Research groups reported that the occurrent strong demand for building materials in Qatar could become even stronger, as the country prepares for the FIFA 2022 World Cup with a brimming project pipeline.
According to BMI Research, a growing amount of aggregate materials will be needed to support the rapid expansion of the country’s construction sector in the run-up to this much-awaited event. In its report, the agency states:
“The government policy will serve to help mitigate bottlenecks with regard to matching growing demand with an adequate supply of building materials. We expect that prudent government policy under the auspices of state-owned Qatar Primary Materials Company (QPMC) will help to facilitate building material supplies to the private sector, allowing the government to successfully implement its ambitious infrastructure build out.”
Fitch Group, a renowned credit rating agency, also stated that the country’s investment program will stimulate a well-diversified growth in its infrastructure sector, with commercial and transport construction projects being the biggest drivers of the trend. It adds that, in turn, the construction boom would push up the demand for primary construction materials, including bitumen, cement, and aggregated and washed sand.
Currently, Qatar is already a very high per capita consumer of building materials. And with the World Cup happening five years from now, its cement consumption is forecast to even increase by 4% on a yearly basis during the period.
Specifically, non-residential building spaces, which will be the main driver of cement demand, is predicted to experience an average annual growth of 15% up to 2022.