According to estimates by the Gulf Petrochemicals and Chemicals Association (GPCA), the GCC will meet 20% of the world's petrochemical demand by 2020.
The growth of petrochemicals in the region continues to be very impressive. Current petrochemical output in the region is some 63 million tonnes and this will almost double between now and 2015, with a number of large scale projects projects underway throughout the region.
The annual GPCA Forum is now underway and the agenda has a strong focus on sustainability issues and on achieving success in the post-recession environment.
In implementing such a huge investment programme (estimated at approximately $170 billion between now and 2015), producers in the region will face a number of challenges and issues but these will be overcome, given the right skills and resources. There is little doubt that over the coming decade, the region will develop into the global petrochemicals hub.
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