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The total investments in the manufacture of cement, lime and plaster in the GCC reached US$18.1bn in 2015, according to latest figures
The Gulf Organisation for Industrial Consulting (GOIC), a market research firm headquartered in Doha, said that the sector grew from US$15.4bn in 2011, at a compound annual growth rate (CAGR) of 4.1 per cent.
During the five-year period, the number of factories manufacturing cement, lime and plaster in the region shot up to 69 from 59, representing a CAGR of four per cent.
Meanwhile, the labour force expanded from 25,304 to 26,469 workers, a CAGR of 1.1 per cent. This represented 9.7 per cent of the total labour force in the field of building materials manufacture in 2015.
GOIC further revealed that the manufacture of cement, lime and plaster represented nearly 2.4 per cent of the total number of factories in the region in the field of building materials manufacture in 2015.
Last year, the investments and employment in the sector constituted 47.3 per cent of the total investments and 9.7 per cent of the total labour force, respectively, in the field of building materials manufacture.