The Kingdom of Saudi Arabia’s marble and granite industry is poised for significant growth, with projections indicating a substantial increase in market size. Anticipated to reach US$ 1,229.2 million by 2023 and an impressive US$ 5,662.2 million by 2033, the sector is expected to experience a robust compound annual growth rate (CAGR) of 16.5% over this period. This surge in demand underscores the nation’s burgeoning appetite for marble and granite, reflecting a promising trajectory for the industry in Saudi Arabia.
Based on application, the flooring segment is expected to dominate the Kingdom of Saudi Arabia marble and granite business through 2033. It is projected to hold a volume share of 44.9% by 2023. This is due to growing usage of granite and marble for flooring applications.
KSA’s construction sector is expanding at an impressive rate due to the construction of new buildings, highways, and several infrastructure projects. This is creating a higher demand for marble and granite, and the trend is expected to continue through 2033.
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The need for housing is rising due to the growing population, further supporting KSA’s business expansion. The demand for structures and commercial spaces is also expanding due to the rising urbanization and industrialization, creating growth prospects for companies.
The rising demand for granite and marble directly relates to Saudi Arabia’s infrastructure development. The country is investing rigorously in large-scale projects, including bridges, road networks, airports, and residential and commercial projects. This is expected to bolster sales of marble & granite.
Marble and granite offer durability and aesthetic adaptability and are integral to forming the Kingdom’s changing architectural landscape. Famous instances include the King Khalid International Airport extension in Riyadh and the Riyadh Metro project, which uses large amounts of marble and granite, demonstrating the materials’ superior quality.
Key Takeaways from the Report
- The Kingdom of Saudi Arabia marble and granite business is projected to thrive at 16.5% CAGR through 2033.
- By product type, the granite segment is expected to total US$ 3,761.9 million in 2033.
- By application, the flooring segment is set to hold a significant share of 44.8% in 2023.
- West KSA is expected to account for a significant share of about 42.4% in 2023.
- Revenue in Northwest KSA is anticipated to total US$ 2,574.1 million in 2033.
“The KSA marble and granite business is set to expand rapidly through 2033, driven by substantial investments in large-scale projects and expanding infrastructure. Saudi Arabia’s commitment to sophisticated urban development positions the marble and granite industry as a vital player in shaping the nation’s architectural landscape,” Says an analyst at Future Market Insights, Inc.
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Who is Winning?
Leading players listed in the report include SMG Company, Marmotech, Al Takadom, Awtad Al-Riyadh, and Products Holding Company (CPC). These key players are forming partnerships and alliances with construction companies to provide marble and granite.
Key Companies Profiled:
- SMG Company
- Marmotech
- Al Takadom
- Awtad Al-Riyadh
- Constructions Products Holding Company (CPC)
- Al Ajial Factory Co. Ltd
- Baaghil Factory
- Dar Al Rokham LLC
- Bin Harkil Co. Ltd,
- Nesma Orbit
- Fanar Marble
- Marble Boutique
- Alfurat Company
Recent developments:
- In September 2023, GLAZE Granite & Marble introduced KOZO to revolutionize architectural surfaces.
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KSA Marble and Granite Industry Segmentation by Category
By Product Type:
- Marble
- Granite
By Application:
- Flooring
- Countertops
- Cladding
- Others
By End User:
- Government
- Others
By Region:
- North
- West
- Centre
- Northwest
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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