Saudi Arabia Ceramic Tiles Market - Growth, Trends, and Forecasts (2020 - 2025)
Saudi Arabia is the largest consumer and producer of ceramic tiles in the GCC region. Ceramic tiles are thin slabs predominantly made up of naturally occurring minerals like clay, silica sand, feldspar and dolomite and are used as floor or wall coverings in residential, commercial, and industrial buildings. The market is currently being driven by rising demand for residential and commercial buildings, technological advancements and increasing construction activities. Moreover, increasing focus of domestic companies towards expanding their operations and technology developments such as use of digital printing technology is expected to positively influence the country's ceramic tiles market.
Key Market Trends
Hospitality Industry is Driving the Market
The hospitality industry in the Saudi Arabia is emerging significantly owing to the construction of the holy Islamic shrines, Mecca and Medina witnessing millions of pilgrims every year. In addition, government is increasingly spending on construction activities to accommodate these pilgrims and religious tourists. The increasing oil prices are bringing in more revenue for the government, and hence, the government is able to spend more on construction activities. The growing hospitality industry will require the construction of new travel facilities such as airports, railways, and roadways or remodelling of the existing facilities. As a result, with the rising investments by the governments in the ongoing construction activities will further drive the ceramic tiles market in Saudi Arabia.
Residential Segment is Driving the Demand for Market
Increase in remodelling activities is estimated to boost the product demand in residential segment of the ceramic tiles market during the forecast period. Consumers are spending massively to increase wall and floor appearance which will be a prime factor fuelling product demand for residential segment in the coming years. The growth of the market can be attributed to the growing consumption of residential buildings owing to their durability and low price.
The report covers major international players operating in the Saudi Arabia Ceramic Tiles Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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