The Saudi Arabia Tiles Market is anticipated to grow at a
robust rate in the forecast period, 2024-2028. The country’s market is expected
to be driven by rapidly expanding construction spending to support tourism and
other sectors. There are several benefits of using tiles in the residence, which
include improvement in the appearance and feel of the living and enhancement in
house's interior design. Tiles are among
the most adaptable elements used in any exterior or interior concept design.
They look lovely, age well, and are simple to maintain. They come in various
shapes, hues, textures, and materials. Ceramic tiles, porcelain/vitrified
tiles, mosaic tiles, cement tiles, natural stone tiles, and ultra-luxury
customized tiles with semi-precious stones, glass, and metal engravings are
just some of the numerous options available.
Growing Infrastructure Development
Projects in Saudi Arabia Driving the Market Expansion in the Future
A rise in infrastructure
development projects is expected, which aligns with the government's objective
of diversifying its oil-based economy. Due to this the market is expected to
grow in the forecast period.
Over the years, the
nation's supply of manufactured residential structures or individual homes
rapidly increased. Urban growth, technological improvements, rising earnings,
and population expansion, which have led to increased housing needs, are a few
other factors that have been proactive in preserving the demand for tiles in
the country.
On both interior and
exterior walls, tiles are frequently employed. Tiles enhance the interior
space's appearance and atmosphere right away. They also offer pops of color to
the children's bedroom, serve as wall highlighters in the living area, or
create a calming atmosphere in a master bedroom. For interior designers, tiles
have emerged as the perfect material. Due to their ease of maintenance and lack
of heat absorption, they are also generally favored for external wall cladding.
Government Focus towards
Non-Oil Industries Propelling the Market in the Forecast Period
The multibillion-dollar
project NEOM's construction, the rising emphasis on green buildings, and plans
for the development of smart cities are all projected to impact tile
consumption in the upcoming years. Neom Metropolis, also known as Project Neom,
is a zero-carbon smart city that the Saudi government is planning, and that
Saudi Crown Prince Mohammed Bin Salman has envisioned.
As a result, manufacturers
focus on producing ceramic tiles for home use. Therefore, it is expected that
the housing industry and new construction would fuel market expansion for
tiles. The country’s increasing urbanization is predicted to spur population
expansion in the cities, raising utility consumption and the housing demand.
The tendency is anticipated to fuel the market expansion.
The government of Saudi
Arabia announced major growth plans to diversify its economy. It published its
2030 vision, which aims to achieve sustainable growth through economic
diversification, in 2016. Investment in human capital, education, and non-oil
industries like tourism are some pillars supporting Saudi Arabia's economic
diversification policy.