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Kuwait is a country blessed with abundant Oil resources. The Government of Kuwait has given thrust to sectors such as Petrochemicals, which can make use of the cheap feedstock available. Petrochemicals sector has been developed as part of the export diversification strategy of the Kuwait government. Kuwait has made persistent efforts to improve and enhance its Petrochemicals sector at par with the regional players in GCC. Kuwait Government is implementing a “Strategy 2002-2020” for the development of Petrochemicals sector in the country.
In this report, we have analyzed the opportunities for the Kuwait Petrochemical sector in the form of upcoming Joint ventures, increasing synergies for Petrochemical and refining integration and the cost advantage enjoyed by the Kuwait Petrochemical companies. The report also covers the government policies and initiatives which impact the functioning of the Petrochemicals sector in the country. The report discusses in detail the challenges faced in the form of volatility in prices of feedstock and increasing competition within the Petrochemical players in the GCC region. The report analyzes the opportunities available for the sector, which is mainly driven by the increasing demand from the Asian countries for Petrochemicals and products like paints, plastics and Polymers.