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.
According to Cement Market in the GCC 2015-2019 Industry Research Report by Technavios, the cement market in the GCC to post a healthy market growth rate of more than 6% in the coming few years.
Market outlook of the cement market in the GCC
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. Augmented 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.
Competitive landscape and key vendors
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.
Key vendors in this market are – Gulf Cement, Kuwait Cement Company, Lafarge, Oman Cement Company, Qatar National Cement, Saudi Cement Company
Other prominent vendors are Al Safwa Cement, Aljabor Cement Industries, Eastern Province Cement, Fujairah Cement Industries, Jebel Ali Cement, Khalid Cement Industries Complex, Najran Cement, National Cement, Pioneer Cement, Ras al-Khaimah Cement, Southern Province Cement, Tabuk Cement, Teba Cement Factory, Yamama, and Yanbu Cement.