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GCC plastics sector booms

from Emirates Business 24/7

Lower gas prices, higher prices for plastics products compared to other petrochemicals and an increasing insistence by governments in the GCC to use their gas instead of flaring it is giving rise to a booming plastics industry in the region. The industry trend is being set by Borouge, which plans to produce 4.5 million tons of petrochemicals annually by the end of 2013 – all of which will be plastics. Even though just 20 percent of the GCC petrochemical produce is plastics products it accounts for 70 percent in terms of value. more

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