Al Hilal advances to AFC Champions League knockout stage despite 1-1 draw with Al Sadd    Finance minister: All Vision 2030 projects have sustainable funding that won't affect public finances    Crown Prince announces medium-term debt strategy to diversify funding sources "A resilient economy capable of overcoming challenges reflects progress towards achieving Vision 2030 goals"    'No excuses' for Israel to not accept ceasefire deal, EU foreign policy chief says    Alkhorayef highlights role of National Initiative for Global Supply Chains in boosting Saudi economy    Saudi Arabia signs investment deals worth SR35bn with foreign firms to strengthen global supply chains    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Riyadh Season draws 8 million visitors in 6 weeks    Saudi FM attends Quadripartite meeting on Sudan in Italy    Gangsters block aid distribution in south Gaza    Russian deserter reveals war secrets of guarding nuclear base    Georgia's new parliament opens first session amid mass protests and boycott    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Kingdom largest plastic converter in Gulf
Published in The Saudi Gazette on 09 - 04 - 2014

JEDDAH – The GCC plastics industry offers a tremendous opportunity for the emergence of a dynamic and innovative small and medium enterprises (SME) sector, observed the Gulf Petrochemicals & Chemicals Association (GPCA), the region's longest- standing trade association during the 5th International Conference for Plastic Conversion, PlastiCon 2014, taking place in the Expo Centre Sharjah from April 7-9, 2014.
"Manufacturers who transform basic plastic products into finished goods represent nearly 20 percent of the region's plastic industry," said Dr. Abdulwahab Al-Sadoun, Secretary-General of the GPCA. "These plastics converters introduce a number of additives to manufacture finished goods that suit the requirements of a diverse range of industries."
According to GPCA research, the plastics conversion market comprises over 1,000 companies that can be classified as small and medium enterprises, including family owned businesses and startups.
"SMEs are today at the the forefront of business innovation in the Middle East," Dr. Sadoun added. "SMEs involved in plastics conversion are particularly innovative as they extend the plastics supply chain by creating value-added products for the construction, infrastructure and food & beverage sectors, while creating thousands of new jobs."
Saudi Arabia is currently spearheading this niche, representing 62 percent of the GCC's plastic conversion market. The Kingdom also leads the plastics market, producing an estimated 18.4 million tons, or 74 percent of the region's polymer production capacity.
The United Arab Emirates is the second largest plastic converter in the GCC, after Saudi Arabia, accounting for 19 percent of the total regional output. The country also ranks second in total plastics manufacturing capacity, representing 10.2 percent of the region's polymer capacity.
GPCA has predicted that, by the end of the decade, the region's plastics conversion will grow to reach 7.5 million tons capacity, an increase of nearly 40 percent of its current output.
"This growth represents a huge opportunity for the emergence of new enterprises," Dr. Sadoun further said. "Along with increased competition for the region's major players, the rise of SMEs will be transformative as it not only represents the forefront of commercial innovation, but also the creation of thousands of jobs."
Now in its fifth edition, Plasticon2014 focuses on how innovation can lead to global and regional growth of the plastics conversion industry, featuring speakers from the region's top petrochemical companies including SABIC, Borouge and Sadara Chemical Company.
On the occasion of PlastiCon 2014, GPCA published the report “GCC Plastics Industry Indicators 2013”, which will be available on its website gpcaplastics.com/2014/ – SG


Clic here to read the story from its source.