The annual production of plastic raw materials in the Gulf region will grow to 23.6 million tons or 73 percent by 2015, compared to 13.6 million tons at present, Dr Abdulwahab Al-Sadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association, said. Factories operating in Saudi Arabia are forecast to witness a 5 million tons increase in their market share. Yet the Kingdom's total production of plastic raw materials market share is expected to present to 66 percent by 2015 from 75 percent at present. Abu Dhabi however is expected to increase its production capacity to 4.2 million tons per year from the current 3 million tons, representing 71 percent. By 2015, Abu Dhabi's total production of plastic raw materials will increase to reach 18 percent of Gulf total production, compared to the current 8 percent. Against this backdrop, the 3rd GPCA Plastics Summit will be held on April 3-5 at the Grand Hyatt Dubai under the theme “Plastics Conversion: Growth Opportunities in Challenging Markets”. Al-Sadoun said “the Gulf's plastics conversion industry is a pillar of the regional economy, providing jobs and increasing the value of our most important export: oil and gas. The 3rd GPCA Plastics Summit will bring together some of the region's biggest companies to debate the best approaches to unlock business opportunities in international and emerging markets, and the need for innovation and advanced technology in order to maintain the competitiveness and innovation of regional manufacturers in an increasingly global marketplace.” Despite the challenging global economic climate, the outlook for regional producers of plastics remains bright, with the annual consumption of resins, the raw materials for everyday products millions take for granted, expected to grow 50 per cent, from 3.6 million tons to 5.4 million tons, over the next five years. Heavy demand for consumer packaging and plastics for use in the real estate and construction sector is driving the expansion, accounting for 70 percent of the total output of the roughly 1,200 companies manufacturing finished and semi-finished plastic goods in the Gulf. Dr. Al-Saldoun said: “More resins consumption within the region is a positive sign for the emergence of Gulf-based expertise in plastics conversion, and good news for skills development and jobs. It shows that more local manufacturing is taking root in the region and that GCC plastics exporters are increasingly harnessing the cost efficiency and location advantages of the Middle East in serving overseas markets. “The 3rd GPCA Plastics Summit will devote special sessions to the twin industry drivers of packaging and construction, delivered by internationally respected authorities. The program will also begin with a half-day ‘market seminar', examining potential openings for Gulf-based plastic converters in various industry verticals and geographies, including MENA, Asia and Europe.” He further said that “access to more raw materials is crucial to a growing industry but product innovation will be equally critical to the development of high-value products and services in plastics. That's why the Plastics Summit in April will once again be hosting the GPCA innovation awards, to promote the wider adoption of new technology and original manufacturing techniques in the plastics conversion industry, and encourage the modernization of local firms, many of which remain small-sized, family-run concerns.” The 2012 GPCA Innovation Awards feature three main categories: plastic packaging and consumer goods; construction and industrial products; and sustainable plastic products and processes. Two additional awards will be made for “Best Support”, recognizing ancillary companies and service providers, and “Talents in Plastic”, which rewards outstanding individual and team contributions to the conversion industry. All entries will be evaluated by an independent jury of regional and international plastics experts drawn from outside the conversion sector. The deadline for entries is March 15.
