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GCC chemical industry achieves revenue of USD 84.1 billion in 2018

GCC chemical industry achieves revenue of USD 84.1 billion in 2018

‘GPCA Pulse of the Chemical Industry Report’ featuring the key achievements of the region’s chemical industry was released at the 14th Annual GPCA Forum

  • Saudi Arabia is among world’s top 10 exporters of chemicals
  • Against the backdrop of positive price trends in fertilizer and polymer products, revenue in the UAE increased by 28.4%
  • Oman’s chemical sector has the highest contribution to GDP among the GCC countries, with 5.1% in 2018, which is double that of the region
  • Bahrain’s chemical sector achieved record revenue growth in 2018 of 39%
  • Chemical revenue in Kuwait has increased by 32% in 2018


Dubai, United Arab Emirates, December 4, 2019 – The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, has highlighted the growth and success of the chemical industry in the Arabian Gulf following the release of ‘GPCA Pulse of the Chemical Industry Report’ today at the 14th Annual GPCA Forum, which took place from December 3-5, 2019 at Madinat Jumeirah, Dubai. The report highlights chemical production, export, sales, job creation and investments made in the Arabian Gulf in 2018.


This year, the forum themed ‘Winning through Strategic Partnerships’ was inaugurated by His Excellency Dr. Mohammed bin Hamad Al Rumhi, Oman’s Minister of Oil and Gas. It included a prestigious speaker line-up that consisted of senior industry leaders, representing some of the world’s largest chemical firms.


The report outlined that the GCC chemical industry achieved a revenue of USD 84.1 billion in 2018, with production capacity reaching 174.8 million tons, signaling an increase of 2.8% in terms of contribution to the regional GDP. Due to the increased demand of chemicals by the GCC producers across the globe, the production capacity of the GCC chemical industry was also added by 13.3. million tons in 2018.


The report has revealed that Oman’s chemical sector has the highest contribution to GDP among the GCC countries, with 5.1% in 2018, double the figure in the region. This achievement is attributable in part to the manufacturing sector being inscribed within the top five sectors identified by Oman’s National Program for Diversification.


Saudi Arabia has maintained its exceptional standing in 2018, retaining its spot in the top ten exporters of chemicals today globally. It is also the region’s powerhouse, with the largest volume output and chemical sales revenue. In 2018, Saudi producers generated USD 62 billion in revenue. The Saudi chemical industry is also a champion in terms of portfolio diversification, with GPCA member companies in Saudi Arabia producing as many as 126 products with a total capacity of 119.2 million tons.


Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented, “The chemical industry in the GCC is consistently scaling new heights in terms of production, portfolio diversification and job creation. Such success is driven by visionary regional leadership which is driving economic diversification initiatives that are focused on developing the non-oil sector. This is supported by several government initiatives such as Oman’s National Program for Diversification. Saudi Vision 2030 is also playing a role in supporting economic diversification. As it pertains to the UAE, the chemical sector is situated mostly in Abu Dhabi, where the industry is developed in line with Abu Dhabi’s Economic Vision 2030, which in turn is creating new employment opportunities.”


He further added, “The employment in the GCC chemical industry increased by 157,000 in 2018 with the UAE being the second largest employer gaining approximately 18% market share in regional employment in the chemical sector.”


Against the backdrop of the positive price trends in fertilizer and polymer products, revenue trends in the UAE have increased by 28.4%. The petrochemicals sector in the UAE was characterized by rapid development, with 77% of the current production capacity being launched in the last decade (2008-2018). In 2018, the UAE chemicals output was 14.5 million tons, with basic chemicals representing one third (33%), followed by polymers (28%) and fertilizers (30%).


Bahrain’s chemical sector achieved the highest revenue growth of 39% in 2018, attributed primarily to higher revenue from fertilizer products. Bahrain’s production capacity reached 1.4 million tons and achieved a revenue of USD 327 million in 2018.

Kuwait achieved the second highest chemical revenue growth of 32% in 2018. With industrial expansion being a top priority as part of the long-term development priorities in Kuwait’s 2035 strategy, this achievement further cements its position as a global center for petrochemical production.

Following Oman, with 4.1% in 2018, Qatar’s chemical sector has the second highest contribution to the GDP among the GCC countries. The production capacity reached 19.1 million tons and achieved chemical revenue of USD 7.3 billion, an increase by 14% in 2018. The fertilizers represent 51% of Qatar’s share in the country’s total production capacity, highest in the country so far.

GPCA is the trusted source for regional chemical industry information, with over 130 reports published to date. Attended by over 2,000 delegates form 50+ companies each year, the forum serves as an ideal platform for the exchange of chemical and petrochemical-related knowledge, providing access to exclusive market intelligence and unrivalled networking opportunities.


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About the Gulf Petrochemicals & Chemicals Association

The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over USD 108 billion worth of products every year.

GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry.

Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports.

For more information, visit www.gpca.org.ae.

Media Contact:

Ronak Thakkar

FleishmanHillard
E: [email protected]

Tel: +971 54 586 9828

Slavka Atanasova
Gulf Petrochemicals and Chemicals Association
P. O. Box 123055,
Dubai,
United Arab Emirates begin_of_the_skype_highlighting
E: [email protected]

Chemical industry must prepare for Supply Chain 4.0, say speakers at 11th GPCA Supply Chain Conference.

The conference is underway this week from 15-17 April at the InterContinental Festival City Hotel, Dubai, UAE

Dubai, United Arab Emirates, 16April 2019–The chemical industry in the Arabian Gulf must ensure its readiness to face the growing rate of supply chain digitalization which will lead to continuous disruptions and createnew challenges and opportunities for regional producers to adapt to and respond to a new market reality, said speakers at the 11th edition of the Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference held this week from 15-17 April 2019 at the InterContinental Festival City Hotel, Dubai, UAE.


The chemical supply chain is transforming rapidly as global challenges add pressure on chemical players to improve their efficiency and end-to-end supply chain. Against this backdrop, a new set of technological advancements, known as 'Supply Chain 4.0’, is influencing how organizations oversee their logistics, procure materials, and generate value. The move towardsgreaterdigitalization is transforming chemical supply chains, creating new opportunities tomake them more agile, resilient, faster and efficient.


In line with the event’s theme ‘Getting Ready for the Future: Supply Chain 4.0’, speakers discussed the key enablers for a successful chemical supply chain transformation ranging from collaboration, technology, digital procurement, value-based sales and operations planning, building local content and more. The conference began with an opening address byAhmed Al-Shamsi, SVP, Regional MEAE, Borouge, and Chairman, GPCA Supply Chain Committee, and continued with a keynote address byFayez Al Malki, VP, Global Supply Chain, SABIC. Al Malki called on the chemical industry in the Arabian Gulf region and globally to respond to and address the new generation ofdisruptive technologies, such as Artificial Intelligence (AI), Advanced Analytics, Internet of Things (IoT), Robotics, Process Automation and the Digital Supply Chain Twins, which will continue to disrupt existing supply chain operating models now and into the future, he said.


In line with the regional aspirations to position the Arabian Gulf region among the top logistics hubs globally, future GCC governments visions and long-term initiatives have been launched with the objective to transform the supply chain landscape in the GCC. Inhis keynote presentation on day two, Abdulaziz Mohammed Almohawes, Head, Authorized Economic Operator, Saudi Customs,highlighted the importance of the Saudi Authorized Economic Operator Program,a new trade facilitation initiative offering faster and simpler import and export processing in the Kingdom. For his part, Eng. Ali A. Al-Omeir, Business Development Director, MODON, discussed the programs and initiatives by the Saudi Authority for Industrial Cities and Technology Zones to utilize smart technology and attract new investments in the country.


Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented, “Supply Chain 4.0 is not a mere buzzword, it is a necessity and a reality that is right here, at our doorstep. No industry is better placed than the chemical industry in the Arabian Gulf to respond to the immense opportunity created by this rapidly evolving trend. To build more responsive and intelligent supply chains, the industry must leverage the latest technology innovations. It must embrace the new generation of digital procurement which supports better decision-making and improved performance.”


“A concerted focus on end to end visibility will also be needed to manage product and data flows across global supply chains. The chemical industry must develop new service offerings to create greater value for its customers and source goods and services from within the region to boost local content and support the growth of SMEs. Ultimately, chemical players should enact a cultural shift from being efficiency focused to becoming more value driven,” he concluded.


In line with its commitment to building local human capital in the Arabian Gulf region, on 15 April 2019 GPCA hosted the 11th edition of its Leaders of Tomorrow program on the sidelines of the Supply Chain Conference. Students from universities across the GCC attended a special seminar comprised of expert presentations by senior industry leaders fromCity Cement Company, Borouge and TASNEE, as well as an interactive session designed to build real-life knowledge and experience for the young participants and their peers.

- ENDS    -


About the Gulf Petrochemicals & Chemicals Association

The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over US$108 billion worth of products every year.


GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry.


Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports.


For more information, visit www.gpca.org.ae.

Contact:
Slavka Atanasova
Gulf Petrochemicals and Chemicals Association
P. O. Box 123055,
Dubai,
United Arab Emirates                                                                     
T: + 44 7561 525126
E: [email protected]

GPCA PlastiCon and R&I Summit to take place in Bahrain this March:

GPCA conferences will be held under the patronage of His Excellency Shaikh Mohammed bin Khalifa bin Ahmed Al Khalifa, Minister of Oil, Bahrain.


Dubai, United Arab Emirates, 20 January 2019 – The Gulf Petrochemicals and Chemicals Association (GPCA) is proud to announce that the 10th edition of PlastiCon and the 6th edition of GPCA Research and Innovation (R&I) Summit will be held under the patronage of His Excellency Shaikh Mohammed bin Khalifa bin Ahmed Al Khalifa, Minister of Oil, Bahrain, at ART Rotana, Amwaj Islands, Bahrain from 11-12 March and 13-14 March respectively.


The week-long activities will kick off with PlastiCon which will address the theme of ‘Innovative Plastic Designs: Sustainability for Future Generations.’ In light of new research, experts estimate that integrating recycled plastics into the chemical value chain could create a profit pool of USD 55 billion a year worldwide by 2030. To address this trend, PlastiCon will discuss the circular economy in plastics in the GCC and globally and provide an update on the recycling landscape in the region.


The opening address will be presented by Ahmed Omar Abdulla, CEO, Borouge, and Chairman, GPCA Plastics Committee, while the keynote address will be delivered by Dr. Maurits van Tol, SVP, Innovation and Technology, Borealis. Other distinguished speakers include Dave Andrew, VP, Sustainability, ExxonMobil; Lorraine Francourt, EHS Director, Chemicals Management and Circular Economy, Dow Chemicals, and Dr. Waleed Ahmad Al-Shalfan, GM, Technology Petrochemicals SBU, SABIC, who will deliver day two’s opening address.


The changing nature of research and innovation in the digital age will be the focus of the 6th GPCA R&I Summit, which will begin with an opening address by Dr. Moayyed Al-Qurtas, Chairman, GPCA Research and Innovation Committee, and continue with a keynote address by Abdulaziz Al-Judaimi, SVP Downstream, Saudi Aramco. As part of the panel session, Al-Judaimi will be joined by Uwaidh Khalaf Al-Harethi, EVP, Corporate Innovation and Business Development, SABIC, to discuss the oil-to-chemicals (COTC) breakthrough technology.

The keynote presentation on day two will be delivered by Dr. Thorsten Loehl, VP, Innovation, Borouge, who will be followed by Dr. Maurits van Tol, SVP, Innovation and Technology, Borealis.


Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented, “The crude oil-to-chemicals (COTC) technology has the potential to reshape the global petrochemical industry and fundamentally change the dynamics of global competition in the years to come. At the same time, by 2030 digitalization is expected to increase annual margin potential in the global chemical industry by more than USD 1.8 trillion. These and other cutting-edge developments will be discussed during the R&I Summit, while PlastiCon will assess the role of sustainability in the global plastics industry, as well as the future of plastics packaging and design.”


He added, “We are proud to be hosting both conferences under the patronage of H.E. Shaikh Mohammed bin Khalifa bin Ahmed Al Khalifa, 

Minister of Oil, Bahrain, and I look forward to welcoming you to these important industry gatherings in Bahrain this March.”


The 6th GPCA R&I Summit will see the launch of the Innovation Competition, GPCA’s latest initiative, aimed at promoting innovation among university students in the Arabian Gulf region, and bridging the gap between industry and academia in the field of chemistry. On 12 March, GPCA will host an exclusive student seminar as part of its Leaders of Tomorrow program in Dhahran, Saudi Arabia, dedicated to building local human capital in the GCC region.


For more information on PlastiCon and the R&I Summit please visit www.gpcaplastics.com and www.gpcaresearch.com.


-ENDS -

About the Gulf Petrochemicals & Chemicals Association

The Gulf Petrochemicals and Chemicals Association (GPCA) was established in 2006 to represent the downstream hydrocarbon industry in the Arabian Gulf. Today, the association voices the common interests of more than 250 member companies from the chemical and allied industries, accounting for over 95 percent of chemical output in the GCC. The industry makes up the second largest manufacturing sector in the region, producing over US$108 billion worth of products every year.


GPCA supports the petrochemical and chemical industry in the Arabian Gulf through advocacy, networking and thought leadership initiatives aimed at helping member companies to connect, share and advance knowledge, contribute to international dialogue, and become prime influencers in shaping the future of the global petrochemicals industry.


Committed to providing a regional platform for stakeholders from around the world, GPCA manages six working committees – Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care – and organizes six world-class events each year. The association also publishes an annual report, regular newsletters and various other industry reports.


For more information, visit www.gpca.org.ae.

Contact:
Slavka Atanasova
Gulf Petrochemicals and Chemicals Association
P. O. Box 123055,
Dubai,
United Arab Emirates
T: + 44 7561 525126 begin_of_the_skype_highlighting
E: [email protected]


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