Link: Paper industry investments in Gulf valued at $3.9bn
(Qatar, Feb. 20, 2017) The Gulf Organization for Industrial Consulting (GOIC) announced in a report that the cumulative investments in the paper products manufacture reached approximately $3.9bn in 2015, compared to about $2.6bn in 2010, an increase of approximately 49 percent and a CAGR (compound annual growth rate)of 8.3 percent during this period.
Saudi Arabia was ranked first, with cumulative investments reaching more than $3bn or 77.5 percent of the total investments in the GCC paper products industry in 2015. The UAE was ranked second with a share of 14.2 percent, followed by Kuwait (4.6 percent), Oman (2 percent) and then Qatar and Bahrain with smaller percentages.
The report of GOIC’s Gulf Industrial Knowledge Centre (GIKC) revealed that there has been an increase in the number of factories operating in the area of paper industries in the GCC. In fact, there was 459 factories in 2015 compared to 346 in 2010, an increase of approximately 32.7 percent reflecting the surging demand for these products. According to the report, investments in pulp and paperboard doubled between 2010 and 2015, and the manufacture of corrugated paper, containers made of paper or paperboard increased by about 58 percent during the same period of time.
In terms of geographic distribution of factories operating in the field of paper and paperboard products, Saudi Arabia was ranked first with 206 factories forming approximately 44.9 percent of the total factories operating in this field in the GCC, followed by the UAE with 166 factories (36.2 percent) and Bahrain ranked third with 26 factories (5.7 percent).
GOIC’s report underlined the growing labour force in the field of paper and paperboard industries from 30247 workers in 2010 to 45472 workers in 2015, an increase of about 50 percent with a CAGR of 8.5 percent.
To read complete report Go To: Paper industry investments in Gulf valued at $3.9bn: GOIC (Source: The Peninsula)