High construction activity, together with low feedstock and energy costs, mean that the MENA region is expected to have a 10% share of global petrochemical production in the next few years. Chemicals and plastics have the most planned industrial projects in the GCC, and are growing strongly.
The GCC chemical industry covers subsectors that include the manufacture of basic chemicals, fertilisers, nitrogen compounds, plastics and synthetic rubber in primary forms. There are also pesticides, paint, inks, soaps and cleaning products, perfumes and cosmetics, as well as synthetic fibres.
Within specialty chemicals, five segments have grown tremendously: construction chemicals, water treatment chemicals, polymer and plastic additives, paints and coating additives, and oil field chemicals. The vibrant plastics industry accounts for 11% of total manufacturing in the GCC and is expected to reach 18% by 2015.
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