The Gulf Cooperation Council or, GCC calcium oxide market is projected to reach a market capitalization of US$ 245.4 million at a CAGR of 4.9% by the end of the forecast period 2023 to 2033. The growth of the building and construction sector in the region is projected to drive the market in the forecast period.
The market is expected to benefit from the expanding building and construction sectors in these countries that are heavily investing in large-scale infrastructure projects. These include construction, transportation, and urbanization initiatives. Calcium oxide plays an indispensable role in these sectors owing to its diverse applications.
GCC region has seen an increase in infrastructure projects such as skyscrapers, airports, motorways, and residential complexes. All of these are predicted to significantly boost demand for calcium oxide. Likewise, calcium oxide is used for soil stabilization, which improves the engineering features of the soil and makes it acceptable for construction.
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Calcium oxide demand for soil stabilization applications is expected to expand as the GCC countries continue to focus on developing their transportation networks and creating solid foundations for infrastructure projects.
The market is highly competitive and dominated by domestic manufacturers of calcium oxide. Though, the distributors of calcium oxide seek contracts with these manufacturers to provide a consistent supply of chemicals in the region. These strategies are expected to benefit the growth of the calcium oxide market.
Besides the above-mentioned industry trends, the calcium oxide market is also heavily influenced by demographic, macroeconomic, innovation, and sustainability factors. Based on these factors, significant investments have been made in the calcium oxide market, which is expected to drive demand for calcium oxide in the forecast period.
“Calcium oxide's rising demand is fuelled by its versatile applications in construction, manufacturing, agriculture, and environmental sectors. Vendors are likely to find growth opportunities through governmental contracts considering the significant investments the countries have made in their infrastructural projects.” - says an FMI analyst.
Key Takeaways:
The GCC calcium oxide market is projected to witness a CAGR of 9% during 2023 and 2033.
The commercial grade segment is estimated to dominate the GCC calcium oxide market at 9% CAGR through 2033.
Based on end-use industry, building and construction segment is expected to reach a valuation of US$ 130.7 million by the end of the forecast period.
In the GCC region, the majority of the demand is met through domestic production, which accounts for 95% of the total market demand.
Competitive Landscape
According to FMI Analysis Graymont, Saint Hilaire Industries, Lhoist, Carmeuse, Austin White Lime, Ube Material Industries Ltd, Saudi Lime Industries Co, Astra Mining, United Mining Investments Co., Mississippi Lime, Emirates Lime Factory, Super Cement Manufacturing Company LLC, Ras Al Khaimah Lime, SATHI International FZE, GULF LIME CO LLC, and several others are the market players, which are identified as key players.
Key players are engaged in the expansion of production capacities along with research and development.
Companies are also involved in the long-term supply of the products with the end users to maintain the proper supply chain and uninterrupted supply of final products.
Market Segmentation
By Grade:
Food grade
Commercial grade
By End-use Industries:
Building and Construction
Iron and Steel Industries
Water and Wastewater Treatment
Food Industry
Glass Manufacturing
Agriculture
Others
By Country:
United Arab Emirates
Kingdom of Saudi Arabia
Qatar
Kuwait
Bahrain
Oman