Promoting the role of innovation in the development of plastic conversion industry
Borouge, a leading provider of innovative, value creating plastics solutions, highlighted the role of innovation in supporting and improving the plastic conversion industry as a key factor in cementing the diversification of the national economy.
In his welcoming speech at the Gulf Petrochemicals and Chemicals Association’s (GPCA) Fifth International Conference for Plastic Conversion (PlastiCon) held in conjunction with the Plastivision Arabia 2014 Conference and Exhibition at Expo Centre Sharjah, Abdulaziz Alhajri, CEO of Abu Dhabi Polymers Company (Borouge) and Chairman of the GPCA Plastics Committee, pointed out that the petrochemical industries in the Gulf region is focusing on innovation, sustainability and value chain integration which will provide further opportunities of growth in the plastic conversion industries in the region.
“Innovation holds the key to the success and sustainability of the region’s plastics industry, not only in the solutions we provide, but also in the way we operate our facilities,” said Alhajri. “Our effort to innovate throughout the value chain enhances technology and operational excellence and significantly adds value to a variety of industry sectors including healthcare, infrastructure and packaging.”
“This commitment to innovation will establish the Gulf as a hub for plastics production and plastics conversion, thereby ensuring that we provide useful products that contribute to addressing global challenges such as climate change, ensuring food protection, accessing to clean drinking water and reliable energy and reducing the waste and encouraging recycling.”
According to a GPCA report, the annual production capacity of the Gulf plastic resins producers reached 24 million tonnes in 2012, and today, only 4.5 million tonnes are converted into finished and semi-finished industrial and consumer plastic products in this region. Resin production is expected to grow to 30 million tonnes by 2015. The growth will not only be in capacity but also in number of differentiated and speciality products that this region will be producing which is expected to double to around 23 products by 2017.
“Together the plastics producers and convertors should explore the practical benefits that can be gained from their proximity, leveraging the growing polymer competence in the region and partnering to develop world-class end-use applications and making “Made in the GCC” a mark of quality. Creating value through innovation is an essential ingredient for our mutual success on the global stage.”
Borouge was established in 1998 as a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Austria based Borealis, a leading provider of chemical and innovative plastics solutions. It is a groundbreaking international partnership at the forefront of the next generation of plastics innovation.