Home / Knowledge / News / Technology & innovation to drive Gulf petrochemical sector
Technology & innovation to drive Gulf petrochemical sector
04
Dec '12
Technology and innovation are the two focus areas for Gulf petrochemical industry, Saudi Basic Industries Corporation (Sabic) Vice Chairman and CEO, Mohamed Al-Mady said while speaking at the Seventh GPCA Forum held in Dubai under the theme “Sustaining Competitiveness in a Rapidly Changing World.”
 
Mr. Al-Mady, who also is the Chairman of the Gulf Petrochemicals and Chemicals Association (GPCA), said the industry should design products in view of global demand and try to offer technologically-advanced products.
 
Delivering his inaugural speech at the three-day forum, the Sabic head said the global petrochemical industry has made great efforts to recuperate from the crash experienced in 2008 and early 2009. The Gulf industry has also articulated great strength and buoyancy, but it is still in its embryonic stage.
 
Technology and innovation have a higher impact on the region’s future competitive edge, than feedstock prices and supply. Hence, they need to focus on offering more technologically-advanced and better designed products to the consumers.
 
Highlighting the significance of sustainability, Mr. Al-Mady said sustainability plays a major role in the competitive scene, as while offering more feedstock options it also helps in cutting wastage.
 
Soaring energy and water costs have compelled several chemical firms to improve efficiency to cut costs, while the Government regulations have forced them to make technological upgradations to cut waste.
 
It is important to achieve a balance between use of hydrocarbons for producing water and electricity and development of value-added downstream industries, he said.
 
Held annually, the GPCA forum is a major event for the global petrochemical and chemical industry, which offers participants and visitors an opportunity to get in touch with and develop contacts with industry heads and decision-makers, and also to develop an insight about the present-day market.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Pantone

Textiles | On 25th Jun 2018

Pantone unveils polyester standards

Pantone, provider of professional colour standards for the design...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urmil Arya

Sushila International, a well established textile organisation established ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search