Page 25 - Plastics News March 2017
P. 25

Middle East Plastic And

            Packaging Industry -

            Expanding Every Year



            •   According to a market research by Smithers Pira,
                the packaging sector in the Middle East and North
                Africa (Mena) region is forecasted to grow to 52.4
                billion US-Dollar by 2019 from the current level
                of 41 billion US -Dollar
            •   As per statistics from the GCC Plastics Industry
                Indicators 2015 report, the GCC plastic production
                capacity has tripled in the last 10 years, reaching
                26.2 million tons in 2015, earning US$32 billion
                in revenues. Source www.zawya.com

            •   According to ICIS, a petrochemical market firm
                - At least 2 million new polyethylene (PE) and
                polypropylene (PP) capacity will be brought
                online in the Middle East by 2020

            •   According to the Gulf Petrochemicals and
                Chemicals Association the industry makes up
                the second-largest manufacturing sector in
                the region, producing up to $108 billion worth
                of products a year. The GCC plastics industry
                accounts for more than 35 per cent of global
                plastics trade, according to Borouge- a leading
                provider of  innovative value creating plastics
                solutions in Middle East




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