Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
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The 12th edition of Paper Arabia, the international exhibition on the paper, tissue, paperboard and converting industry, will begin on Tuesday at the Dubai International Convention and Exhibition Centre.
With over 100 companies from 30 countries taking part, the show is making a comeback in the backdrop of post-Covid new investments and expansions in the GCC paper industry surging in excess of $1.6 billion in the last nearly two years.
“The paper industry in the Middle East has evolved over the years and it is now one of the world’s fastest-growing markets. The Covid pandemic had brought in disruptions and production bottlenecks throwing in unprecedented challenges for paper mills across the world, but it also helped mushroom new opportunities in paper packaging and paper disposables, further fuelled by an e-commerce boom,” said Nadhal Mohamed, general manager, Al Fajer Information & Services.
The demand for paper and pulp products in the Middle East and Africa market is being driven by the increased demand for green packaging solutions, and according to a research entity, Mordor Intelligence, the market is poised to touch $28.72 billion in the next five years, growing at a CAGR of 3.28 per cent.
“Consumer attitudes and preferences have changed, and in recent times, health and hygiene-conscious consumers have fuelled the market for paper packaging and disposables like tissues with per capita consumption of these products on the rise,” said Naveen Seth, assistant secretary, PHD Chamber of Commerce, India.
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