Middle East Presents Growth Opportunities for Chemical Industry
DUBAI – Sometimes, healthy competition is good. For the Middle East refining and petrochemical industry, a changing global feedstock mix and increasing competition in the United States, driven by the availability of cheaper gas feedstock, is reinforcing previous decisions by Middle East petrochemical producers to continue investing in new technology. The industry is also diversifying its feedback mix and expanding its product slates to include more higher-value intermediates.
These trends, among others, in the Middle East’s fast-growing chemical industry are part of the latest analysis by IHS Inc. Results of the analysis were discussed at length at the IHS Forums in Dubai at the end of April.