Saudi Arabia's ceramic tiles market is poised for solid growth over the next five years mainly due to key factors such as surging demand for construction and evolvement of infrastructure industry for the increasing developments in the country, according to TechSci, a research-based global management consulting firm.
The kingdom's ceramic tiles market has shown promising growth in historical years until 2019 and is expected to continue this growth momentum in upcoming forecast years 2021 to 2026, it stated.
Moreover, evolving infrastructure in the commercial sector like buildings for hospitals, law enforcement agencies, etc is further aiding the growth of the market, said TechSci report.
Additionally, increasing capital inflow into the real-estate sector, and growing infrastructural development and construction activities are expected to positively influence the Saudi Arabia ceramic tiles market growth in the future five years of forecast until 2026.
Furthermore, favourable government policies to promote and support the infrastructure development in the countries is further aiding the growth of the Saudi ceramic tiles market in the next five years, it stated.
According to TechSci report, new construction type is anticipated to hold the largest revenue shares of the market and assert its dominance over the market segment on the account of rapidly increasing urbanization.
New buildings, infrastructures, and evolving economics in the infrastructure sector is playing a major role in the growth of the Saudi Arabia ceramic tiles market in the upcoming five years, it stated.
According to TechSci, restoration of existing structures for home decor purposes has boosted the requirement for ceramic tiles and increasing repair, rebuilding, and restoration activities of existing infrastructure.
Based on type, the market is further divided between glazed, porcelain, and unglazed, it stated.
Glazed ceramic tiles are anticipated to hold the largest revenue shares of the market and dominate the segment o the account of surging demands from the consumers.
Moreover, the glazed ceramic tiles have the advantages like aesthetic outlook as well as the posh looking product of the ceramic tile, stated the TechSci report.
Also advancing science and technology is also substantiating the growth of the market on the account of using glazing products for the ceramic tiles such that the age of the ceramic tile can be prolonged, this market growth is attributed to be considered in the future five years of forecast until 2026, it added.
According to the report, porcelain ceramic tiles are expected to register fastest growing CAGR on the account of advancing technology that has manipulated the porcelain material for the maximum strength of the ceramic tiles.
The leading players in the Saudi ceramic tiles sector include RAK Ceramics, Saudi Ceramics, Al-Jawdah Porcelain & Ceramic Company, Nesma Orbit For Industrial Projects And Commerce, Arabian Tile Company (ARTIC), Forsan Ceramics, Arabian Ceramics Manufacturing Company Limited (ACMC), Riyadh Ceramics Factory, Future Ceramic Company (Factory) and Alfanar Ceramic & Porcelain Tile Factory.
"Ceramic tiles make up for a huge market in the upcoming five years on the demand of consumers for the aesthetic concepts in the infrastructure," said Karan Chechi, the research director with TechSci Research.
"Moreover, flooring application of the ceramic tiles is one of the most promising application. The consumer demand is highly influenced of the social media popularity of the product from various market players. Increasing number of market players in the country is also further substantiating the growth of the market," he noted.
"New market entrants must invest in the research and technological advancement to provide products that have longer life and ae durable to various accident and calamities. Aggressive advertisement would aid the brand establishment for the market player," he added.
Source: Trade Arabia