The market for construction chemicals in Qatar is forecast to grow at a compound annual growth rate (CAGR) of around 13 per cent from 2015 to 2020, according to a recently released TechSci Research report.

TechSci Research, a market research and consulting service provider, unveiled its latest report called the ‘Qatar Construction Chemicals Market Forecast & Opportunities, 2020’.

According to the report, few of the major factors that are boosting growth of construction chemicals market in Qatar include increasing housing demand by urban population, rising awareness regarding quality of construction chemicals, expanding economy, and the high spending on construction activities by government.

Additionally, as well as the increasing construction of many infrastructure projects such as airports, subways, tunnels, damns, highways, bridges, railway networks, power plants as a part of preparations for upcoming Fifa World Cup in 2022, it said.

The market for construction chemicals in the country is also driven by increasing government spending on building highways, drainage systems, stadiums, and hotels. On account of high infrastructure growth anticipated in the City of Doha, the demand for construction chemicals is expected to witness robust growth, said the report.

With technologically advanced products and a wide distribution network, foreign construction chemical players continue to dominate in Qatar. Few of the leading construction chemical companies operating in Qatar include BASF, Sika, Fosroc, Mapei, and Sodamco.

Karan Chechi, research director, TechSci Research, said: “Post 2014, infrastructure sector is expected to pick up on account of various government initiatives, especially increasing construction activities for Fifa World Cup, 2022, and implementation of Qatar National Vision 2030 programme.”

“This push in construction sector is expected to boost the construction chemicals market in Qatar over next five years,” he said.

“The report has analysed the potential of the construction chemicals market and provides statistics and information on market sizes, shares and trends. The report intends to provide its clients with cutting-edge market intelligence and help them in taking sound investment decisions.

Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in Qatar construction chemicals market,” he added. – TradeArabia News Service