Rise in construction activities and growing economy is expected to drive the Saudi Arabia Cement market in the forecast period.
According to TechSci Research report, “Saudi Arabia Cement Market By Type (Portland, Blended, Others) By Application (Residential, Commercial, Infrastructure, Industrial and Institutional), By Region, Company Forecast & Opportunities, 2026”, The Saudi Arabia Cement market is expected to witness steady growth in the next five years. Cement is one of the crucial key materials used in the construction process. Cement is manufactured by using raw materials such as limestone, sand, and clay which are widely available in Saudi Arabia. Cement is used as a binding agent for concrete, mortar, stucco, among others. Also, the availability of affordable petroleum fuel lowers the cost of cement manufacturing. The production costs associated with cement manufacturing are expected to witness a surge in the forecast period owing to the cut in energy subsidies. To optimize the growing costs, cement manufacturers and key players are investing in new infrastructure projects which aids in lower power consumption. Installation of advanced equipment integrated with advanced technology is expected to enhance the quality of the cement produced meanwhile improving the overall efficiency and performance of the equipment used for the cement production. An increase in the construction activity in residential, commercial, industrial, and institutional sectors is the major driving factor for the market growth. Increasing construction of airports and road construction projects is fueling the demand for the cement market in the next five years. Ongoing metro projects such as Riyadh Metro to increase the connectivity between different regions of the country and make traveling easier and convenient for the individuals is expected to foster the growth of the cement market. With the growing population, the demand for public infrastructure and non-residential buildings including schools, hospitals, among others contributed to fuel the growth of the cement market.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected countries adversely. Leading authorities of Saudi Arabia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Due to the ongoing pandemic, the construction activities were temporarily stopped. Workers migrated back to their native places which led to a shortage of workforce during this period. Also, due to strict regulations, disruption in the supply chain was observed which adversely affected the cement market growth.
However, environmental regulations restricting lower emission of carbon may hamper the Cement market growth in the forecast period.
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Saudi Arabia Cement market is segmented into type, application, regional distribution, and company. Based on application, the market can be divided into residential, commercial, infrastructure, industrial and institutional. The infrastructure segment is expected to witness growth in the forecast period, 2022-2026. The growing need for infrastructural developments of malls, airports, transport, healthcare, education, roads, dams, among others is the driving factor for this segment. Huge expenditure by the government and promotional initiatives by the leading authorities is also contributing to accelerate the market growth.
Arabian Cement Company, Saudi Cement, Yanbu Cement Company, Yamama Saudi Cement Company, Southern Province Cement Company. Najran Cement Company, Kiran Saudi Arabia Chems, Alkifah Building Materials Company, Qassim Cement Company, Saudi White Cement Co and Riyadh Cement Co are the leading players operating in Saudi Arabia Cement market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several Cement manufacturers are coming up with their technologically advanced offerings.
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“The rise in the adoption of green cement for construction activities to construct eco-friendly and sustainable buildings is expected to influence market growth. Green cement is manufactured by using a carbon-negative manufacturing technique that aids in minimizing pollution by reducing the carbon footprint thereby is expected to witness substantial growth in the next five years. Also, the strong economic position of Saudi Arabia coupled with construction projects such as Saudi Vision 2030 and Neom City construction is expected to propel the growth of the cement market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.
“Saudi Arabia Cement Market By Type (Portland, Blended, Others) By Application (Residential, Commercial, Infrastructure, Industrial and Institutional), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia Cement market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Saudi Arabia Cement market.
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