Saudi Arabia has consolidated its position as a key producer of petrochemicals according to a recent report. The Kingdom produced 17 million tonnes of ethylene in 2016, the third largest amount in the world, behind lead producers the US and China.
The Kingdom earned $17 billion from the sale of ethylene in 2016, helping it to ease its reliance on unrefined crude exports during the current period of low oil prices.
SABIC's Petrokemya in Jubail ranked fourth in the list of the 10 largest ethylene complexes in the world, with 2.250 million tons per year, while SABIC's Yanbu Petrochemical Company (Yanpet) remained in the tenth place with 1.705 million tons.
Saudi Aramco has set itself the challenge of being the world’s largest producer of chemicals and petrochemicals.
The recent opening of the $20 billion Sadara petrochemical complex bodes well for KSA’s future activities in the chemical production market, boasting 26 complexes producing a range of commodity and specialty petrochemicals.