By Nick Gilbert
Reportlinker.com has added a new report titled, “Plastics Industry in the Middle East - Increased Focus on Downstream Petrochemicals to Drive the Sector” to its product catalog.
Published based on a research study by industry analyst, GlobalData, the report offers a comprehensive analysis of the plastics industry in the Middle East. The report elucidates the reasons for the economic diversification of the various countries in the Middle East and elaborates on the advantages the economic diversification offers to the plastics industry.
The report presents the contribution of the oil industry towards the GDP of each of the Middle East countries. Analysis of the tactics espoused by the petrochemicals industry in the Middle East to foster growth in the downstream manufacture of plastic resins is provided. The reliance of the Middle Eastern countries on the oil industry has left them vulnerable to economic instability. This spurred the nations to diversify into other revenue generating areas. The last decade saw the strengthening of the upstream petrochemical industry. The countries are moving a step ahead now by focusing on the downstream petrochemicals industry. This move will benefit the plastic resins industry.
The report tracks the trend governing the trade of downstream petrochemicals. The major plastics included in the scope of the report are polypropylene, polystyrene, polyethylene, PET resins and polyvinyl chloride. The study provides the export data for all these plastics and also cites the reasons for augmented export of the plastics to Asian economies, particularly China. The report also tracks the growth in capacity of these plastics as well as basic petrochemicals like propylene, ethylene, benzene, butadiene and methanol. Market opportunities, challenges, historical and forecasted information for the Middle East basic petrochemicals market is presented in the report.