What's Happening?
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and CEO of ADNOC, has been ranked first on the 2026 ICIS Top 40 Power Players list. This recognition follows his previous accolade
as ICIS CEO of the Year for 2025. Dr. Al Jaber is noted for his transformative impact on the global chemical industry, particularly through the creation of Borouge Group International and the acquisition of Covestro. These moves are part of a broader strategy to position Abu Dhabi as a leader in the global chemicals sector, with significant growth projected in worldwide chemical demand by 2050.
Why It's Important?
Dr. Al Jaber's leadership and strategic initiatives are set to significantly influence the global chemicals industry. The formation of Borouge Group International and the acquisition of Covestro are expected to create a powerhouse in global polyolefins, enhancing Abu Dhabi's status in the sector. This development is crucial as the industry anticipates a 70% growth in chemical demand by 2050. The strategic moves also highlight the importance of mergers and acquisitions in achieving industry leadership and underscore the role of innovation and ESG standards in shaping the future of the chemicals market.
