14th GPCA Forum sheds light on growth of chemical industry in Arabian Gulf
The Forum, themed by Winning through Strategic Partnerships, gathered senior industry leaders in the Arabian Gulf and delegates across the globe to discuss in depth the $14.2 billion worth of mega projects and M&A deals that have taken place in the Gulf region over the last 12 months.
The speaker line-up of the forum consisted of major industry leaders, representing some of the world’s most prestigious chemical companies, including Total, Sahara International Petrochemicals Company, Oman Oil and Orpic Group, and Evonik.
A report highlighting the chemical production, export, sales, job creation and investments made in the Arabian Gulf in 2018 was also presented at the forum.
The report stated that the region’s chemical industry achieved $84.1 billion in revenue last year, with production capacity increasing by 2.8% to reach 174.8 million tons.
The report also revealed that chemical revenue in Kuwait and the UAE increased by 28.4% and 32% respectively while Bahrain’s chemical sector posted a record revenue growth of 39% in 2018. Oman had the highest contribution to the GDP among the GCC countries, followed by Qatar. Saudi Arabia maintained its spot among the world’s top 10 exporters of chemicals in 2018, with $62 billion in revenue.
ChemOrbis supported the two-day forum, which ended on December 5, as media sponsor.
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