5-fold increase in GCC chemistry patents

|By Arabian Post Staff| Patent grants from the GCC in chemistry have seen a five-fold increase in the last decade, according to the World Intellectual Property Organization (WIPO). Producing up to USD102.6 billion worth of products a year, petrochemical industry is a main generator of patents from Gulf region along IT and electronics.

“The petrochemical industry in the Gulf is of global standards where there is an active research and development machine driving this lucrative industry to be more innovative and globally competitive, says Satish Khanna, General Manager, Al Fajer Information and Services, while announcing developments of ArabPlast, the world’s leading plastics and petrochemical show, which is set to hold its 13th edition from 8 – 10 January 2017 at the Dubai International Exhibition and Convention Centre spread over nine Halls.

“Innovation will be a key topic at our bi-annual plastics and petrochemical event that is considered one of the biggest three plastics shows in the world. The specialised show will provide updates into petrochemical industry, and will witness the largest participation in its history, with expectations of display of high end machineries from Asia and Europe,” he added.

Petrochemicals industry remains one of three industries where patent applications filings are concentrated in. Other sectors are information technology and pharmaceuticals.