Business

Dubai, United Arab Emirates, 4 January 2019: The GCC's petrochemicals, plastics as well as rubber manufacturers discussed advancement strategies for innovation at ArabPlast 2019 as a business concern, indicating that the development, enhancement as well as modernisation of the sector is a top priority.

"Over the past few years, the GCC's petrochemicals, plastic and rubber industry have evolved to new heights, and the sector is only set to experience growth and development with major players of the industry applying innovation as a mandate to stay relevant in the face of rising market competition," said Satish Khanna, General Manager, Al Fajer Information & Services, Dubai, organisers of ArabPlast 2019.
Petrochemicals are very important for any type of industry, and also 95 percent of all manufactured goods such as electronics, furniture, appliances, textiles and a lot more are based upon petrochemicals, making it a crucial economic driver.

Global Data's latest report, H2 2018 Global Petrochemical Capacity and Capital Expenditure Outlook facts out that the global petrochemicals capacity is poised to see significant growth over the next nine years, possibly raising from 1,550.5 million tonnes per annum (mtpa) in 2017 to 2,031.6 mtpa in 2026. Around 1,158 planned and announced plants are slated to come online in the next nine years, primarily in Asia and the Middle East. Asia, the Middle East, and North America are the leading regions adding to capacity enhancements in the next nine years.

While petrochemicals function as a vital booster to the economy, plastics, as well as rubber manufacturers, are thinking of brand-new means to produce as well as utilize these materials that could profit the industry-- as well as society and also the ecosystem. A large component of the show likewise focused on preference for plastic bottles over conventional glass bottles by pharmaceutical manufacturers.

Observing over 5.5 percent annual earnings development over 2018, the worldwide pharmaceutical plastic bottles market is most likely to cross the value of US$ 25 Bn in 2019. Innovative technologies such as 3D technology, extrusion blow moulding, and also injection blow molding further allow prolonged applicability thereby pushing the development of pharmaceutical plastic bottles market.

"The GCC's spending on R&D and innovation has been significant in the past few years, with the industry implementing ambitious training programmes and collaborating with impressive research institutions, signalling that innovation is a top priority for any sector. At ArabPlast 2019, technology and innovation strategies will not only be discussed, but also make its way into the operational framework of several companies," added Satish Khanna.

While technology, as well as innovation, will form the basis of the mega event, the show will also function as a wonderful platform to help end-users attain their business and performance objectives, whilst providing considerable networking possibilities throughout the event where connections, both old and new, will certainly be nurtured.

ArabPlast 2019, is set to happen during the period between 5th to 8th January at Dubai International Convention and Exhibition Centre. It is the best platform to unveil new products, witness updates of the industry, open interaction networks with industry peers, and meet huge global decision-makers in the plastics, rubber and petrochemical industry. The international forum will provide participating companies with a chance to establish their presence in the region, increase their exports and also open conversations with the Gulf countries.

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