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Global Plastics And Rubber Industry Continued To Achieve Annual Growth Rates Of Between 4 - 5 Percent


Figures released by Plastics Europe showed that the near and Middle East together with Africa accounted for 7.1 per cent of the total global plastics production. The global plastics and rubber industry has continued to achieve annual growth rates of between 4 per cent and 5 per cent since the turn of the millennium, with the Middle East witnessing phenomenal expansion in its polymerisation capacities along with the Asia-Pacific region.

UAE’s local plastics, petrochemicals and rubber industry predicted to grow 5-6 per cent on average over next decade.

The announcement was made in the UAE where the local plastics, petrochemicals and rubber industry is forecasted to expand an average rate of about 5-6 per cent over the next decade.

Petra Cullmann, Global Portfolio Director Plastics & Rubber, Messe Düsseldorf GmbH, said: “Dubai, in particular, is a major player in the GCC’s plastics and rubber industry, making the emirate a strategic venue for us to announce the trade fair and tackle prospective growth prospects for the regional industry players.

Humankind is facing significant global challenges ranging from climate change to digitisation, which need to be addressed by human expertise and intelligence.

There has been an immense growth prospects in rubber in spite of the fact that this segment is small compared to other segments of the plastics industry.

Source : newzmart