The Gulf remains as world’s largest producer and exporter of petrochemicals
The Gulf region is the world’s largest producer and exporter of petrochemicals commanding 11 per cent of the $600 billion global petrochemical industry. From 2007-2016, 139 petrochemical projects were introduced in the GCC valued at $215 billion, according to a leading petrochemical Saudi company.
This was a fact highlighted during the ArabPlast 2017, one of the largest petrochemical exhibition in the world.
China, which witnessed a rise in the petrochemicals industry in 2016, has occupied the largest pavilion at the exhibition, promoting the latest innovative product solutions and machinery. According to BMI research, ethylene output in the first eight months of 2016 was up 6.6 per cent year-on-year to 13.9 million tonnes and primary plastic production raised 7.9 per cent year-on-year to 66.4 million tonnes.