Saudi Arabia Concrete Market Report and Forecast 2024-2032

Saudi Arabia Concrete Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Saudi Arabia concrete market size attained a volume of approximately 228.24 MMT in 2023. Aided by the burgeoning infrastructure projects and the rising urbanisation within the kingdom, the market is projected to further grow at a CAGR of 3.70% in the forecast period of 2024-2032, reaching a volume of around 284.3 MMT by 2032.

Concrete, primarily composed of cement, coarse aggregates, fine aggregates, and water, is fundamental to the construction sector. In Saudi Arabia, it is indispensable to the construction of residential complexes, skyscrapers, bridges, highways, and various other infrastructures. The material's strength, durability, and cost-effectiveness have cemented its crucial role in the Kingdom's urban and infrastructural landscape. Beyond its structural benefits, advancements in concrete technology have led to the development of variants with thermal insulation, acoustic properties, and resistance to environmental stresses, amplifying its applications.

The swift pace of urbanisation in the country is the primary driver of the Saudi Arabia concrete market growth. With the Saudi Vision 2030 initiative focusing on diversifying the economy and reducing the kingdom's reliance on oil, there has been a significant surge in infrastructural and developmental projects. Mega-projects like NEOM, a cross-border city in the Tabuk Province, are indicative of the extensive scale of construction activities, leading to an amplified demand for concrete.

Moreover, the rising trend of sustainable and green construction in Saudi Arabia is fostering innovations within the concrete sector, thereby, influencing the Saudi Arabia concrete market outlook. The development and deployment of green or sustainable concrete, which reduces the carbon footprint and promotes environmental sustainability, are being pursued aggressively. As Saudi Arabia grapples with environmental challenges, such eco-friendly alternatives are not just market differentiators but also necessities.

Another significant market propellant is the growth of the tourism sector in Saudi Arabia. With the kingdom opening its doors to international tourists and focusing on projects like the Red Sea Project and the Qiddiya entertainment city, the demand for commercial and hospitality infrastructures is on the rise, subsequently fuelling the Saudi Arabia concrete market demand.

The applications of concrete are not confined solely to mega infrastructural projects. The growth of the residential sector, driven by the increasing population and the government's push towards providing affordable housing, further accentuates the demand for concrete in Saudi Arabia.

Market Segmentation

The market can be divided based on type, application, and end user industry.

Market Breakup by Type

• Ready-Mix Concrete
• Transit Mix Concrete
• Central Mix Concrete
• Shrink Mix Concrete
• Pre-Cast Products
• Paving Stones and Slabs
• Bricks
• AAC Blocks
• Others
• Pre-Cast Elements
• Façade
• Floor
• Building Blocks
• Pipe
• Others

Market Breakup by Application

• Reinforced Concrete
• Non-Reinforced Concrete

Market Breakup by End-User Industry

• Roads and Highways
• Tunnels
• Residential Buildings
• Dams and Power Plants
• Mining
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Saudi Arabia concrete market. Some of the major players explored in the report by Expert Market Research are as follows:

• Abdel Hadi Abdullah Al Qahtani & Sons Group of Companies
• Al Amam Factory for Concrete and Bricks
• Al Fahd Company
• Al Falwa Concrete Limited
• Al Houssain & Al Afaliq Company HACO
• Alian Industry Company
• Sharqmix – Al Sharq Ready-Mix Concrete
• Bina Ready-Mix Concrete Products
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.