IHS Chemical Week


Globalization Continues to be Growth and Innovation Driver

1:52 PM MDT | June 15, 2010 | By PECK HWEE SIM

Dubai, GPCA Plastics Summit — Globalization will be the driver of growth and innovation, says renowned futurist and keynote speaker Ray Hammond. Globalization has resumed strongly following recent years of financial woes that slammed the world economy and has picked up pace, Hammond says. The difference between this wave of innovation and previous ones is that all parties concerned realize the importance of sustaining growth, he says. This means there will be increased focus on recycling, biodegrable products and responsible energy use.  Innovation and creativity in business processes have now become mandatory.
“In this age of globalization, the rate of innovation, world connectivity and people movement are unprecedented,” says Moayyed Al Qurtas, CEO of Tasnee and Chairman of GPCA’s plastics committee. Innovation can come not only in products, but also in operations and business processes, Al Qurtas says.
Also speaking at this inaugural event are leaders and decision makers of companies spanning the plastics chain, from resin producers, to packaging and FMCG companies such as Procter & Gamble.
Three hundred high-level delegates from around the world gathered today at the First GPCA Plastics Summit to discuss, debate, and deliberate hot issues facing the Middle East plastics industry. Topping the agenda is innovation, sustainability and the opportunities that come with it, and the importance of collaboration between resin suppliers and converters to build a strong and sustainable plastics industry in the Middle East.
The plastics converting industry in the GCC is a “booming” sector growing at 9%-11%/year, and regional plastic consumption per capita will grow to the second largest global region in 2020, through substitution of non-plastic products and new applications, says Khaled Al Mana, Executive Vice President – Polymers SBU at Sabic.

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