UAE polymer industry grows
The United Arab Emirates (UAE) has recorded a 24.4% growth rate in the polymer industry in 2016.
The production capacity of the polymer industry in the GCC will grow to register 34.5 million tonnes by 2022, at a cumulative annual growth rate of 3%, according to the Gulf Petrochemicals and Chemicals Association’s (GPCA) polymer industry index that will be issued during its Polymer Value Chain Forum on 9 and 10 April in Abu Dhabi.
The GCC polymer industry sales have marked $34 billion in 2016, representing 4% of the global sales in that sector, according to GPCA data.
The production capacity of the polymer industry has inched up by 5% to reach 27.1 million tonnes, with the UAE ranking the second in the Gulf’s production capacity with an 18% share in that growth.
Benefiting from the anticipation growth in the transportation and automotive sector, the rubber plastics industry will witness “the largest production quantity” in the coming years, according to the press release.