By Dr. Akram Masri, Chief of Operations, Riyadh Exhibitions Company
As the global economy continues to evolve, businesses across the world are actively seeking opportunities to connect with key industry leaders and explore emerging markets. The Kingdom of Saudi Arabia is emerging as a hub for businesses to achieve these goals as the country transitions into a new economic era with a strong emphasis on diversification, technological innovation, and sustainability.
The IMF projects the country’s GDP to expand at an unprecedented rate of 7.6 percent, the highest globally, with a particular emphasis on sectors such as printing, packaging, plastics, petrochemicals, manufacturing, and logistics. These industries are crucial for the country’s economic progress, with the petrochemical and chemical sector alone contributing around 50 percent of the GDP and 10 percent of the global chemical trade.
As the country experiences rapid growth, the 18th Saudi Printing and Packaging and Plastics and Petrochemical Exhibition, the Middle East’s largest industrial sector gathering, presents a perfect opportunity to explore new partnerships and expand reach in the fastest-growing global economy. The exhibition, organized by the Riyadh Exhibitions Company and scheduled to take place in Riyadh in June, will facilitate businesses to connect with industry leaders, explore emerging markets, and showcase their latest products and services. It will also feature the International Future of Industry and Supply Chain Summit, the International Logistics and Material Handling Exhibition and Summit, and the International Industrial Automation and Retrofitting Exhibition and Summit.
The Exhibition reiterates the Kingdom’s commitment to advancing the Printing, Packaging, Plastics, and Petrochemical industries as one of the key components of national economic diversification. This will not only bolster the next generation of industries but also help achieve self-sufficiency, increase the contribution of non-oil GDP, and promote exports.
The Exhibition, along with its collocated industrial trade fairs, international summits, and technical workshops, also offers a unique platform to build brand awareness, establish new partnerships, and gain valuable insights into the latest trends and technologies shaping the industry. Attendees can also attend live demonstrations and participate in interactive sessions designed to showcase the latest trends and solutions in the printing, packaging, plastics, petrochemical, manufacturing, and logistics industries.
With Saudi Arabia responsible for more than 67 percent of the production of plastic resins in the GCC and being the largest consumer of polymers, accounting for 61 percent of GCC consumption, the Exhibition provides easy access to businesses seeking opportunities in the heart of the largest plastics and petrochemicals market in the Middle East. The Saudi Arabian plastic packaging market was valued at USD 8.59 billion in 2020, and it is projected to reach USD 11.93 billion by 2026, registering a CAGR of 5.6 percent during the period of 2021-2026. Similarly, the market for plastic components in Saudi Arabia is expected to grow at a CAGR of more than 3.5 percent during the 2021 to 2026 period.
At the event, businesses can also explore the biodegradable plastics segment, which is expected to grow in the coming years in the country following a new rule implemented by the SASO, the Saudi organization controlling standards, measurements, and quality of plastic products.
Meanwhile, the printing and packaging industry is set to experience substantial growth in the upcoming years, in line with the “Saudi Vision 2030” due to the rising demand for top-notch packaging and labeling solutions in various sectors. By 2024, paper and paper-based products in Saudi Arabia are expected to reach a value of $5.52 billion. Therefore, the Exhibition provides an exceptional chance to display the latest technological advancements and innovations in this industry, including smart packaging, which is expected to generate interest among attendees. Moreover, the exhibition offers a range of networking opportunities, including business matchmaking services, VIP lounges, and industry-focused conferences and seminars.
As the largest industrial sector gathering in the Middle East, the Exhibition promises to be an unmissable opportunity for businesses looking to expand their reach and discover new opportunities to grow and achieve success in the years ahead in the fastest-growing global economy.