Government Reforms and Vision 2030 Fuel Growth in Saudi Construction Sheets Market

According to the latest market research study published by P&S Intelligence, the Saudi Arabian building and construction sheets market is poised for steady growth, with its size estimated at USD 6,256.1 million in 2024 and projected to reach USD 7,919.3 million by 2030, reflecting a CAGR of 4.0% during the forecast period. This upward trajectory is primarily driven by the nation's expanding construction industry, fueled by a rising population, accelerating urbanization, and a robust economy.

Central to this growth is the Saudi Vision 2030 initiative, which aims to diversify the economy beyond oil dependency. The initiative has spurred numerous construction projects across sectors such as healthcare, education, and tourism, thereby increasing the demand for building and construction sheets. Notably, government policies encouraging both domestic and foreign investments in real estate, including the authorization for non-Saudi residents to invest in properties within Makkah and Madinah, have further bolstered the market.

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Key Insights

• Material Segmentation: The market is segmented by materials including bitumen, rubber, metal, and polymer. Each material caters to specific construction needs, offering versatility and adaptability across various applications.
• Application Areas: Building and construction sheets are utilized in diverse applications such as flooring, walls and ceilings, windows, doors, roofing, and plumbing. This wide range of uses underscores their integral role in both structural and aesthetic aspects of construction.
• End-Use Sectors: The residential sector emerges as the largest end-user, driven by the increasing demand for housing due to population growth. Commercial and industrial sectors also contribute significantly, reflecting the country's broader infrastructural development.
• Functional Uses: These sheets serve multiple functions including bonding, protection, insulation, glazing, and sound and waterproofing, highlighting their multifaceted utility in construction projects.
• Regional Dynamics: Al-Riyadh province leads the market in terms of size, attributed to its status as the capital and a hub for numerous development projects. Conversely, Al-Madinah province is identified as the fastest-growing region, indicating a shift in developmental focus and investment.
• Market Structure: The market is characterized as fragmented, suggesting the presence of numerous players and a competitive landscape. This structure encourages innovation and offers opportunities for new entrants to establish a foothold.
• Economic Diversification Efforts: The government's push to diversify the economy has led to increased investments in sectors like tourism and manufacturing, indirectly propelling the construction industry and, by extension, the demand for construction sheets.
• Foreign Investment Policies: By opening up real estate investment opportunities to non-Saudi residents, particularly in key regions like Makkah and Madinah, the government has created a conducive environment for market expansion and increased demand for construction materials.
• Urbanization Trends: The rapid urbanization rate necessitates the development of new residential and commercial infrastructures, thereby sustaining the demand for building and construction sheets.
• Sustainability Considerations: With a growing emphasis on sustainable construction practices, there is an increasing preference for materials that offer energy efficiency and environmental benefits, influencing material choices within the market.