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GPCA Predicts GCC Petrochemicals and Chemicals Capacity Set to Soar 50% by 2020
 
GPCA Predicts GCC Petrochemicals and Chemicals Capacity Set to Soar 50% by 2020

• GPCA announces updated regional petrochemicals database

Dubai, UAE. April21, 2013:The Gulf Petrochemicals & Chemicals Association (GPCA) today announced the annual update of its petrochemicals and chemicals database.

According to the database, the GCC petrochemicals and chemicals capacity is forecast to reach 191.2 million tons by 2020, a staggering 50% increase from the 127.8 million tons recorded in 2012.

The database has been extended by four years so that it now covers the period from 2005 to 2020. The database of 119 products is expected to serve as a reference for producers, researchers, policy makers and anyone involved in the petrochemicals sector. Product coverage has also increased by 297%.

Driving the growth is Saudi Arabia which is expected to add 40.6 million tons of additional capacity by 2020. Qatar and the UAE are in second and third place, set to add 10 million tons and 8.3 million tons respectively towards petrochemicals capacity.

“This database is absolutely crucial in assessing the overall health of the region's petrochemicals and chemicals industry. Using forward-looking data up to 2020, all stakeholders in this sector will be able to identify areas of growth and take advantage of the variety of opportunities that this sector will offer in the coming years,” said Dr. Abdulwahab Al Sadoun, Secretary General of the GPCA.

As the voice of the region's petrochemicals and chemicals industry, the GPCA is committed to establishing a comprehensive database on the Gulf petrochemical industry in line with its strategy to enable thought leadership and innovation.
The database containshistorical capacity, production, exports and imports statistics by product, country and company from 2005 to 2020. The data was provided by over a 100 companies in the Gulf region and was independently verified and collated.

Access to the database is one of many benefits of GPCA membership.  The database is now available and can be accessed and data downloaded free of charge by GPCA members at:
http://86.96.195.183/Default.aspx?ReturnUrl=%2fPetrochemical%2fControlPanel.aspx)

***


Posted by : Dubai PR Network Editorial Team
Viewed 7472 times
PR Category : Energy and Industry
Posted on : Wednesday, April 24, 2013  2:30:00 PM UAE local time (GMT+4)
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