Construction Boom in Egypt Drives Chemicals Demand, Finds Frost & Sullivan

Construction Boom in Egypt Drives Chemicals Demand, Finds Frost & Sullivan PR Newswire CAPE TOWN, South Africa, Nov. 14, 2012 - Growing population and rising middle class fuels residential and commercial construction CAPE TOWN, South Africa, Nov. 14, 2012 /PRNewswire/ -- In 2011, Egypt's chemicals market was estimated to be the second largest in Africa, after South Africa. Egypt is the largest producer of polymers and fertilisers on the continent, and is expected to continue growing in these sectors. One of the primary reasons for the market's success is the growing population, currently at 2%, as well as the rising middle class, accounting for more than 60% of the Egyptian population. New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Strategic Analysis of the Egyptian Chemicals Market, finds that the market earned revenue of $11.89 billion in 2011 and estimates this to reach $16.43 billion in 2016. The residential and commercial construction boom in 2011 was a result of an increased need for housing and non- residential infrastructure to accommodate the swelling population. As a large percentage of the country's residents are under the age of 39, there is a considerable need for housing and other non-residential buildings, such as schools and hospitals. Government initiatives to build the residential sector include enhanced housing finance, and private housing upgrades due to higher disposable income.