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Arabian Gulf region will become the world's largest producer and exporter of petrochemicals and |
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plastics by the next few years according to industry experts. |
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Annual export of petrochemical products from Arabian Gulf Countries crosses 30 million metric |
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tonne mark. |
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The region plays a key role in the global plastics industry, supplying almost 80% of all crude oil |
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worldwide. The plastics sector is developing rapidly with the constant increase in the number of plastic and rubber companies in the region. |
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The demand generated from the booming construction and engineering projects is expected to |
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trigger an estimated annual growth of over 30% in the UAE plastic and rubber industry alone. |
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Middle East share in the global ethylene market is expected to grow to 17% in 2010 from 9% in |
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2004, accounting for 40% of new capacity. |
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The U.A.E.'s number of plastic & rubber companies has doubled during the last 5 years with |
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currently over 2000 companies in operation. |
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The regions exports of propylene-based products are expected to triple from 450,000 tons to 1.5 |
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million tons in 2006. |
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High demand for plastics recycling and plastic finish products across the region. |
