The Future of the Building and Construction Sheets Market in Saudi Arabia: Opportunities and Challenges from Maria Yardena's blog

Market Overview

In 2024, the Saudi Arabian building and construction sheets industry valued size will be USD 6,256.1 million in 2024, and it is expected to attain USD 7,919.3 million by the end of the decade, developing at a CAGR of 4.0% during the projection period. It will be because of the rising construction sector, along with the increasing populace, growing rate of urbanization, and thriving economy of Saudi Arabia.

A growing number of government steps in Saudi Arabia under Saudi Vision 2030 target to expand the economy and lessen the dependency on income from oil. These initiatives revolve around huge building activities in several industries, like hospitality, healthcare and education, therefore driving the need for building and construction sheets. The growing populace in the nation is fuelling the need for housing, healthcare services, and other bits of commercial and civic infrastructure.

The Saudi government is actively participating in promoting investment in the facilitate real estate investment by the local as well as the international companies as means of boosting the economy of the Saudi Arabia. For instance, the Capital Market Authority (CMA) in November 2021 extended rights to invest in Real Estate for non-Saudi residents in Makkah and Madinah. There is Vision 2030 National Development Plan which is the strategy map of from Saudi Arabia, and one of the key integrated growth projects being embarked on is the Ad-Diriyah Integrated Growth project.

Key Insights

•In 2024, metals account for the largest industry share of 45%, credited to their strength and adaptability in construction applications like roofing and cladding.

•Polymers are projected to be the fastest-developing category over the decade as plastic sheets provide defensive wrap and insulation for buildings.

•In 2024, the roofing category grips the largest share in of 35%, vital for building construction, needing robustness, thermal resistance, and water-repellence.

•Growing development, infrastructure growth, and government steps like Vision 2030 propels substantial need for roofing materials.

•The residential category had the largest share and is estimated to advance at a CAGR of 4.5% because of the increasing populace and need for residential buildings, supported by government housing initiatives.

•The residential sector includes single-family homes, apartment buildings, and housing complexes, all requiring construction sheets for various applications.

•Protection accounts for the largest share in 2024 and is expected to grow at a CAGR of 4.2% due to the rising demand for building protection from harsh climates, UV radiation, and dust.

•Insulation is projected to be the fastest-growing category due to new product launches providing thermal insulation.

•Al-Riyadh holds the largest province share in 2024 at 40%, attributed to large-scale construction projects and government initiatives.

•Al-Madinah is expected to be the fastest-growing province with a CAGR of 4.7%, driven by urbanization and the increasing demand for residential and commercial buildings.

Source: P&S Intelligence