Qatar: FIFA 2022 to power 13% growth in chemicals
A new report has found infrastructure building in the Gulf state will boost Qatar's construction chemicals market by 13% between 2015 and 2020
The market for construction chemicals in Qatar is expected to grow at a compound annual growth rate (CAGR) of 13% between 2015 and 2020.
According to TechSci Research's report, Qatar Construction Chemicals Market Forecast & Opportunities, 2020, the market will grow on account of increasing urbanisation, growing awareness regarding quality construction, improving building standards, rising investments by the government in infrastructure projects such as airports and roads across the country.
Between 2010 and 2014, the underground construction system chemicals segment experienced the fastest growth, whereas, the construction system chemicals segment accounted for the largest revenue share in the country’s construction chemicals market.
The construction chemicals market in the country is dominated by BASF, followed by Sika Qatar, Al Gurg Fosroc, Sodamco Qatar and Mapei, the report added.
"Post 2014, infrastructure sector is expected to pick up on account of various government initiatives, especially increasing construction activities for 2022 FIFA World Cup, and the implementation of Qatar National Vision 2030 program," Karan Chechi, research director at TechSci said.
"This push in construction sector is expected to boost construction chemicals market in Qatar over next five years," he added.