With new research indicating that growth in the construction industry in the UAE is expected to be as much as 20 per cent annual CAGR rate between 2010 and 2013, there is renewed interest in the building materials industry which is vital to feed this projected surge.
Building materials form an important segment of Hardware+Tools Middle East, the leading trade show that is at the pulse of the hardware, tools, machinery and building materials industries in the region.
“The construction industry is the primary engine that drives growth in the market for building material and related products,” said Ahmed Pauwels, Chief Executive Officer of German trade fair organiser Epoc Messe Frankfurt. “More recent growth projections have sparked renewed interest in this sector, with international suppliers and manufacturers increasingly interested in Hardware+Tools Middle East as the platform to engage with the emerging markets of this region,” he added.
The global market for building material is expected to be worth a staggering US$ 706.7 billion by 2015. While growth has definitely been constrained in North America and Europe, the emerging economies of Asia and Latin America are expected to lead the recovery in the construction sector.
Regionally, growth in the sector will continue to be driven by huge ongoing and future investments in public infrastructure, including new developments in airports, seaports, industrial and trade free zones and in various public amenities. Large-scale international events such as the upcoming World Cup football championship in Qatar, will play a big part in driving fresh growth in the regional construction industry.
Hardware+Tools Middle East will be held at the Dubai International Convention and Exhibition Centre from May 10th to 12th, 2011. The leading trade and networking event of its kind in the region will feature the latest products and trends in the industry across the hardware, tools, machinery and building materials sectors.