Saudi Arabia Construction Materials Market (2024-2030) | Revenue, Industry, Value, Outlook, Trends, Analysis, Companies, Size, Growth, Share & Forecast

Topics Covered in the Saudi Arabia Construction Materials Market

Saudi Arabia Construction Materials Market report thoroughly covers the market by product type and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Saudi Arabia Construction Materials Market Synopsis

Saudi Arabia is one of the biggest and fastest-growing construction markets in the world. From airports, highways to major infrastructure projects, the construction industry is booming in the country. The market is followed by various factors, including economic growth, population growth, and urbanization. Steel, cement, and concrete are the major construction materials in Saudi Arabia, accounting for over 70% of the market. Additionally, Saudi Arabia is known for having a highly skilled labor force, which contributes significantly to the quality of constructions.

According to 6Wresearch, the Saudi Arabia Construction Materials Market size is estimated to grow at a CAGR of 6.7% during the forecast period 2024-2030. The primary driver of the market is a rise in government spending on infrastructure development. With Vision 2030, Saudi Arabia's economic diversification initiative, the government has committed to spend heavily on infrastructure development. Another growing factor of the Saudi Arabia construction materials industry is the rise in population growth. As the population grows, simultaneously the demand for new homes, offices, and other commercial buildings. This demand translates into more construction activity and higher demand for construction materials.

On the other hand, market faces some challenges include the lack of trained workers in the industry. The construction industry requires skilled labor, but many young Saudis are choosing to go into other fields. Another challenge is the high cost of materials, particularly natural resources like sand and cement. There is also inadequate availability of raw materials in the country, which makes country reliable on imported items. Despite the challenges, some of the trends driving the market growth include the shift towards sustainable and eco-friendly construction materials, the use of robotics and automation in the construction process, and the reliance on smart technologies. Sustainable building materials are gaining popularity, with a focus on reducing the carbon footprint of construction.

Government Initiatives introduced in the Saudi Arabia Construction Materials Market

The Saudi Arabia government has taken various initiatives including policies & programmes that have been increasing Saudi Arabia Construction Materials Market share at a massive rate, such as reducing the import duties and taxes on building materials to attract foreign investors. Additionally, to encourage Saudi nationals’ involvement in the industry, the government has created several programs to train and develop local skills in the construction field. Moreover, the Saudi Arabian General Investment Authority (SAGIA) is working to support the growth of the construction materials market by implementing policies that aim to attract foreign investors. They facilitate assistance such as simplifying the registration process and providing financial incentives which are made available to foreign investors in the construction materials market.

Key Players in the Saudi Arabia Construction Materials Market

• Some of the leading players operating in the Saudi Arabia construction materials market include LafargeHolcim is a Swiss multinational company that produces and distributes cement, aggregates, and ready-mix concrete.
• SABIC is a global leader in diversified chemicals, with a significant presence in the construction materials industry.
• The Arabian Cement Company is a Jordan-based company that produces cement, clinker, and related building materials.

Market Analysis by Application

According to Nitesh, Research Manager, 6Wresearch, the residential sector is securing a promising growth in the market due to the government's investment in the construction of new cities and affordable housing units has contributed to the increasing demand for residential construction materials.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2033.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Saudi Arabia Construction Materials Market Outlook
• Market Size of Saudi Arabia Construction Materials Market, 2023
• Forecast of Saudi Arabia Construction Materials Market, 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Revenues & Volume for the Period 2020 - 2030
• Saudi Arabia Construction Materials Market Trend Evolution
• Saudi Arabia Construction Materials Market Drivers and Challenges
• Saudi Arabia Construction Materials Price Trends
• Saudi Arabia Construction Materials Porter's Five Forces
• Saudi Arabia Construction Materials Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Product type? for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Construction aggregates for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Concrete bricks for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Cement for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Construction metals for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Residential for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Commercial for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Construction Materials Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Saudi Arabia Construction Materials Import Export Trade Statistics
• Market Opportunity Assessment By Product type
• Market Opportunity Assessment By Application
• Saudi Arabia Construction Materials Top Companies Market Share
• Saudi Arabia Construction Materials Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Construction Materials Company Profiles
• Saudi Arabia Construction Materials Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type:

• Construction Aggregates
• Concrete Bricks
• Cement
• Construction Metals

By Application:

• Residential
• Commercial
• Industrial

Saudi Arabia Construction Materials Market (2024-2030): FAQs