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Petrochemicals and chemicals in the GCC

The Arabian Gulf region has emerged as a global hub for the production of chemicals and petrochemicals. Over the last few decades, the regional industry has been on a consistent and exponential expansion drive, growing at an average CAGR of 12%.

The GCC Chemicals Industry is the second largest manufacturing sector in the GCC representing 2.9% of the GCC GDP and produces a worth of 97.3 billion USD. The industry directly employs more than 138,700 people, with every job indirectly creating three additional jobs in related industries.

The key to continuous growth in the petrochemicals industry is the availability of, and access to, natural gas feedstock and refinery petrochemicals integration. The GCC enjoys significant energy advantages; nearly one-third of the world’s oil and quarter of world’s natural gas reserves are found in the region.

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