Gulf States' PPE Demand Rising, Frost & Sullivan Reports
Infrastructure projects that slowed or halted during the economic downturn are now being completed, and the construction sector is growing along with the population of the six countries in the Gulf Cooperation Council, according to a new analysis.
Frost & Sullivan has produced an analysis of PPE demand in the six countries comprising the Gulf Cooperation Council: Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates. They have about 46 million citizens combined, and their populations are rapidly increasing.
The construction sector is growing in line with that growth. Also, infrastructure projects that slowed or halted during the economic downturn are now being completed, according to the firm's Strategic Analysis of the GCC Personal Protective Equipment (PPE) Market report, which estimates the market earned revenues of $320.8 million (U.S. dollars) in 2011 and will reach $452.4 million in 2017.
Projects unrelated to oil and gas are being encouraged as the countries seek economic diversification, the report says.
"The construction and infrastructure industries in the GCC are strongly driven by the USD 120-130 billion in awarded contracts, across various sectors. Further, the infrastructure planning towards the upcoming 2020 FIFA World Cup in Qatar, is expected to boost the PPE Market at par with the construction industry, provided all regulatory and safety compliances are met," a Frost & Sullivan Chemicals and Materials research analyst said in the company's Dec. 27 news release.
"It is imperative for the government and private participants to enforce safety standards and build awareness. Many multinationals have already launched awareness campaigns and stand to gain from the resultant goodwill," the analyst added.
For more information, visit www.frost.com and http://www.gcc-sg.org/eng/.