai this morning with almost 300 delegates from all over the region and beyond.
While welcoming guests and panelists, Lyn Tattum, the Group vice president and publisher of Chemical Week, underlined the increasing role of plastics in the global sphere and the region's strides in the sector.
Moayyed Al-Qurtas, vice chairman and CEO of TASNEE and chairman of the GPCA Plastics Committee, underlined that we are living in an age of plastics while welcoming guests. Highlighting the increasing role of plastics, Al-Qurtas emphasized that (despite the adverse propaganda) plastics have contributed immensely in improving day-to-day lifestyles. Today even artificial knee and joints are made up of plastics. Airplanes are largely made up of one or the other plastics. Goods manufactured from plastics are less in weight and less energy, as compared to its substitutes, is required in producing them.
Eminent futurist Ray Hammond was the keynote speaker at the summit. Looking at his crystal ball, Hammond said that while the world is returning to growth this growth needs to be sustainable. He, however, emphasized the world would move away from the consumption growth model to renewal -- not necessarily the recycling mode. He also rejected the idea that the planet is unable to sustain more population, underlining that with innovations, the world could support nine to 10 or even 12 billion people. However, his emphasis was on symmetric, all encompassing growth that does not leave out sections of global population so as to ensure that everyone benefits from the growth. That is imperative for a peaceful, growth oriented tomorrow.
Hammond mentioned that in the new scheme of things there are to be seven key drivers of the growth. The world needs to get used to people moving from populous regions to less populous and more affluent areas of the world. Then we need to control the climate chaos that has been aggravated by the action -- or lack of action -- of the mankind.
He hinted at the emerging energy crisis plaguing the world, emphasizing that the world needs to move away from fossil fuel to alternatives, and that fossil fuel could be used for economic growth by using it more as petrochemicals feedstock and plastic precursor.
Rather than criticizing globalization, the futurist in Hammond emphasized that ethical and sustainable globalization is the need of the hour and that the current globalization model needs to change dramatically.
Plastics are to be a key driver and in the health sector also as no operation theater can work without plastics. Our genome would be in our pockets, on plastic sticks, within a decade.
The exponential growth in technology is to be another key driver of growth, he added.
In his presentation, Khaled Al-Mana, the executive vice president of polymers at SABIC (Saudi Basic Industries Corp.), underlined the opportunities available to the downstream plastic sector in the region. Current SABIC sales in the GCC are roughly $2 billion per annum. He argued the downstream plastic converting sector is crucial to the industrial growth of the region. However, with 1,100 small companies, the sector is too fragmented to pursue a real growth strategy. With almost $3 billion imports in to the region, even import substitutions could play a significant role in giving a real fillip to the regional converting industry, Al-Mana underlined.
The summit concludes on Wednesday.
By SYED RASHID HUSAIN
© Arab News 2010
