DOHA: The market for construction chemicals in Qatar is forecast to grow at a compound annual growth rate of (CAGR) of around 13 percent during 2015-2020.
Major factors boosting growth of the market include increasing housing demand by urban population, rising awareness about quality of construction chemicals, expanding economy, high spending on construction activities by the government and increasing construction of many infrastructure projects such as airports, subways, tunnels, highways, bridges, railway networks and power plants as a part of preparations for FIFA World Cup in 2022.
The market is also driven by increasing government spending on building highways, drainage systems, stadiums and hotels, among others.
On account of high infrastructure growth anticipated in Doha City, demand for construction chemicals is expected to witness robust growth.
With technologically advanced products and wide distribution network, foreign construction chemical players continue to dominate in Qatar.
Leading construction chemical companies operating in Qatar include BASF, Sika, Fosroc, Mapei, and Sodamco, says global market research and consulting company TechSci in its research report ‘Qatar construction chemicals market forecast & opportunities, 2020’.
“Post-2014, the infrastructure sector is expected to pick up on account of government initiatives, especially increasing construction activities for FIFA World Cup 2022 and implementation of Qatar National Vision 2030 programme.
“This push in the sector is expected to boost construction chemicals market over next five years,” said Karan Chechi, Research Director, TechSci Research, a research-based management consulting firm.
The report has analysed the potential of the market and provides statistics and information on market sizes, shares and trends.
It intends to provide clients with cutting-edge market intelligence and help them take sound investment decisions.
The report also identifies and analyses emerging trends along with major drivers, challenges and opportunities in the construction chemicals market.
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