MANAMA: The GCC building and construction industry currently consumes up to 400,000 tons of aluminum annually, making it one of the biggest markets for aluminum products in the region. Construction projects in Saudi Arabia, the UAE, Qatar and Kuwait have been key growth markets that are driving the surge in demand for aluminum. According to Deloitte Middle East's GCC Powers of Construction 2010 report, the UAE has 36 percent, worth $958 billion, of total construction projects in the region, and is expected to see its construction industry grow by a compound annual growth rate (CAGR) of 9.6 percent between 2010 and 2014. Saudi Arabia currently has a 38 percent of the total construction projects in the region, and is expected to launch contracts worth $86 billion in 2011. Currently, Saudi Arabia has $624 billion worth of projects planned or under way. Qatar has a 15 percent share, and the country has the biggest growth potential as its CAGR from 2010 to 2014 is estimated to reach 12 percent. In Kuwait, the government's firm commitment to its infrastructure stimulus measures will continue to drive growth in the construction sector in 2011. In Kuwait, construction industry business for 2011 is forecast at $2.4 billion, with year-on-year growth reaching 2.4 percent, Business Monitor International said. Against this backdrop, the second edition of Aluminium Dubai trade show will be held on May 9 to 11 at the Dubai International Convention and Exhibition Centre. "Saudi, the UAE and Qatar easily combine for majority of ongoing construction projects in the GCC and are likewise expected to continue to dominate the construction landscape in the future. The building and construction sector will definitely be a key factor in sustaining the strong demand for aluminum in the GCC," said Gulf Aluminum Council general secretary Mahmood Daylami. "Aluminum Dubai 2011 creates opportunities and opens exciting possibilities for the world's top aluminum companies and other key industry players to take advantage of the enormous growth potential of the GCC's aluminum market," said Reed Exhibitions show manager Tarek Ali. "We certainly expect the growth trend in the GCC to sustain its momentum as developers and contractors in the region remain eager to take advantage of the excellent properties of aluminum to suit the aesthetic, budget and quality demands of their projects.
