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Report for Middle East

The plastics market is slow in most regions, not least because of adverse weather conditions and flooding in many parts of northern India and the Far East. Energy costs owing to high temperatures in Europe have also slowed the market.

Rapid growth in Saudi Arabia’s building sector is driving high demand for, among other items, PVC and insulation. The Kingdom is seeking US$ 425 billion by 2030 for housing, infrastructure and other industrial projects as part of an effort to cut its reliance on oil. In turn, this is driving demand for a wide range of plastic products used in the building and construction industry.

Industrial demand in the GCC for packaging polymers has more than doubled in the past decade from 260,000 tons to 650,000 tons. SABIC has established a value chain collaboration to secure feedstock supply. The company, along with Siemer and Landbell, is among the first to bring together feedstock streams and technology.