SAUDI ARABIA FLOOR COVERING MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

SAUDI ARABIA FLOOR COVERING MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Saudi Arabian floor covering market is expected to register a CAGR of 8% during the forecast period. Industrial development fuelled by huge investments made by the government plays a crucial role in the growth of the flooring industry, as all industrial facilities need fit-for-purpose flooring.

Key Highlights

• The increased focus on green buildings, coupled with rising usage of eco-friendly flooring products in Saudi Arabia, is stimulating the demand for floorings manufactured from recycled raw materials.
• Technological advancements in the flooring industry have resulted in improved product features, such as digitally printed tile designs, availability of a wide variety of colors, and enhanced water resistance, in turn, propelling the growth of the market studied.
• The country is one of the largest countries, which are importing ceramic tiles. Moreover, the increasing focus of domestic companies toward expanding their operations and technological developments, such as the use of digital printing technology, is expected to positively influence the country's flooring industry.

Key Market TrendsCeramic Tiles Segment

In the ceramic segment, Saudi Arabia held the largest share in the global market in 2017, accounting for around 34% share. It was followed by the UAE and Qatar, respectively. Saudi Arabia may dominate the global market during the forecast period.

Several construction activities are going on in the country. The hospitality industry in the country is emerging significantly. Thus, the government is spending more on construction activities. The expanding hospitality industry may need the construction of new travel facilities, such as airports, railways, and roadways, or remodeling of the existing facilities.

The GCC’s demand for high-value ceramic tile is met through imports, primarily from Europe, China, and India. The UAE, Saudi Arabia, and Qatar are the three largest users and importers of premium and luxury ceramic tiles. These three countries imported about 62%, 68%, and 100% of their ceramic tiles demand in 2016.

Carpet Segment

• Increasing end-user applications and product and process innovations in the carpet designs and technologies are the identified market opportunities in the country.
• Increasing demand in the end-user industries, growth in the automotive industry, and increasing popularity of artificial grass in sports fields and other outdoor applications are the factors expected to fuel the growth of the Middle Eastern flooring and carpet market during the forecast period.
• Increase in investments in the construction sector is another factor, which served as a major growth driver for the flooring market in the country.
• Among application type segments, the residential segment is expected to dominate the market, in terms of revenue share. Hospitality and automotive application segments are expected to register a comparatively higher growth rate than other application segments during the forecast period.
• In the global market, Saudi Arabia accounted for a revenue share of 32% in 2016.

Competitive Landscape

The report covers major international players operating in the Saudi Arabian floor covering market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Saudi Arabian Markets Ltd
Prime Floor KSA
Arabian Tile Company Ltd
Saudi Industrial Flooring Co.
Saudi Ceramics
RAK Ceramics
Mohawk Industries Inc.
Shaw Industries Group Inc.
Armstrong Flooring
Gerflor Group
Khalid Saad
Home Depot Inc.*

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.