Key Highlights: Arthur D. Little's Hector Casas underscores Saudi Arabia's petrochemical ability is slated to more than double in the next half decade—from 75 million tons to over 140 million tons annually. This amplification is part of the Kingdom's strategy to strengthen its footprint in the international petchem marketplace, leveraging cost advantages from competitive energy costs. Oliver Wyman's Nadim Haddad notes Saudi Arabia's movement towards procuring global petchem assets to reinforce its leadership in the sector. This aligns with the broader trend of international expansion, adding value to KSA's position as an industry pioneer. Amplification endeavors include not just basic petrochemicals but also high-specialty products, which add more worth to the oil molecule. The Kingdom is focusing on producing advanced materials to meet escalating demand in both emerging and established markets. The formation of SABIC in 1976 marked a turning point, leveraging natural gas resources to diversify into petrochemicals. SABIC's vertical integration strategy allows the manufacturing of a wide range of cost-competitive petchem products, contributing to KSA's leadership in the sector.
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Saudi Arabia's petrochemical sector is gaining momentum through strategic investments aligned with Vision 2030—a topic I recently explored in an interview with Arab News. As the energy landscape transitions, the demand for oil as a fuel may begin to wane, yet the need for petrochemical-derived products such as plastics and synthetic fibers is on the rise. Saudi Arabia is keenly aware of this paradigm shift and recognizes that its abundant oil reserves could be underutilized if current demand trends persist. The petrochemical industry has become a linchpin in the Kingdom's industrial strategy, playing a crucial role in realizing Vision 2030. Leveraging its access to competitively priced energy and feedstock, Saudi Arabia is poised to expand its petrochemical operations, thereby cementing its status as a global powerhouse in the industry. This strategic move not only enhances its competitiveness but also ensures the valuable utilization of its vast oil reserves. https://lnkd.in/gx9aMtC7
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
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The Increasing Necessity to Reach a Low Carbon Economy, New Technologies Capable to Destroy Demand, and a New Mobility Profile Post COVID-19 Pandemic Creates a Hostile Scenario to Fossil Transportion Fuels. This Fact Added to a Growing Demand by Petrochemicals has been Lead Some Forecasts to Indicate that the Petrochemicals will Overtake the Transportation Fuels as Main Driver of Crude Oil Demand in Short Term. Considering 2022 as the base year, the petrochemical market size reached a total value of USD 523,56 billion with an expected compound annual growth rate (CAGR) of 5,4 % between 2022 and 2030, analyzing only the BTX Market, the market can reach a total value of USD 11,25 billion in 2032 under a compound annual growth rate (CAGR) of 4,6 % between 2023 to 2032. Under this Scenario, the Most Integrated Players of the Downstream Industry Can Enjoy a Significant Competitive Advantage in the Market, and Some Players have been done High Capital Investments in Crude to Chemicals Refining Assets as Recetly Announced by SATORP Company (A Joint Venture between Aramco and Total Energy Companies) in the Amiral Petrochemical Complex which will integrate with Jubail Refinery with a total Investment of USS 11 billion Dollars. I'm really happy and honored to publish this article in the April 2024 issue of The Catalyst Review Magazine, this was the second of a series of two articles where we present a description of how the petrochemicals seems to be the way to follow in the downstream industry aiming to ensure higher circularity and longevity potential to the downstream business... #refining #crudetochemicals #catalystgrp
