The GCC plastic conversion industry is gaining momentum as the region looks to further diversify downstream in the hydrocarbon value chain. To shed light on the topic, GPCA has released a new report for members entitled ‘The Plastic Conversion Opportunity in the GCC: Moulding a Sustainable Future Towards a Plastics Circular Economy’. According to the report, the GCC industrial development is at a turning point as governments seek to diversify economies to meet the aspirations of future generations. Much of the efforts across the region are focused on creating and capturing value from product exports and stimulating the development of downstream industries, including the plastic conversion industry. Key enablers for the development of the sector in the region include workforce availability, technology acquisitions, acquisitions of polymer converters, government support and policies, and joint ventures with polymer converters among others. Offering a comprehensive view into the profile of the GCC polymer industry as well as the plastic conversion industry, the report highlights the challenges in developing the GCC plastic conversion sector alongside the necessary steps for its success. A must read for investors and market players of all size, it concludes by focusing on the opportunities to build a circular economy and its relationship with plastic conversion.
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