Demand for residential buildings has increased as the population has surged. This has further increased the demand for cement around the world along with Qatar and other regions. According to a research study conducted by Future Market Insights on the Qatar cement market, demand for cement is expected to reach a valuation of US$ 1,550.9 million by 2032.
Expansion of the construction industry has a direct impact on the cement industry as cement is one of the essential elements for the construction industry. Cement plays a vital role in the building and construction industry.
Rising demand for residential and commercial buildings owing to increasing population and urbanization will boost the Qatar cement market. Civic infrastructure and tourism infrastructure are also expected to add positive elements to the cement industry.
Cement is a commonly utilized construction material that is vital to the industry. Expansion of the construction industry is a prominent element that may have an impact on the market. As the number of construction and infrastructure projects grows, so does the demand for cement.
Increasing government spending on such initiatives will help the cement market to expand. Qatar’s cement market has witnessed a significant growth rate during the past five years due to government initiatives for flourishing its tourism sector.
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The country has also invested in infrastructure and commercial buildings such as hotels and staycations. This is attributed to the country’s preparation to host the FIFA World Cup 2022. The event has added positive elements to Qatar’s economy. Travel & tourism have increased and government officials have announced more budget for innovating the tourism infrastructure.
Key Takeaways from Qatar Cement Market Study
- The Qatar cement market is estimated to witness a CAGR of 5.2% on the basis of value between 2022 and 2032.
- Doha and Al Khor are expected to collectively hold around 45% of the Qatar cement market share by 2032.
- The residential and commercial buildings segment by end use is expected to surge at a CAGR of 5.1% over the forecast period.
- The civic infrastructure segment is anticipated to escalate at a CAGR of 5.5% during the estimated time frame.
- Doha cement market was valued at US$ 365.5 million in 2021 and it is projected to surge at a CAGR of 5.1% during the assessment period.
“Increasing civic infrastructure developments across Doha is one of the key factors pushing cement sales in Qatar. Key companies are hence investing in the innovation of tunnels, bridges, ports, and roads to increase Qatar’s exposure and visibility,” says a lead analyst at Future Market Insights.
Competitive Landscape: Qatar Cement Market
The cement market in Qatar is moderately fragmented, with big corporations commanding substantial chunks of it. A significant number of medium- and business owners would be advantageous for the market.
Big producers are devoted to expanding their market share and avoiding trade barriers. To guarantee long-term material supply and profit, these manufacturers are also establishing agreements and contracts with other sectors. They are working on research and development projects for new product creation.
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A few of the top manufacturers include Southern Province Cement Company, Anhui Conch Cement, Yanbu Cement Company, Yamama Saudi Cement Company, Arabia cement, Najran Cement, Qatar National Cement Company, Al Khalij Cement Company, United Gulf Cement Company, ALJABOR CEMENT INDUSTRIES CO – HOLCIM.
For instance,
- In July 2022, Ol-Trans, a dominant player in the Polish ready-mix concrete sector, with Holcim Ltd. announced a commitment to the ownership of Ol-Trans’ 5 concrete plants. The manufacturer argues that this acquisition will broaden its network of local ready-mix concrete vendors and reduce its carbon footprint.
- In 2022, the Saudi National Bank secured assistance from Yamama Cement Co. in the sum of US$ 426 million to boost the production capacity of its new complex in Northern Halal, Al-Kharj.
Qatar Cement Market Outlook by Category
By Product Type:
- Ordinary Portland Cement
- Portland Pozzolana Cement (PPC)
- Sulfate Resistant Portland Cement
- Blended Cement
- White Cement
- Portland Slag Cement (PSC)
- Super Grade Cement
- Hydrophobic Portland Cement
By End Use:
- Residential and Commercial Buildings
- Drainage System
- Beams and Pillars
- Stairs
- Roofs and Walls
- Foundations
- Others
- Civic Infrastructure
- Dams and Ports
- Roads
- Bridges
- Tunnels
- Culverts and Sewers
- Power Plants
- Industrial and Marine Construction
By Country:
- Al Shamal
- Al Khor
- Al Sheehaniya
- Umm Salal
- Al Dhaayen
- Doha
- Al Rayyan
- Al Wakrah
Get More Insights into the Qatar Cement Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the Qatar cement market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032.
To understand the global market potential, growth, and scope, the market is segmented based on product type (ordinary Portland cement, Portland Pozzolana cement, sulfate-resistant Portland cement, blended cement, white cement, Portland slag cement, super grade cement, hydrophobic Portland cement), end use (residential & commercial buildings, civic infrastructure, industrial & marine construction), and region.
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https://waoop.com/read-blog/54849
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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