The petrochemical sector in the six GCC countries is considered one of the largest non-oil productive sectors and ranks second in the Gulf economies. The petrochemical sector is one of the most important industrial manufacturing activities and a major source of petrochemical industries in the world. To rely on this vital sector.
In the past few years, the petrochemical industry in the GCC has witnessed a strong renaissance that has strengthened its position as a major supplier in the world. The petrochemical industry in the Gulf is one of the most important industrial manufacturing activities. It absorbs about 59.6% The total amount invested in these industries, equivalent to 220.3 billion dollars, the number of companies operating in this sector 3184 companies, employing about 271 thousand employees and workers.
The Gulf region has emerged as a global petrochemical hub with GCC countries enjoying significant energy advantages. These countries hold about a third of proven global oil reserves and one quarter of proven natural gas reserves in the world. Over the past few decades has grown steadily and steadily, with a compound annual growth rate of 12% over the past 10 years.
The GCC chemical industry accounts for 2.9% of GDP and has a revenue of US $ 97.3 billion.
The industry employs more than 148,700 people directly, and each job directly leads to the creation of three additional jobs in related industries.
The GCC petrochemicals sector posted revenues of about $ 75 billion in 2012, down from $ 81.7 billion reached in 2011. For example, the region produced more than 120 million tonnes of petrochemicals in 2013.
According to reports from the Gulf Petrochemicals and Chemicals Union (GIPCA), the increase in GCC investments in the sector from 2012 to 2016 ranges from $ 35 to $ 38 billion. The petrochemical sector’s contribution to the GCC GDP is about 10.6%.
– Petrochemical Industries
The petrochemical industry in the GCC includes the following industries: fertilizer industry, nitrogen compounds, pesticide industry, detergent and cosmetics industry, chemical industry industry, fiber industry and industrial yarns, pharmaceutical industry, tire industry and rubber products, sheet and plate industry, pipe and hose industry , Manufacturing of building materials, manufacturing of packaging products, manufacture of fiberglass products, recycling industry and industrial marble, manufacture of other plastic products