Qatar Cement Market Poised for Remarkable Growth, with Projected Valuation of US$ 1,550.9 Million by 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The construction industry's growth significantly influences the cement sector, as cement is a fundamental component in construction. Cement is crucial for building and infrastructure projects. In Qatar, the cement market is expected to thrive due to the rising demand for residential and commercial buildings, driven by population growth and urbanization. Civic and tourism infrastructure development will further bolster the cement industry in the region.
NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to a research study by Future Market Insights, the Qatar cement market is poised for significant growth, with demand projected to reach a valuation of US$ 1,550.9 million by 2032. This surge in demand can be attributed to the increasing need for residential buildings, driven by a growing population in the region. This upsurge in construction activities has not only impacted Qatar but has also contributed to the rising demand for cement in global markets, reflecting the robust growth of the construction industry worldwide.
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 cement market has witnessed a significant growth rate during the past five years due to government initiatives for flourishing its tourism sector.
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 the 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.
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 Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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.
For instance,
In July 2022, Ol-Trans, a dominant player in the Polish ready-mix concrete sector, with Holcim Ltd. announced a commitment for 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 to Yamama Cement Co. in the sum of US$ 426 million to boost production capacity of its new complex in Northern Halal, Al-Kharj.
Scope of the Report
Attribute
Details
Estimated Market Size (2022)
US$ 937.7 million
Projected Market Valuation (2032)
US$ 1,550.9 million
Value-based CAGR (2022 to 2032)
5.2%
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2021
Market Analysis
Value (US$ million) and Volume (Kilo Tons)
Key Countries Covered
Al Shamal, Al Khor, Al Sheehaniya, Umm Salal, Al Dhaayen, Doha, Al Rayyan and 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.
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials division of Future Market Insights offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
