Mid-East PE exports to surge by 2010 - EQUATE

16 April 2007 07:51  [Source: ICIS news]

By Prema Viswanathan

SHANGHAI (ICIS news)--The Middle East share of global polyethylene (PE) exports would increase significantly by 2010 as new capacities come on stream, an industry official said on Monday.

Middle East exports of high density polyethylene (HDPE) would surge to 90% of global exports, up from 85% in 2005, Vincent Ng, Asia Pacific director of EQUATE Marketing Co, said.

Ng was making a presentation on behalf of Hamad Al Terkait, president and CEO of EQUATE Petrochemical Co, at the 3rd ICIS Asian Polymers conference in Shanghai.

Exports of low density PE (LDPE) from the Middle East, would rise to 40% of global exports, from 30% in the same period, Ng said. A major share of these exports would be directed at China, he added.

Supply of PE in the Middle East is expected to touch 10.1m tonnes/year in 2008, 15% of the global supply of 65.3m tonnes/year.  Middle East supply of PE in 2005 was 7.5m tonnes/year, representing 14.5% of global supply of 52.1m tonnes/year.

Global PE demand was forecast to increase to 77m tonnes/year in 2008, up from 65m tonnes/year in 2005.

The conference started on Monday and ends on Tuesday.

By: Prema Viswanathan
+65 6780 4359

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