Saudi Arabia Cement market to witness Steady Growth till 2026
Rise in construction
activities and growing economy is expected to drive the Saudi Arabia Cement market
in the forecast period.
According to TechSci Research report, “Saudi
Arabia Cement Market By Type (Portland, Blended, Others) By Application
(Residential, Commercial, Infrastructure, Industrial and Institutional), By
Region, Company Forecast & Opportunities, 2026”, The Saudi Arabia
Cement market is expected to witness steady growth in the next five years.
Cement is one of the crucial key materials used in the construction process.
Cement is manufactured by using raw materials such as limestone, sand, and clay
which are widely available in Saudi Arabia. Cement is used as a binding agent
for concrete, mortar, stucco, among others. Also, the availability of
affordable petroleum fuel lowers the cost of cement manufacturing. The
production costs associated with cement manufacturing are expected to witness a
surge in the forecast period owing to the cut in energy subsidies. To optimize
the growing costs, cement manufacturers and key players are investing in new
infrastructure projects which aids in lower power consumption. Installation of
advanced equipment integrated with advanced technology is expected to enhance
the quality of the cement produced meanwhile improving the overall efficiency
and performance of the equipment used for the cement production. An increase in
the construction activity in residential, commercial, industrial, and
institutional sectors is the major driving factor for the market growth.
Increasing construction of airports and road construction projects is fueling
the demand for the cement market in the next five years. Ongoing metro projects
such as Riyadh Metro to increase the connectivity between different regions of
the country and make traveling easier and convenient for the individuals is
expected to foster the growth of the cement market. With the growing
population, the demand for public infrastructure and non-residential buildings
including schools, hospitals, among others contributed to fuel the growth of
the cement market.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected countries
adversely. Leading authorities of Saudi Arabia imposed lockdown restrictions
and released a set of precautionary measures to contain the spread of novel
coronavirus. Coronavirus-affected patients started suffering from shortness of
breath along with coughing and sneezing. Due to the ongoing pandemic, the
construction activities were temporarily stopped. Workers migrated back to
their native places which led to a shortage of workforce during this period.
Also, due to strict regulations, disruption in the supply chain was observed
which adversely affected the cement market growth.
However, environmental regulations restricting lower
emission of carbon may hamper the Cement market growth in the forecast period.
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Saudi
Arabia Cement market is segmented into type, application, regional
distribution, and company. Based on application, the market can be divided into
residential, commercial, infrastructure, industrial and institutional. The
infrastructure segment is expected to witness growth in the forecast period,
2022-2026. The growing need for infrastructural developments of malls,
airports, transport, healthcare, education, roads, dams, among others is the
driving factor for this segment. Huge expenditure by the government and
promotional initiatives by the leading authorities is also contributing to
accelerate the market growth.
Arabian
Cement Company, Saudi Cement, Yanbu Cement Company, Yamama Saudi Cement
Company, Southern Province Cement Company. Najran Cement Company, Kiran Saudi
Arabia Chems, Alkifah Building Materials Company, Qassim Cement Company, Saudi
White Cement Co and Riyadh Cement Co are the leading players operating in Saudi
Arabia Cement market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several Cement
manufacturers are coming up with their technologically advanced offerings.
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“The
rise in the adoption of green cement for construction activities to construct
eco-friendly and sustainable buildings is expected to influence market growth.
Green cement is manufactured by using a carbon-negative manufacturing technique
that aids in minimizing pollution by reducing the carbon footprint thereby is
expected to witness substantial growth in the next five years. Also, the strong
economic position of Saudi Arabia coupled with construction projects such as
Saudi Vision 2030 and Neom City construction is expected to propel the growth
of the cement market till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a global research-based management consulting firm.
“Saudi
Arabia Cement Market By Type (Portland, Blended, Others) By Application
(Residential, Commercial, Infrastructure, Industrial and Institutional), By
Region, Company Forecast & Opportunities, 2026” has evaluated
the future growth potential of Saudi Arabia Cement market and provided
statistics & information on market size, shares, 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 the of Saudi Arabia Cement market.
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