Chemical products constitute 74% of total Saudi non-oil exports

The Industrial sector in the Kingdom is witnessing major development and growth, with a significant role played by the plastic and petrochemical sectors in achieving sustainable development and diversifying the sources of income thus pertaining positively to the Kingdom’s 2030 Vision.
While the Kingdom holds a substantial global market share of six percent from the total petrochemical production, this share is subject to significant increase if we consider the Kingdom’s capacity and its oil wealth, in addition to considering the diversification of petrochemicals derivatives to strengthen the local downstream industry and increase opportunities.
A report issued by the Customs Department pointed out that the chemical products, plastic and rubber constitute 74 percent of the total Saudi non-oil exports, with a value of 118 billion riyals.
The plastic manufacturers on the other hand, are working to diversify their products portfolio to ensure long term sustainability and enhance the sector’s contribution in the economy.
According to the Gulf Petrochemicals & Chemicals Association’s recent report, Saudi Arabia will witness an increase in the production capacity of plastics sector by 3.2 percent annually until 2020.
Showcasing technologies and trends that support the development of these industries and displaying products & services that provide practical solutions and applications, enhance the role of Saudi Exhibition for Plastics and Petrochemicals as the largest industrial gathering in the Kingdom, which will be hosted in 2017 in Jeddah thus offering a unified platform for the Plastics and petrochemicals and Print and Pack (PPPP) sectors.
Kamil Al-Jawhari, Saudi PPPP project manager, said “The Saudi Plastics and Petrochemicals and The Saudi Print and Pack gives insight on the market needs associated with plastic & petrochemicals products that are developing at a rapid pace.”
He added: “The exhibition facilitates direct communication between decision makers and major players with the target audience, enhance knowledge transfer between local and regional participants and boost foreign investment in these industries.”
The UFI certified show which is organized by Riyadh Exhibitions Company will be launched in its 14th edition during the period from Feb. 27 to March 2, 2017, at Jeddah Center for Forums and Events, and is sponsored by SABIC as the Diamond Sponsor and the Saudi Polymers Company as the Platinum Sponsor.

Source: Arab News