Posted by The ‘Saudi Arabia Concrete Market Size, Share, Analysis, Report and Forecast 2024-2032″, by Expert Market Research gives an extensive outlook of Saudi Arabia concrete market, assessing the market on the basis of its segments like types, applications, and end user industries.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Saudi Arabia Concrete Market Size, Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
- Historical Market Size (2023): Approximately 228.24 MMT
- Forecast CAGR (2024-2032): 3.70%
- Forecast Market Size (2032): Around 284.3 MMT
In the Saudi Arabia concrete market, ready-mix concrete accounts for a considerable share as it can be customised, reduce construction waste, and lower dust pollution. Ready-mix concrete is ready-to-use and already mixed with water and other required elements, hence lowering the requirement for manual labour and reducing construction time and costs. Moreover, with the increasing trend of sustainability, contractors are using ready-mix concrete as it decreases the requirement for energy on construction sites.
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Saudi Arabia is a popular tourist destination, and the country’s government is actively promoting tourism to generate more revenue. The increasing investments in the development of various tourist destinations such as viewpoints, buildings, and museums, among others, by governments and private players are likely to aid the Saudi Arabia concrete market.
Saudi Arabia concrete Industry Definition and Major Segments
Concrete is a composite material made of cem ent mixed with water, stones, gravel, and sand. It is a common material used in construction activities to increase the strength, durability, and sustainability of the building. It comes in many forms such as ordinary concrete, reinforced concrete, ready-mix concrete, precast concrete, green concrete, and aerated concrete, among others.
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Based on type, the market is segmented into:
- Ready-Mix Concrete
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
- Pre-Cast Products
- Paving Stones and Slabs
- Bricks
- AAC Blocks
- Others
- Pre-Cast Elements
- Façade
- Floor
- Building Blocks
- Pipe
- Others
By application, the market can be divided into:
- Reinforced Concrete
- Non-Reinforced Concrete
On the basis of end user industry, the market can be segregated into:
- Roads and Highways
- Tunnels
- Residential Buildings
- Dams and Power Plants
- Mining
- Others
Saudi Arabia concrete Market Trends
As a part of the Vision 2030 project, the Saudi Arabian government is attempting to diversify its revenue generation sources and reduce the dependency on oil exports. Hence, the government is funding various mega projects, including Red Sea, Qiddiya, and others. These projects are expected to provide a big push to the construction market, consequently propelling the Saudi Arabia concrete market growth.
Rapid urbanisation demands more residential areas and buildings. The government, under its long-term development plan, is promoting urbanisation and investing in public infrastructure like schools, hospitals, and parks, among others. The government is also offering cheap lands and tax concessions to invite international companies to build manufacturing plants in the country. Such initiatives are expected to boost infrastructural development and assist in the growth of the Saudi Arabia concrete market in the coming years.
Market players are constantly investing in research and development of new and better technologies to provide the best customer service and experience. For instance, in March 2022, Al Kifah Ready-Mix & Blocks announced the launch of its new concrete product range, ConGreen –reduced Co2 concrete. This concrete was made with low-carbon materials such as pozzolan using Carbon Cure Technologies’ recycled Co2 technology to reduce carbon footprint by 30%.
Key Market Players
The major players in the Saudi Arabia concrete market report are Abdel Hadi Abdullah Al Qahtani & Sons Group of Companies, Al Amam Factory for Concrete and Bricks, Al Fahd Company, Al Falwa Concrete Limited, Al Houssain & Al Afaliq Company HACO, Alian Industry Company, Sharqmix – Al Sharq Ready-Mix Concrete, and Bina Ready-Mix Concrete Products, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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