(MENAFN - Qatar News Agency) Total production of GCC fertilizers products is expected to reach nearly 32 million tons by 2016, compared to 21 million tons in 2011, Gulf Petrochemicals and Chemicals Association (GPCA) has stated.
Moreover, the Gulf is expected to account for 36% of global urea exports and 24% of the world trade in phosphate fertilizers by 2016.
"The Gulf is undergoing massive expansion of fertilizer capacity, with the region heading for an estimated 7.5% annual growth in production capacity by 2016. In response to this, companies are looking to develop long-term strategies to provide a framework for sustainable growth of the regional industry," said Dr. Abdulwahab Al Sadoun, Secretary General of the GPCA, which is due to hold its Third Annual GPCA Fertilizer Convention in Dubai from September 17-19, 2012 under the theme of " Converting sustainable development into value for Gulf fertilizer producers."
"The Third GPCA Fertilizer Convention will host a wide variety of distinguished international speakers representing producers and their stakeholders, providing for a stimulating debate on how such measured and sustainable development can be achieved," said Dr. Al Sadoun
He added that this year's theme will "address many of the issues facing the region as it increases its importance as a major fertilizer production hub."
But the global economic downturn and political and economic uncertainty in both the Arab world and Europe present significant near-term challenges to growth, he said.
The convention will address these and other critical industry questions, including the role of the Gulf fertilizer industry in meeting rapidly growing world food demand. The Food and Agriculture Organization claims food production will need to increase by 70% by 2050 in order to feed an extra 2.3 billion people.
The outlook for key emerging markets such as India, China, Africa and South America will also be assessed during the convention, alongside trends in global agriculture, together with their implications for the Middle East fertilizer sector.
Major industry organisations confirmed to present at the Third Annual Convention include The International Fertilizer Industry Association (IFA), SABIC , Ma'aden, Unilever, GPIC, CNCIC, EtherChem (Beijing), Alliance for a Green Revolution in Africa (AGRA), Stamicarbon, Iraq Geological Survey, and Nalco. CRU, the event co-organisers and analysts, will also present in-depth market insights at the convention.