Report Description

The Saudi Arabia Tiles Market is anticipated to grow at a CAGR of 6.52% in the forecast period. 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.