Description
The Rapidly Growing Chemical/Petrochemical Middle East Market:
The Middle East is the most dynamic Chemical & Petrochemical production centre in the world, with the majority of output being targeted towards world markets.
Investment in the Region s US $ 56 billion Petrochemical & Chemical sectors is growing 10-15% annually.
With petrochemical facilities in Europe and the US markets facing closure or downsizing, the Gulf countries have emerged as the world s premier choice for new facilities and investment in this industry.
UAE invests heavily in its petrochemical industry, the capacity is expected to increase threefold, which opens up opportunities in the downstream end use processing sector.
Dubai, the Middle East s logistics and re-export hub, provides an industry springboard into new and emerging markets, including Iraq, Iran and Libya. The introduction of new free zones and industrial cities gives yet another strong support.
Following the success of Abu Dhabi Polymers company, the emirate s first petrochemical venture, further expansion plans are being drawn. Among the GCC countries, Saudi Arabia is expanding its petroichemical business as planned and countries such as Qatar & Kuwait have begun to expand their presence in this field too.
