Middle East plastic industry to show 30% annual growth
22 July 2008
More than 550 exhibitors from 31 countries are expected to gather at the Cairo Fair Ground, Egypt, from October 23-26, 2008, to take part in Plastex 2008, the 11th international African-Arabian exhibition for plastic industries. In addition, some 24,000 trade visitors from 18 countries are estimated to visit the four-day exhibition.
Middle East plastic industry expected to record 30% annual growth over next five years
Plastex 2008 is a leading trade fair dedicated to the plastic machinery, components, raw materials and chemicals industry, and represents products, services, technologies, innovations and trends for trade markets.
The exhibition serves as an essential platform for established and new players in the plastic industry to capitalise on the ever-increasing opportunities in the Middle East and African markets. According to latest statistics, the Middle East plastic industry is expected to record an annual growth of 30 per cent over the next five years, which is regarded as the fastest rate of growth in the world.
The 10th edition of Plastex held in March 2007 witnessed a 30% increase in exhibition space, and 15% increase in the number of visitors, with a new record in business deals, which were valued at €230 million. It is expected that the exhibition – held every 18 months - will maintain its growth rate in the 2008 edition as well, as it provides an exclusive platform for international companies from the plastics industry.
The second Egyptian Exhibition for Plastic Exporters & Manufacturers – EgyPlast, organised by the Egyptian Plastic Exporters and Manufacturers Association (EPEMA), will be held concurrently with Plastex 2008. The first edition of Egyplast held on the sidelines of Plastex 07 proved to be a major success as it provided an ideal opportunity for product manufacturers and exporters to meet with machinery and equipment manufacturers, in addition to plastic industry professionals.
Hamed Mousa, President of Plastics Division, Federation of Egyptian Industries, said, “The plastics industry in Egypt is growing steadily and becoming increasingly modernised. There are substantial opportunities for foreign manufacturers to start or expand their business in Egypt. According to 2005/2006 figures, there are 1,276 factories in Egypt with a total market volume of $4.03 billion and total investments reaching about $4 billion. Moreover, Egypt consumes plastic materials worth nearly $1.6 billion annually with the demand expected to increase 10% yearly. The Egyptian plastic industry has shown a trend recently to export end products to various countries of the region; this is due to the products compliance with the highest international standards of quality control, in addition to their relatively low prices compared to products from other countries in East Asia and Europe. This is clearly evident by the tremendous success achieved by EgyPlast 2007, where business deals worth €84.9 billion were finalised.