The last few years have been challenging for the cement industry in the Gulf Cooperation Council (GCC) countries. However, as GCC governments move towards expansionary budgets and the implementation of mega projects edges ahead, sector analysts predict a modest rise in the region’s cement demand this year.
By Hettish Karmani, U-Capital, UAE.
The GCC cement sector has been facing troubling times, starting with the oversupply situation that built up during the 2008-12 period. This was followed by an oil price crash in late 2014 which reduced the fortunes of the GCC and was further aggravated by contractionary budgets until 2017.
