Annual petrochemicals production of the Gulf states is expected to jump around 46 per cent to 155 million tonnes per annum by 2015, up from 105 million now, according to a latest report by the Gulf Petrochemicals and Chemicals Association (GPCA).
Gulf News
April 5, 2011
Wednesday, Apr 06, 2011
Gulf News
Dubai: Annual petrochemicals production of the Gulf states is expected to jump around 46 per cent to 155 million tonnes per annum by 2015, up from 105 million now, according to a latest report by the Gulf Petrochemicals and Chemicals Association (GPCA).
The region's current production represents about 16 per cent of the total 700 million tonnes worldwide petrochemicals output. By 2015, the Gulf states will contribute a fifth (20 per cent) of the global output, industry reports say.
"This could require potential investments to the tune of $55 billion (Dh201.85 billion) in the next five years," Dr Abdul Wahab Al Sadoun, Secretary General of the GPCA, told Gulf News.
"By then, the Gulf's petrochemicals industry will represent 20 per cent of the total global petrochemical output." The production of petrochemicals is growing at an annual compound growth rate of 12 per cent.
It is expected that by 2015 the production in this region of the polyethylene, polypropylene, PVC and polystyrene will double to reach more than 23.6 million tonnes in comparison to last year's figure of 13.5 million tonnes, a staggering 75 per cent increase.
Fertilisers absorb 28 per cent of the petrochemicals output while basic petrochemicals use 37 per cent, polymers sector absorb 20 per cent and the rest 15 per cent are used by intermediaries.
The Gulf region currently produces over 25 million tonnes of plastic resins annually out of which close to three million tonnes is converted into finished and semi-finished industrial and consumer plastic products.
