Massive Growth and Immense Potential of Mideast to Be Showcased at Fifth Annual GPCA Forum in Dubai
12:24 PM MST | November 15, 2010 | NEWS RELEASE
Driving Innovation for Future Growth Key Theme of Global Petrochemicals Conference
Global ethylene capacity is seeing dramatic change with concentration moving from developed countries such the United States and European countries to the Middle East and China. More than 19 million tons per annum of ethylene capacity will come on stream in the Mideast by 2015. The region will, as a result, be among the leading producers of a range of petrochemicals and plastics, including ethylene glycol (EG), polyethylene (PE), and polypropylene (PP).
The Middle East has overtaken North America as the leading ethylene glycol (EG) producer, accounting for about one-third of the global EG capacity. The region will also become the leading producer of polyethylene (PE) by 2015 when its share of global capacity will rise to about 20%. The region’s share of global polypropylene (PP) capacity will reach 14% in 2015, placing us behind Asia/Pacific, which will have a 23% share, China with 17%, and Western Europe with 14%.
Led by Saudi Arabia, and boosted by Qatar, Kuwait, Abu Dhabi and Oman, the region has built massive petrochemicals production facilities that are among the most cost competitive in the world. Thanks to these developments, the Middle East will not only be the main petrochemical production hub in the future, it is expected to become the main arbitrage point for polymers worldwide, supplying up to 40% of incremental Asian demand for polyolefins in the medium term.
It is this phenomenal growth and potential that will be celebrated at next month’s Fifth Annual GPCA Forum, taking place 7-9 December 2010 at the Intercontinental Festival City, Dubai, two days of top-notch speakers, top-calibre networking receptions and special events all focused on growing in this extremely important petrochemical region.
Shifting focus away from crisis management to driving innovation for future growth, delegates can look forward to hearing insight and experience from leaders of major global and Middle Eastern companies who will discuss the future of the industry, growth areas, and what companies can invest in innovation centres to enhance their competitiveness in an increasingly competitive marketplace.
Delegates will be addressed by Mohamed H. Al-Mady, Vice Chairman and CEO, SABIC and chairman of GPCA, while Khalid Al-Falih, President & CEO, Saudi Aramco, will also be sharing his thoughts on how innovative partnerships further globalization.
“It is a tribute to the vital role played by the petrochemical industry in the Middle East that in terms of production it is now par with the US and Europe. I find it extremely gratifying that the GPCA will use its forum effectively to promote the priorities of this sector and give delegates an exceptional opportunity to interact with the industry’s leaders and decision-makers, as well as share the latest marketplace intelligence,” said Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA.
“Just as much as it is a platform to celebrate successes, the Annual Forum also gives us an opportunity to address burning issues and how they must be effectively tackled to ensure that they do not hinder growth and progress,” he added.
The surge in remedy cases and protectionist actions in 2009 brought by several countries in Asia, and Europe and its potential impact on regional and global industry will very much be on the agenda. The Gulf industry remain committed to free trade and anticipate respect for WTO rules by all countries, added GPCA Secretary General.
Year after year the Forum sees significant increases in attendance with attendance jumping manifold since its inception in 2006. GPCA expects significant growth yet again in 2010. Last December, the Fourth Annual GPCA Forum drew 1,082 attendees from 43 different countries from several global majors including SABIC, Borouge, TASNEE, Equate, BASF, ExxonMobil, Dow Chemicals, Reliance, Shell and more.
“This year’s programme is of a very high calibre and it is reasonable to assume that the forum will perform at a much higher level with an unparalleled line-up of speakers and an agenda designed to promote strategic dialogue,” added Lyn Tattum, Publisher and Group Vice President, Chemical Week.
The Fifth Annual GPCA Forum will be held December 7-9, 2010 at the Intercontinental Festival City, Dubai, UAE. For the latest event information please visit www.gpcaforum.net.