PODCAST: Gulf petrochemicals special focus with GPCA secretary general Dr. Abdulwahab Al-Sadoun

Author: Will Beacham

2021/02/16

BARCELONA (ICIS)--Arabian Gulf petrochemical companies are committed to pursuing a low carbon future while battling the impact of the coronavirus pandemic and increasing self-sufficiency in China, according to the Gulf Petrochemical Association (GPCA).

  • Transition to a low carbon future presents opportunities for Gulf Cooperation (GCC) chemicals
  • Region is committed to boost recycling plus new, greener technologies
  • GCC chemicals managed to grow volumes in 2020, despite the pandemic
  • But 2020 sales projected to fall 20-24% to around $52bn
  • Supply chain disruption in Q1, Q2 as China closed ports
  • GCC trading volumes fell 9.2% in 2020, global chemical trade fell 20%
  • $72bn in planned projects due to be commissioned 2020-2024
  • Planned projects may be delayed until chemical demand completely recovers
  • Chemical volumes, sales expected to rebound in 2021
  • Packaging expected to perform strongly
  • China will become more self-sufficient in paraxylene (PX), ethylene glycol (EG), styrene and polypropylene (PP)

Podcast interview with GPCA secretary general Dr. Abdulwahab Al-SadounJohn Richardson – senior consultant, Asia, ICIS; Nigel Davis – ICIS Insight Editor; and Paul Hodges – chairman, New Normal Consulting.

Interview by Will Beacham

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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