To account for 33% of oil demand growth
Industry experts at ArabPlast 2019 indicated that plastics will be the main driver for crude oil demand, accounting for more than 33 per cent of oil demand growth globally in the period to 2030.
ArabPlast 2019 - the biggest plastics, petrochemicals and rubber industry exhibition in the Middle East and North Africa (MENA) region, closed on a grand note witnessing the participation of more than 900 companies from 32 countries.
It has been observed that plastics – the key driver for petrochemicals from an energy perspective – have outpaced all other bulk materials (such as steel, aluminium, or cement), nearly doubling since 2000.
Advanced economies currently use up to 20 times more plastic and up to 10 times more fertiliser than developing economies on a per capita basis, underscoring the huge potential for global growth.
“Plastics is experiencing a surge in demand, and the growth is fuelled by varied sectors. While packaging and infrastructure remain the key industries driving the growth of the plastics, construction plastics are also in high demand,” said Satish Khanna, General Manager, Al Fajer Information & Services, Dubai, organisers of ArabPlast 2019.
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