Government Investment In Residential And Commercial Sector To Drive Saudi Arabia Tiles Market To $ 2 Billion By 2023
Saudi Vision
2030 aimed at reducing oil dependency by promoting other industries coupled
with development of smart cities and growing focus on green buildings to fuel
the country’s tiles market through 2023
According to TechSci Research report “Saudi Arabia Tiles Market By
Material, By Type, By Demand, By Application, Competition Forecast &
Opportunities, 2013 - 2023’’, Saudi Arabia tiles market is projected to reach $ 1.9
billion by 2023. Government focus on promoting non-oil revenue generating sectors and green building projects, in addition to recovery in commodity prices and the
Saudi government initiative
to build a new city completely run on renewables called NEOM is expected to aid
the tiles market in the coming years. Some of the major players operating in
the country’s tiles market are Saudi Ceramic Company, RAK Ceramics PJSC, and STN
Ceramica, among others.
Browse 58 market data
Figures and Tables spread through 105 Pages and an
in-depth TOC on "Saudi Arabia Tiles market"
On
the basis of type of tiles, Saudi Arabia tiles market has been segmented into
floor tiles, wall tiles and roof tiles. Of these types, floor tiles are
extensively used in various construction and infrastructure related projects in
both commercial and residential segments in the country, thus the segment accounts
for the dominating market share. Riyadh
and Makkah accounted for the largest share in Saudi Arabia tiles market in
2017. Owing to the presence of highest number of High Net Worth Individual
(HNI) and development projects in residential and commercial sectors in the
regions, they are anticipated to continue dominating the country’s tiles market
during the forecast period.
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“In April 2017, Saudi Arabia announced an
investment of USD70 billion for the development of four new infrastructure
projects related to housing and commercial sectors in the country. This move is
expected to have a huge positive impact on the country’s tiles market in the
long term. Moreover, domestic companies are not able to compete with
international products imported from India and China. India has surpassed China
as the leading exporter of ceramic and porcelain tiles as the products supplied
by India are much cheaper than Chinese products. This trend is expected to
prevail in the foreseeable future.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Saudi Arabia Tiles
Market By Material, By Type, By Demand, By Application, Competition
Forecast & Opportunities, 2013 - 2023” has evaluated
the future growth potential of Saudi Arabia tiles market and provides
statistics and 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 decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Saudi Arabia tiles market.
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