The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
The UAE's diversification of feedstock with mixed-feed cracker capacity should support competitiveness at
a time when external markets are affected by a surge in exports from Saudi Arabia and Iran and diminished
import growth in China. Polymer margins have held up in spite of the pressures, but in H116 the UAE faced
lower petrochemical product prices, while at the same time its chief rivals are in a better cost position with
more competitively priced feedstock.
A higher level of naphtha use in the UAE's petrochemicals industry should enable it to benefit from low
crude oil prices, polymer product prices have been falling faster than feedstock costs. The situation is a
result of unfavourable trends in export markets, notably in Asia. The expansion of the Borouge facility in
Abu Dhabi has merely exacerbated the oversupply situation.
However, on the upside, the Borouge plant overcame technical problems and feedstock disruption that
plagued the complex in H116 and by mid-2016 was operating at full capacity. In addition, a 70,000tpa
XLPE plant, the final part of the Borouge 3 complex, was set to start up in mid-2016. XLPE has high
temperature resistance and is used in plumbing and heating pipes and systems.