According to a study by the GOIC, growth in the Gulf construction sector, in particular Qatar, UAE, & Saudi Arabia, is expected to result in consumption of 1M/t of flat glass. Annual growth rate of between 10-12% in glass products over the next 3y is expected. The study revealed that the total investment required in the next 5y in the Gulf glass industry would be around $80 BN. "GCC member states are considered as the future growth areas for flat glass due to recent growth in the construction sector, which is fuelled by high oil prices & high population growth," reports the study. Cumulative investment from the 75 flat glass producers in the GCC was over $564M in 2005. Qatar has 7 flat glass producers, investing a total of $7.6M. Saudi has the highest number of producers, investing $476M & the UAE has 20 producers, & an investment of $18M.
