Qatar’s aluminium market 'set to hit $436m'
Dubai, April 27, 2011
The demand for fabricated aluminium products in Qatar’s construction industry is expected to increase at a CAGR of 12 per cent from $252 million in 2010 to $436 million in 2015, said the organisers of an upcoming aluminium trade show in Dubai.
The second edition of Aluminium Dubai, the leading aluminium trade show, will be held from May 9 to 11 at the Dubai International Convention and Exhibition Centre.
Demand by volume is expected to increase from 1.4 million sq m (and 68,000 linear metres for kitchens) in 2010 to 2.4 million sq m (and 117,969 linear metres) in 2015.
According to a recent five-year forecast by Ventures Middle East, Qatar’s construction sector which contributes 7.2 per cent to the economy (2009) is expected to grow at a compound average growth rate (CAGR) of 12 per cent from $7 billion in 2010 to $12 billion in 2015.
Total building construction spend in Qatar is estimated to reach $53 billion excluding projects on hold, the forecast said. The country’s construction projects constitute 13 per cent of the total projects in the GCC region in terms of value.
“The construction boom combined with major developments in the aluminium production sector, offer Qatar exceptional synergy in the aluminium industry as an emerging player which will further boost the highly dynamic market in the GCC and beyond,” said Tarek Ali, show manager, Aluminium Dubai, Reed Exhibitions.
“We look forward to industry players sharing their thoughts on Qatar with our guests at the upcoming edition of Aluminium Dubai.”
Qatar’s rise in the global aluminium industry is marked by the construction of Qatalum, one of the world’s largest aluminium smelter plants at the cost of $5.6 billion. Qatalum, an equal joint venture between Qatar Petroleum and Hydro Aluminium of Norway, is expected to start producing prime aluminium in the fourth quarter of 2011.
A total of 150 companies have already confirmed participation at Aluminium Dubai 2011, with several more exhibitors from all over the world expected to follow. – TradeArabia News Service
