AD Ports Group's Industrial Cities and Free Zones Cluster is now the operations base for 95 polymer companies, in line with the rising demand for the industrial material, the operator of industrial cities and free zones in Abu Dhabi said.
The companies occupy an area of 3,454,457 square metres at the cluster, reflecting the accelerated development of a robust national polymer sector.
AD Ports is continuously working with its partners to accelerate investment and innovation in the region’s plastics downstream industry, which, in turn, will contribute to the national economy, the cluster's head, Abdullah Al Hameli, said on Tuesday.
"By addressing the needs of companies operating in the polymer sector, we are contributing to Abu Dhabi’s transformation into a major global hub for polymers conversion, as well as the nation’s industrial diversification efforts," he said.
Polymer is a chemical compound used in a wide range of applications, from those in household goods and clothes and the construction sector, with examples including plastics, resin and rubber.
The global market for the material is expected to reach $616.82 billion by 2028 from $439.28bn in 2021, growing at a compound annual rate of 5 per cent for the period. The growth will be supported by an increase in polymers' application across sectors, including fast-moving consumer goods, food and beverage, pharmaceuticals and agriculture, according to Fortune Business Insights data.
AD Ports' subsidiaries, ZonesCorp and Khalifa Industrial Zone Abu Dhabi, are the regional base for some of the biggest companies in the plastics and polymer sector.
Kizad's Polymers Park was specifically designed for the global plastic and polymers industry and has evolved significantly since its launch in 2019, serving as a catalyst to propel the polymers downstream sector in the UAE, said Mohamed Al Khadar Al Ahmed, chief executive of ZonesCorp.
“Our collaboration with stakeholders from across the value chain reflects our ambitious plans to become a hub for the global polymers sector by 2025 and contribute tremendously to the region’s GDP and job creation," he added.
Total investment at the cluster is estimated at more than Dh140bn, according to Statistics Centre Abu Dhabi.
Last week, AD Ports signed an agreement with China's Shandong Port Group to establish the region's first tyre storage and distribution centre, a move that will also strengthen the capital's push for a diversified economy. The 150,000 square metre facility will be built at Kizad.
It is also exploring partnership opportunities in regional and international markets.
