Press release from Business Wire India
Source: Frost & Sullivan
Tuesday, July 09, 2013 12:20 PM IST (06:50 AM GMT)
Editors: General: Economy, Environment, People; Business: Business services, Chemicals, Commodities & materials, Construction, Information technology, Real estate; Technology
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Emphasis on Sustainability Fuels Usage of Green Materials in the GCC Construction Sector, Finds Frost & Sullivan
Oman, Qatar, Saudi Arabia, and the UAE remain top markets for investment
Dubai, United Arab Emirates, Tuesday, July 09, 2013 -- (Business Wire India) -- The green materials market in the Gulf Cooperation Council (GCC) countries is currently in its growth stage, with increasing government initiatives as well as greater consumer awareness on environment and health presenting ample business opportunities for green material suppliers. Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) remain top countries for investment given their booming population and pace of infrastructure expansion.
New analysis from Frost & Sullivan (http://www.chemicals.frost.com), titled Strategic Analysis of Green Materials in the GCC Construction Sector, finds that the market earned revenues of $17.91 billion in 2012 and estimates this to reach $22.97 billion in 2016. The major green materials covered in this study are concrete, insulation, paints and flooring. This in-depth study covers many aspects of green materials used across GCC, such as evaluation criteria for these products, overall market opportunities in volumes and values, demand in key countries, competition analysis, future potential, growth rates, pries and imminent trends that current and future market players will have to consider to be successful in this market.
"GCC is the fastest developing region in terms of infrastructure and the rising emphasis on sustainable construction practices, lower carbon footprint, and reduced wastage has fuelled the use of green construction materials," said Frost & Sullivan Chemicals and Materials Analyst. "Bahrain, Qatar, Saudi Arabia and the UAE have already established green building councils to address sustainability issues."
While existing suppliers have nurtured robust customer relationships with governments and large clients, the untapped private and small real-estate construction segments widen the prospects of market entrants and offer added avenues for revenue generation.
The market is also slowly recovering from the downturn, which decreased foreign investments in the construction sector and curbed the adoption of green materials. With the recovery of GCC economy, and real estate in particular, the presence of a large number of regional and global participants has created a highly competitive environment.
Therefore, green material providers need to distinguish themselves in terms of quality and pricing to gain market share, particularly in less competitive segments such as flooring and insulation. Joint ventures with local companies will provide quick access to consumers, reducing the time required to build a brand.
"Companies must look to comply with the requirements of local green body councils and design products specific to the rating system for maximum sustainability points," advised the Analyst. "Since regional governments are the largest investors in construction, producing solutions suited to their needs will ensure profitability."
Improving consumer awareness on the economic, social and environmental benefits of green materials will sustain market growth in the long run.
If you are interested in more information on this research, please send an e-mail to Tanu Chopra, Corporate Communications, at tanu.chopra@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Strategic Analysis of Green Materials in the GCC Construction Sector is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan's related research services include: Green Materials Market for Construction, GCC Paints and Coatings Market, Opportunities for Green Buildings in Turkey, and South Korea Green Growth Strategies. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Strategic Analysis of Green Materials in the GCC Construction Sector
P59D-39
CONTACT DETAILS
Tanu Chopra, Corporate Communications - Middle East and North Africa, Frost & Sullivan, +91 9820480089, tanu.chopra@frost.com
Nimisha Iyer, Corporate Communications - Middle East, North Africa and South Asia, Frost & Sullivan, +91 9820050519, niyer@frost.com
KEYWORDS
ECONOMY, ENVIRONMENT, PEOPLE, BUSINESS SERVICES, CHEMICALS, COMMODITIES, CONSTRUCTION, REAL ESTATE, TECHNOLOGY
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