Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Plastics to be the main driver for crude oil demand
 
  • ArabPlast 2019, closed on a grand note witnessing the participation of more than 900 companies from 32 countries
  • Advanced economies currently use up to 20 times more plastic than developing economies on a per capita basis, underscoring the huge potential for global growth
Dubai, United Arab Emirates, 10 January 2019:   Industry experts at ArabPlast 2019 indicated that plastics will be the main driver for crude oil demand, accounting for more than 33 percent of oil demand growth globally in the period to 2030. ArabPlast 2019 - the biggest plastics, petrochemicals and rubber industry exhibition in the Middle East and North Africa (MENA) region, closed on a grand note witnessing the participation of more than 900 companies from 32 countries.
 
It has been observed that plastics – the key driver for petrochemicals from an energy perspective – has outpaced all other bulk materials (such as steel, aluminium, or cement), nearly doubling since 2000. Advanced economies currently use up to 20 times more plastic and up to 10 times more fertiliser than developing economies on a per capita basis, underscoring the huge potential for global growth.
 
“Plastics is experiencing a surge in demand, and the growth is fuelled by varied sectors. While packaging and infrastructure remain the key industries driving the growth of the plastics, construction plastics are also in high demand,” said Satish Khanna, General Manager, Al Fajer Information & Services, Dubai, organisers of ArabPlast 2019.
 
The construction plastics market was estimated to be USD 75.6 billion in 2018 and is projected to reach USD 105.7 billion by 2023, at a CAGR of 6.9 percent. About five percent of the world's petroleum is estimated to be used to make plastics. Plastics are widely used in the construction industry for application in pipes and windows, among others.
 
“Plastics have exceptional utility. It is not only flexible and affordable, but can also resist severe weather conditions, making it a popular source of item in the Middle East, Asia and Europe,” added Khanna.
 
Asia Pacific (APAC) is the largest and the fastest-growing market for construction plastics. In addition, China continues to drive the global demand of plastics due to its rising population and rapidly growing infrastructure facilities. Given the rise in construction, Middle East, Europe and US also serve as key players for driving demand in the industry.
 
In addition to construction and buildings, packaging is another sector driving the global demand for plastics. From bottles to food wrappers, the largest segment of the packaging plastics market, account for about 36 per cent of global demand. 


Posted by : Dubai PR Network Editorial Team
Viewed 9504 times
PR Category : Energy and Industry
Posted on : Thursday, January 10, 2019  4:22:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Emirates Nuclear Energy Corporation Celebrates 3rd Barakah E...
Next Story : Siemens outlines economic, societal contribution to UAE in n...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Versus Versace Republique - VSP1V0519 [4510-Views]
Make Up for Ever is Breaking Through With a Lipstick Revolution With Rouge Artist [3747-Views]
Parmigiani Fleurier Launches New Tonda Reine De Mai [3194-Views]
Huawei is Set to Dramatically Alter the Entry Level Smartphone Segment with the Launch of ... [2993-Views]
How to Work the Hottest Fall Makeup Trends on a Budget [2968-Views]
Dubai Chamber Whitepaper Examines Growth Potential of UAE Space Economy [2890-Views]
Prevention is Better than Cure, Especially with Lice! [2804-Views]
That Hair Tho – THT Offers Complimentary Haircuts for Those Who Have Lost Jobs, Have Job I... [2644-Views]
Euronews Investigates How the UAE is Using Artificial Intelligence in Healthcare and Educa... [2644-Views]
Medcare Partners with InterSystems to Implement World-Class Healthcare Information System [2616-Views]
Free Me – The First Naturally Kind Mosquito Repellent Made in the UAE [2599-Views]
ADNOC Distribution Joins Key UAE Suppliers Qualified to Provide Nuclear Quality Products f... [2587-Views]
Dabur Herb'l Launches Natural Gel Toothpaste With the Freshness of Aloe Vera [2562-Views]
Unlocking the Potential of eSIM for Consumers [2501-Views]
Ulissi to Lead UAE Team Emirates at the Tour of Luxembourg [2415-Views]
A Springfield Dress a Day, Keeps Your Style A-Okay [2411-Views]
#TishTashThru - Welcome to the Future, in the Form of a Gloriously Retro Drive Thru Event ... [2386-Views]
Autumn/Winter 20' Beauty Picks from Missha Cosmetics [2308-Views]
Majid Al Futtaim Inaugurates its First Culinary Experience Destination in the UAE — Food C... [2267-Views]
Costa Coffee UAE Thanks its Customers with One Dirham Pastries [2152-Views]
WCU: Saudis Talk Up Oil; Strong Grain Momentum Continues [2132-Views]
Collector Alert! Hublot Celebrates Its 40th Anniversary [1976-Views]
Rado Golden Horse Automatic [1972-Views]
OPPO Set to Launch Its All-New Groundbreaking Reno4 Series in the Middle East this Month [1960-Views]
Boeing, Etihad Airways and World Energy Lift Sustainable Aviation Fuel to the Next Level o... [1947-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories