gcc fertiliser production capacity surges by 12 in 2017
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

GCC fertiliser production capacity surges by 12% in 2017

Arab Today, arab today

Arab Today, arab today GCC fertiliser production capacity surges by 12% in 2017

GCC fertiliser production capacity surges by 12% in 2017
Abu Dhabi - Arab Today

The fertiliser production capacity in the Gulf Cooperation Council (GCC) region has reached 42.3 million tonnes per annum in 2017, increasing by 12 per cent over the previous year, according to a new report of the Gulf Petrochemicals and Chemicals Association (GPCA).

According to the report entitled, '2016 GCC Fertiliser Industry Indicators', the industry expanded at the highest annual growth rate since 2011, and further outpaced the overall annual growth of 8 percent per annum over the past decade. The capacity additions in 2017 were mainly driven by Saudi Arabia, the largest fertiliser producer in the region, with projects such as Waad Al Shamal, a $7 billion joint venture between Ma’aden, SABIC and Mosaic.

In 2016, the GCC fertiliser industry generated $5.2 billion in sales revenue, with plans to invest $8 billion in new projects over the coming years. By 2025, the regional capacity is expected to reach 49.8 million tonnes, growing at a steady rate of 2 percent per annum. Of the additional 7.4 million tonnes of fertiliser capacity to be added between now and 2025, 95 percent will come from Saudi Arabia, increasing the country’s share in regional fertiliser production to 58 percent, up from the current 51 percent.

GCC fertiliser exports have also been growing at 7.3 percent per annum over the last decade. These exports account for about a third of the export volume of chemicals, with 90 percent sold in the international markets.

The growth in fertiliser exports has a significant multiplier effect throughout the local economy, generating an estimated $6.7 billion from supporting indirect economic activity in the region, including support services, packaging, warehousing and distribution.

The GCC fertiliser industry has also contributed to the growth of non-oil exports, expanding the sales in international markets. The economic growth in emerging economies has been an important driver of this expansion. In 2016, GCC retained its position as the world’s largest urea exporter, with a global market share of 32 percent, and the second largest exporter of diammonium phosphate (DAP), with a share of 14 percent.

Dr. Abdulwahab Al-Sadoun, Secretary-General, GPCA, remarked, "Much like any other fertiliser producing region globally, the GCC fertiliser industry’s sales revenue has been affected by an overall decline in the commodity markets, dropping by an estimated 21 percent from the year before. Nonetheless, the industry has remained resilient, despite the volatility in the global markets, continuing to expand with a commitment to long-term projects, growing export volumes and significant investment in niche, high-value and environment-friendly fertiliser products. Furthermore, the contribution of the fertiliser industry to the regional progress goes much beyond the financial growth, playing an important role in supporting food security and job creation."

Employing around 54,900 people, directly and indirectly, nationals account for 54 percent of the industry’s workforce. Over the past decade, direct job creation grew by a compound annual growth rate (CAGR) of 8.7 percent per annum, while the chemical industry grew at an overall average rate of 6 percent per annum.

The '2016 GCC Fertiliser Industry Indicators' report will be released at the 8th edition of the GPCA Fertiliser Convention, taking place between 26th and 28th September at the Ritz Carlton, Bahrain.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gcc fertiliser production capacity surges by 12 in 2017 gcc fertiliser production capacity surges by 12 in 2017

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gcc fertiliser production capacity surges by 12 in 2017 gcc fertiliser production capacity surges by 12 in 2017

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday