Petrochemicals, plastic and rubber are the key drivers of the economic growth, said Dr Abdullah bin Mohammed Belhaif Al Nuaimi, UAE Minister of Infrastructure Development.
He was speaking after officially opening ArabPlast 2019, the biggest plastics, petrochemicals and rubber industry exhibition in the Middle East and North Africa (Mena) region, at the Dubai International Convention and Exhibition Centre.
More than 900 companies from 32 countries are taking part in the show, which began yesterday and will run till January 8.
“ArabPlast not only offer a strategic platform for participants and visitors to explore ground-breaking solutions and cutting-edge technologies, but also serves as a medium to promote international alliances and sales,” said Dr Al Nuaimi.
Petrochemicals, components derived from oil and gas are used in all sorts of daily products including packaging, plastics, clothing, detergents, tyres and much more.
According to a study by International Energy Agency (IEA), petrochemicals are becoming the largest drivers of global oil demand, in front of cars, planes and trucks. It is noted that petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. They are also poised to consume an additional 56 billion cubic metres (bcm) of natural gas by 2030, and 83 bcm by 2050.
“Most economies rely on petrochemicals given how prevalent they are in everyday products. The Gulf has a high potential to grow, given the advancement surrounding the petrochemical industry,” said Satish Khanna, general manager, Al Fajer Information & Services, Dubai, organisers of ArabPlast 2019.
“Plastic and the petrochemical industry is driving new trends around the world, including a growing number of applications in various cutting-edge, clean technologies critical to sustainable energy systems. In the coming years, the industry is not just set for a robust growth, but will also be one of the leading sectors to drive the economy of the countries,” added Khanna.
In addition to the new products and innovations, another striking feature of the show was ‘Sophia’ the robot who not only interacted with the visitors, but also offered quick answers and solutions for any queries raised at the show.
On display at ArabPlast 2019 are new products and technologies and the show covers a wide spectrum of new and innovative products.