According to the latest report from Gulf Petrochemical and Chemical Association, the total output of petrochemical products of the Gulf Cooperation Council (GCC) countries in 2011 was nearly 111.6 million tons, an increase of 13.5% compared with 2010.
The report believes that 2011 was a year of recovery and consolidation of the petrochemical market since the 2008 international financial crisis, and both petrochemical industry sales and profit growth have reached the highest levels in history. Statistics show that the petrochemical products of the GCC countries have sales of nearly 100 billion U.S. dollars, of which Saudi Arabia accounted for more than half. Saudi Basic Industries (Sabic)’s corporate earnings in 2011 totaled US$50.64 billion and net profit of US$7.8 billion.
Industry analysts believe that although the outlook for Europe’s economic outlook and overseas markets is still unclear, the prospects for the development of the petrochemical industry this year are very optimistic given the increasing attention to technology, innovation and long-term cooperation in the industry. At the same time, continued investment and new projects that have been introduced have also demonstrated the global dominance of the Gulf countries in the petrochemical sector.
The report also pointed out that the number of new projects signed by Saudi Arabia in terms of downstream petrochemical facilities is on an upward trend, which means Saudi Arabia's downstream petrochemical industry will usher in prosperity and development in the next few years.
Weathering steel, i.e. atmospheric corrosion-resistant steel(Corten Steel), is a series of low-alloy steel between ordinary steel and stainless steel. Weathering steel is made of ordinary carbon steel with a small amount of corrosion-resistant elements such as copper and nickel. It has the characteristics of toughness, plasticity, forming, welding and cutting, abrasion, high temperature and fatigue resistance of high-quality steel. The weathering resistance is 2-8 times of ordinary carbon steel and the coating performance is 1.5-10 times of ordinary carbon steel. At the same time, it has the characteristics of rust resistance, corrosion resistance, life extension, thinning and consumption reduction, labor saving and energy saving. Weathering steel is mainly used in railway, vehicle, bridge, tower, photovoltaic, high-speed engineering and other steel structures exposed to the atmosphere for a long time. It is used to manufacture containers, railway vehicles, oil derricks, seaport buildings, oil production platforms and containers containing hydrogen sulfide corrosive medium in chemical and petroleum equipme.
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