Kuwait’s “Political News†reported on April 8th: According to the latest special research by Dr. Semil, the manager of OPEC’s technical department, the Middle East region will vigorously develop the petrochemical industry due to its abundant natural resources. In the next three years, the region’s petrochemical industry It will account for 50% of the world. This phenomenon will make its original products such as natural gas and petroleum derivatives more competitive.
The doctor pointed out that countries in the Middle East are striving to achieve their national strategic goals, including diversification and stabilization of future oil export revenues, optimizing resource investment, adopting new technologies, and improving the skills of local employees. It also links all infrastructure construction with the oil industry and extensively develops secondary industries, seeking alternative synthetic materials for traditional materials such as wood, cotton, rubber, metals, and scarce materials in Arab countries.
The Arab countries’ petrochemical production is concentrated in 13 countries, Saudi Arabia, which accounts for 60% of Arab countries’ production capacity; followed by Libya, accounting for 11%; Qatar, 7%; Kuwait, 6.8%; and Egypt, 5.5%; Algeria 4.4%; Iraq 2.9%; Bahrain 2%; the rest of the production capacity distribution for the UAE, Oman, Morocco, Syria and Jordan.
The petrochemical industry is regarded as one of the most important pillars of the international economy and future industries. It is an integral part of modern manufacturing. The petrochemical industry has huge investment and advanced technology requirements, and its raw materials mainly rely on natural gas and petroleum derivatives. The petrochemical industry involves a variety of products such as paints, rubbers, plastics, detergents, dyes, fertilizers, pesticides, textiles, solvents, pharmaceuticals and make-up and beauty products.
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