This market study segments the cement market by GCC countries and includes regions like Saudi Arabia, UAE, Kuwait, Qatar, Oman, and Bahrain. The report also includes an analysis of the key trends, drivers, and vendors in this market, including Gulf Cement, Kuwait Cement Company, Lafarge, Oman Cement Company, Qatar National Cement, and Saudi Cement Company.
Technavio has released its new market research report, cement market in GCC, which is expected to grow at a CAGR of more than 6% between 2015 and 2019. The rise in population, increase in tourists, demand for affordable houses, and the development of new cities are some of the factors that are expected to propel market growth during the forecast period.
“One of the latest trends gaining traction in the market is the construction of new cement production facilities. To keep up with the augmented demand for construction materials, new cement production facilities are being built in and around the GCC. This recent rise in demand for cement is being driven by an increase in construction projects across the GCC and is leading to the establishment of new cement plants during the forecast period,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Growing investments in the transportation sector is the major driving factor for the growth of this market. Due to the recent increase in tourism, the government in this region is planning to invest heavily in the public transit system. Consequently, the construction of new railway networks, seaports, and airports is expected to spur the demand for cement in this region during the forecast period.
The key vendors in the cement market in GCC include Gulf Cement, Kuwait Cement Company, Lafarge, Oman Cement Company, Qatar National Cement, and Saudi Cement Company. Since the cement market is an integral part of the construction segment, growth in this sector will result in the growth of the cement market during the forecast period. This market is dominated by large vendors like Gulf Cement and Kuwait Cement and is characterized by intense competition among the established pure players.
A more detailed analysis is available in the Technavio report, Cement Market in GCC 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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