GCC chemical industry must plan and prepare for post-COVID period: GPCA – Saudi Gazette

  • Date: 14-Jun-2020
  • Source: Saudi Gazette
  • Sector:Industrial
  • Country:GCC
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GCC chemical industry must plan and prepare for post-COVID period: GPCA – Saudi Gazette

According to the paper, the pandemic is revealing flaws in the supply chain that the chemical industry has relied upon for decades, which presents an invaluable opportunity to address existing weaknesses and transform the region's supply chain.. Like the chemical industry globally, the GCC petrochemical sector has felt the strain from the COVID-19 pandemic in the form of plunging petrochemical prices, disruptions on the Chinese market, travel and export restrictions, as well as collapsing demand due to a slowdown in key end-user industries.. The COVID-19 crisis has amplified the importance to diversify regional economies and focus on value-added chemicals that can not only play a key role in providing unique solutions in healthcare, but help insulate the region from future oil price shocks.". Green hydrogen can help drive job recovery out of COVID-19 recession.