Nama Chemicals, which began operations in 1992, is based in Jubail and seeks to expand the use of petrochemicals not only within Saudi Arabia, but also around the world. It ranks among the top 100 businesses in the Kingdom.
Bolstered by five subsidiary companies, Nama’s main business deals with the production of the following products: calcium chloride, caustic soda, chlorine, epichlorohydrin, epoxy and hydrochloride acid.
With approximately a six percent share of the worldwide epoxy market, Nama is able to tap into a growing economic component. In 2014, that market had a collective value of $6.4 billion, with an estimated growth percentage listed at a glowing 7.5 percent each year until 2020.
By that time, the market value for epoxy is expected to reach nearly eight figures at $9.9 billion, although another projection is even rosier at $10.55 billion. Not surprisingly, one of the reasons for such numbers is the fact that China makes up much of the market and is always seeking to establish a connection with a key supplier.
Back in 2009, Nama suffered losses of $13.27 million due to the global economic downturn that especially hit the oil industry. However, the following year, the company was back on track after ending 2010 with a profit of $9.2 million.
On April 1, 2014, Nama saw its total volume of epoxy production double from 60,000 to 120,000 tons, thanks to an expansion of its Jubail plant. The three-year project had cost $116 million and had conducted trial runs six months before that production began.
Saudi Arabia is in the process of seeking to diversify its business portfolio so that it’s not so oil-dependent. That means that the petrochemical industry as a whole, and Nama Chemicals in particular, is poised to grow in the succeeding years and decades to come.