The Gulf Petrochemicals and Chemicals Association (GPCA) is set to host over 2,000 regional and international chemical industry leaders during its Annual Forum, opening in Dubai tomorrow. Now in its 9th edition, the conference keynote will be delivered by His Excellency Dr. Mohammed Saleh Abdulla Al- Sada, Minister of Energy and Industry of Qatar. Other speakers include Mohamed al-Mady, Chairman of GPCA and Vice Chairman and CEO of Sabic, who will deliver the opening address followed by speeches from Khalid Al-Falih, CEO of Saudi Aramco, and Andrew Liveris, Chairman, President & CEO of Dow Chemical Company.
“Local and global leaders are sitting up and taking notice of the GCC’s petrochemicals industry as 2013 marked another year with growth in size, capacity and reach,” said Dr. Abdulwahab Al- Sadoun, Secretary General, GPCA. “The participation of speakers like His Excellency Dr. Al-Sada, as well as influencers from every facet of the energy industry, is proof that the contributions of the petrochemicals sector have far reaching results.”
According to the latest data from the GPCA’s Facts and Figures Report, the region’s petrochemical industry generated sales revenues of $US89.4 billion in 2013 a 9.4% increase from the previous year. Capacity for the industry grew by 8.7% in the same period, reaching 140.5 million tons in 2013.
While forecasts for future growth are positive, analysts have also predicted that the emergence of low cost hydrocarbons in the United States may drive competition between chemical producers from North America and the GCC, for markets in Europe and Asia.
“As an industry, we must be responsive to ever changing markets which is why innovation is key,” explained Dr. Sadoun. “It ensures that we are flexible and reactive to global market conditions. The first step of this evolution is dialogue between key stakeholders, which is what we hope to foster at the Annual Forum.”
Introduced in 2006, the Annual Forum is the GPCA’s flagship event. Last year’s conference hosted 1,900 international industry executives from 40 countries.
Held on the theme of “Innovation: The Strategic Direction of the Chemical Industry – What’s Next?” the ninth Annual Forum will be held from November 23- 25 in Dubai. For more information, please visit www.gpcaforum.net
Gulf Petrochemicals and Chemicals Association
P. O. Box 123055,
United Arab Emirates
T: + 9714 451 0666 – Ext 116
E: [email protected]