GCC demand to edge up?
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.
Continued infrastructure development, the 2022 FIFA World Cup to be held in Qatar, and the country’s move
towards an expansionary budget are expected to significantly contribute to a long-awaited increase in
cement demand in the GCC area
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.
