Gulf Petrochemicals and Chemicals Association, Dubai, United Arab Emirates
Business Trends: A 2024 and beyond outlook for the GCC chemical industry
AI
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/ Construction
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/ Hydrogen
/ Petrochemicals
/ Polymers
/ Process Optimization
/ Olefins
/ Middle East
The global chemical industry faced a challenging year in 2023. Various factors contributed to sluggish demand growth for chemicals globally, including the European recession, U.S. inflation and a lower-than-expected chemical demand rebound in China. These factors resulted in global chemical market growth of < 1% in 2023, with many producers experiencing lower output.
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Construction Boxscore: Project Spotlight
Project:
Long Son Petrochemicals Complex
Location:
Long Son, Vietnam
Operator:
Siam Cement Group
Cost:
$5.4 B
Capacity:
1.65 MMtpy
Completion date:
2023
Status:
Under Construction
