DUBAI, United Arab Emirates, Oct. 24, 2022 (GLOBE NEWSWIRE) — According to research by Future Market Insights on the GCC cement market, the demand for cement is expected to reach a valuation of $12,651.2 min by the end of the forecast period. Due to population growth, there is a greater need for residential structures. Together with the GCC countries, this has increased the demand for cement in the world.

A market for consumer goods has been created by the growing demand for public infrastructure and non-residential buildings, such as hospitals and healthcare facilities. As a result, the expansion of the construction industry drives the demand in the market.

Cement is a widely used construction material, which plays an important role in industry. The growth of the construction industry is the main factor that can affect the market. As construction and infrastructure projects increase, the demand for cement increases. Increased government spending on such projects will help the cement market experience a boom in sales.

The building materials market has gradually developed over time. Indeed, several countries are currently experiencing favorable economic conditions. Major public infrastructure projects are expected to accelerate, opening up opportunities for public-private partnerships in the construction sector.

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Furthermore, the projected increase in healthcare expenditure is expected to boost the renovation of healthcare facilities which is also expected to fuel an increase in demand for building materials like cement during the forecast period.

“Rising demand from the construction industry, especially the commercial and residential segment, is driving the demand for cement in the GCC countries,” an IMF analyst said.

Key lessons from the cement market study

  • The GCC Cement Market is estimated to witness a growth forecast of 5.7% magnitude on a value basis.
  • Saudi Arabia and the United Arab Emirates should collectively hold 70% of the overall market share.
  • The residential and commercial segment is expected to remain a key end-use segment and the industry is expected to consume cement at a rate of 5.7% over the forecast period.

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Competitive landscape

The GCC countries cement market is somewhat semi-fragmented with major players holding a major share of the market along with the presence of several small and medium-sized key players. Major manufacturers include LafargeHolcim, Anhui Conch Cement, China National Building Material Co., Ltd, Heidelberg Cement, China Resources Cement, Aditya Birla Group, Saudi Cement. LTD, Southern Province Cement Company, Yanbu Cement Company, Arabia Cement Company, Al-Rashed Cement Company, Yamama Cement, Eastern Province Cement Co., Qatar National Cement Company, Al Khalij Cement Company, Oman Cement Company, Raysut Cement Company, Gulf Cement Company, National Cement Co., Union Cement Company, The Braj Binani Group are some of the cement manufacturers featured in the full version of the report.

The leading manufacturers are dedicated to gaining major market share and avoiding various market challenges. Major manufacturers also sign agreements and contracts with end-use industries for long-term material supply and earn more profit. In addition, leading manufacturers are engaged in research and development for product development and innovation.

For instance:

  • In July 2022, Holcim Ltd. signed an agreement with Ol-Trans, a leader in the Polish ready-mixed concrete market, to acquire its five concrete plants. The company says the acquisition will strengthen its local ready-mix concrete network and improve its carbon footprint.
  • In June 2022, UltraTech Cement announced an expansion of its global cement production capacity. For this expansion, the company will invest INR 12,886 crore to increase the capacity of the plant by 22.6 MTPA/year.

More information about the GCC Cement Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the GCC Cement Market, providing historical data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market , the market is segmented on the basis of product type, end use and country.

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Contents

1. Summary

1.1. Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

2.3. Cement SWOT Analysis

2.4. Product Type Specifications

2.4.1. Quality

2.4.2. Packaging

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

Read more Table of contents…

About FMI – Chemicals and Materials

FMI’s Chemicals and Materials division offers distinct and accurate analysis of the chemicals and materials industry. This comprehensive coverage extends from commodities, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular, with particular emphasis on “green alternatives, recycling, renewable technology developments and ‘assessment of supply, demand and trade’. Our research studies serve as benchmark market guidelines for chemical manufacturers, research institutes, distribution partners and government agencies for development – “The Way Forward”.

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