Every 1mln ton of GCC-produced recycled plastic generate 1,500 jobs, $650mln in direct GDP: GPCA
Every 1mn ton of recycled plastic produced in the GCC can generate approximately 1,500 jobs and $650mn in direct GDP impact in the region, according to research estimates.
Innovation is a driving force behind value creation in the GCC plastic industry, contributing to sustainability, economic growth, and technological advancements, Gulf Petrochemicals and Chemicals Association (GPCA) said in a report.
Accelerating innovation plays a crucial role across product design, business models, and resource management, and can support efforts to achieving circular economy in the GCC. Continuous innovation in polymer production and conversion technologies has enabled the GCC region to maintain a competitive edge in the global market. This includes advancements in recycling technologies and the development of new, sustainable materials.
GPCA will explore the role of innovation in driving value creation and growth at the 14th GPCA Plastics Conference taking place in Riyadh, Saudi Arabia on April 20 and 21.
According to a study, advancements in chemical recycling technologies can reduce greenhouse gas emissions by up to 50% compared to traditional plastic production methods.
The 14th GPCA Plastics Conference will provide an ideal platform to spotlight innovations in plastics recycling and discuss the role of regulations in creating an enabling environment for growth.
Held under the theme: 'The next growth paradigm: value creation through innovation', the conference will open with a welcome address by Khalfan al-Muhairi, SVP Regional MEAE, Borouge and Vice-Chairman, Plastics Committee, GPCA, followed by a ministerial address outlining regional policy priorities.
Dr Abdulwahab al-Sadoun, Secretary General, GPCA, commented: 'In the pursuit of the next paradigm of plastics growth, fostering innovation and collaboration will be essential to address the sustainability challenges of our time, while meeting the demand for sustainable plastics and ensuring socio-economic growth.
'By fostering cutting-edge advancements and sustainable practices, we can enhance the plastics industry's position as a dynamic driver of economic growth and environmental stewardship. The 14th GPCA Plastics Conference will serve as a beacon for visionary leaders and innovators from across the region and the world to collaborate and redefine the future of plastics for generations to come.'
Ends
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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