KSA Cement Market Size, Share & Trends Analysis Report By Product (Portland Cement, White Cement), By End Use (Residential Buildings, Non-residential Buildings), And Segment Forecasts, 2024 - 2030

KSA Cement Market Size, Share & Trends Analysis Report By Product (Portland Cement, White Cement), By End Use (Residential Buildings, Non-residential Buildings), And Segment Forecasts, 2024 - 2030

KSA Cement Market Size & Trends

The KSA cement market size was estimated at USD 3.99 billion in 2023 and is projected to grow at a CAGR of 7.0% from 2024 to 2030. This market is driven by its rising application in the construction industry in the country owing to the country's ambitious Vision 2030 initiative, which focuses on extensive infrastructure and urban development. The rapid urbanization and expansion of major cities, coupled with a surge in population, are fueling a robust demand for residential and commercial construction. Additionally, ongoing economic diversification efforts and increased private sector investments in real estate and construction further stimulate product consumption.

The Saudi Vision 2030 plan is a significant catalyst for the product market. This blueprint for economic diversification and modernization includes extensive infrastructure projects such as new highways, bridges, airports, and public transportation systems. These large-scale projects require substantial amounts of product, driving up demand and fostering industry growth. Notable examples include the development of the King Abdulaziz International Airport expansion and the Red Sea Project, which necessitate high volumes of product for construction.

Rapid urbanization in Saudi Arabia, particularly in major cities like Riyadh, Jeddah, and Dammam, is a major driver of product demand. The ongoing expansion and modernization of urban areas lead to increased construction of residential, commercial, and mixed-use developments. As new residential neighborhoods and commercial centers are built to accommodate a growing urban population, the demand for products continues to rise.

Moreover, Saudi Arabia's efforts to reduce its economic reliance on oil are resulting in significant investments across various sectors, including real estate, tourism, and entertainment. This diversification strategy includes the development of new business hubs, tourism destinations, and recreational facilities, all of which require considerable product for construction. Projects like the NEOM city and the Red Sea tourism developments are prime examples of initiatives driving product consumption.

The Saudi Arabian product market faces several restraints that could impact its growth trajectory. One significant challenge is the volatility of raw material prices, particularly for key inputs like clinker, limestone, and gypsum. Fluctuations in these costs can lead to increased production expenses and affect profit margins for product manufacturers. Additionally, the industry is grappling with overcapacity issues, which can lead to intense competition and pricing pressures among producers.

KSA Cement Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the KSA cement market report-based product and end use.

• Product Type Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)
• Portland Cement
• White Cement
• Others
• End Use Type Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)
• Residential Buildings
• Non-residential Buildings
• Pavement/Street Construction

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