Saudi Arabia White Cement Market is expected to grow at a robust CAGR 11.93%
Increase in Demand For
Housing and growing tourism and hospitality industry are one of the factors
driving the Saudi Arabia White Cement market during the forecast period 2024-2028.
According to TechSci Research report, “Saudi Arabia White Cement Market - By
Country, Competition, Forecast and Opportunities, 2018-2028”, The Saudi Arabia White Cement Market was valued at USD 165.11 million in
2022 and is growing at a CAGR of 11.93% during the forecast period.
One of the primary drivers fueling the growth
of the Saudi Arabia white cement market is the ongoing infrastructural
development and the implementation of mega projects across the country. Saudi
Arabia has embarked on an ambitious journey to modernize and diversify its
economy as part of its Vision 2030 initiative. This has translated into a
massive influx of investments in infrastructure, including the construction of
iconic buildings, bridges, and entertainment destinations. White cement is
highly favored for prestigious architectural and decorative applications in
these projects due to its aesthetic appeal and durability. Its use in these
monumental constructions adds an element of luxury and sophistication. Notable
projects such as the NEOM city development, the Riyadh Metro, and the Qiddiya
entertainment city are significant consumers of white cement.
Furthermore, the expansion of the real estate
sector, driven by urbanization and population growth, has led to increased
demand for white cement in residential and commercial construction. The need
for high-quality, visually appealing interiors and exteriors in modern
buildings has contributed to the surge in white cement consumption. As these
infrastructural projects continue to advance, the Saudi Arabia white cement
market is expected to thrive, with manufacturers experiencing sustained demand
from both domestic and international investors seeking to participate in the
country's development boom.
Government initiatives and support play a
pivotal role in driving the Saudi Arabia white cement market. The Saudi Arabian
government has taken strategic steps to boost the construction and manufacturing
sectors as part of its economic diversification efforts. These initiatives are
aimed at reducing the country's reliance on oil revenues and promoting non-oil
industries. One such initiative is Vision 2030, which outlines a comprehensive
roadmap for economic transformation. Under this vision, the government has
facilitated investments in infrastructure, tourism, and real estate, all of
which are significant consumers of white cement. Additionally, the regulatory
environment has been favorable, with incentives and support provided for the
development of the white cement industry.
Furthermore, the government's commitment to
large-scale projects like the construction of the Riyadh Metro and the
development of tourism and entertainment destinations has created a consistent
demand for white cement. This commitment is accompanied by regulatory measures
that encourage local production, which has spurred expansion and innovation
within the domestic white cement manufacturing sector. In conclusion, the Saudi
Arabia white cement market benefits from the country's extensive
infrastructural development and mega projects, driven by both domestic and
international investments. Additionally, government initiatives and support for
economic diversification have created a conducive environment for the growth of
the white cement industry, ensuring a steady demand for this specialized
construction material in the kingdom.
Browse over 44 market data Figures
spread through 123 Pages and an in-depth TOC on the "Saudi Arabia White Cement Market"
Saudi Arabia White Cement Market is
segmented into product type, type, end user, application, and region.
Based on application, The Architectural
Concrete segment dominated the Saudi Arabia White Cement market with market
share of 45.68% in 2022, in terms of application. White cement offers a neutral tinting
foundation and predictable color effects, which is a main benefit when
utilizing it for ornamental and architectural concrete. It can be painted in
any color, from dazzling white to pastel shades to pure white. Now a days, Saudi Arabia is focusing on
infrastructural development, due to which the demand of architectural concrete
is growing rapidly. The economy of the
nation is the largest in the Middle East & eighteenth largest in the world.
Saudi Arabia was also the fastest growing G20 economy in 2022-2023.
Moreover, According to the Ministry of
Municipal and Rural Affairs, approximately 82.1 % of the total Saudi population
lives in urban areas whereas 17.9 % live in rural areas, which is the main
factor behind the growing demand of white cement. All the above-mentioned factors are
propelling the market growth and hence, Architectural Concrete is dominating
the Saudi Arabia White Cement market. Thus, Saudi Arabia White Cement market
players are suggested to focus on Architectural Concrete, as they are more in
demand. As a result, the market is expected to grow in the forecast period.
Based on product type, The White Portland
Cement segment dominated the Saudi Arabia White Cement Market growth with
market share of 72.78% in 2022, in terms of Product. Due to a surge in the
usage of white Portland cement combined with white aggregates to create white
concrete for construction projects and ornamental work, the white Portland
cement segment held a monopoly on the market in 2022. In addition, white
Portland cement is blended with inorganic colors to create concrete and mortar
that are vibrantly colored. White Portland Cement is preferred in applications
where the color and appearance of the cement matter. In architectural and
decorative projects such as high-end residential complexes, commercial
buildings, and monuments, the use of white cement creates visually appealing
structures. Saudi Arabia has been witnessing a growth in infrastructure and
real estate development, which will drive the demand for white cement in these
applications. As part of its economic diversification strategy, Saudi Arabia is
looking to entice 1.6 trillion riyals (approximately USD 429 billion) in private
sector investment over the next 10 years, for a historic infrastructure and
industrial initiative. Therefore, the major market players in the Saudi Arabia
White Cement Market are suggested to focus on White Portland Cement, for better
market opportunities.
Key market players in the Saudi Arabia
White Cement Market are:-
- Saudi
White Cement Company (Riyadh Cement Company)
- Alsafwa
Cement Company
- Al
Rashed Cement Company
- Saudi
Readymix Concrete Co.
- Yanbu
Cement Company
- Al Jouf
Cement Company
- Ras Al Khaimah
Cement Company
- Hail
Cement Company
- Najran
Cement Company
- Shargh
Cement Co.
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“The
Saudi Arabia market is rising in the upcoming period and is expected to
maintain the double-digit CAGR during the upcoming years. The
driving force behind the Saudi Arabia white cement market is the substantial
government investment in infrastructure development and mega projects, as
outlined in the Vision 2030 economic diversification plan. This robust demand
stems from the unique aesthetic and durability advantages that white cement
offers, positioning it as a critical material in prestigious architectural and
construction projects. As a result, the market continues to flourish, with
sustained growth opportunities on the horizon.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Saudi Arabia White Cement Market By Product Type (White Portland
Cement, White Masonry Cement, Others), By Type (Type 1, Type 3, Type 4, Type 5,
Type 2), By End User (Residential, Commercial, Public, Industrial), By
Application (Architectural Concrete, Precast Panels, Tile Grouts, Others), By Region,
By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Saudi Arabia White Cement Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia White Cement
Market.
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