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GPCA expects ethylene production to grow two-folds
04 Dec '07
1 min read
Gulf Petrochemicals and Chemicals Association (GPCA) recently forecasted that the Middle East production capacity for ethylene would nearly double in the coming five years time reaching more than 29 million metric tons by 2012 compared to the present 13 million.
The growth will be almost half of the global production capacity. Moreover, it is believed that in the future the region is expected to be the center for the world petrochemical production providing materials for packaging, healthcare, pipes, electronics and many other industrial goods.
In addition, most of the products would be supplied to the developing markets of China and India.
Experts from the industry believe that the world's largest program for construction of new ethylene plants will also take place in Middle East.
However, with soaring prices of oil marked at $100 a barrel has been creating a huge pressure for thepetrochemical industry and as a consequence y the next year economic activity may impede in important markets like the US and China.
The growth will be almost half of the global production capacity. Moreover, it is believed that in the future the region is expected to be the center for the world petrochemical production providing materials for packaging, healthcare, pipes, electronics and many other industrial goods.
In addition, most of the products would be supplied to the developing markets of China and India.
Experts from the industry believe that the world's largest program for construction of new ethylene plants will also take place in Middle East.
However, with soaring prices of oil marked at $100 a barrel has been creating a huge pressure for thepetrochemical industry and as a consequence y the next year economic activity may impede in important markets like the US and China.
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