Saudi Arabia Floor Covering Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Saudi Arabia Floor Covering Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

COVID-19 has greatly affected Floor Covering Market in Saudi Arabia. Parties involved in construction projects are having difficulties moving projects forward and finding solutions to claims arising from on-site suspensions, delays, and additional costs. While some construction contracts have already been terminated due to the pandemic, many others are being renegotiated. In order to minimize the adverse effects of Covid-19, parties have begun to seek solutions and find common ground by compromising on their legitimate claims. The construction industry's negative effects have significantly influenced the floor covering business.

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. The increased focus on green buildings and rising usage of eco-friendly flooring products in Saudi Arabia are 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, propelling the growth of the market studied.

The country is one of the largest countries importing ceramic tiles. Moreover, the increasing focus of domestic companies on expanding their operations and technological developments, such as the use of digital printing technology, is expected to positively influence the country's flooring industry.

Saudi Arabia held the largest share in the global market in the ceramic segment in 2020, accounting for around 37%. 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 to construct new travel facilities, such as airports, railways, and roadways, or remodel the existing facilities.

The GCC’s demand for high-value ceramic tile is met through imports 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 2020

Increasing end-user applications and product and process innovations in 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.

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. Saudi Arabia accounted for a revenue share of 36% in the global market in 2020.

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.

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