The marble and granite industry in the Kingdom of Saudi Arabia is poised for significant growth, with the market size projected to reach approximately USD 1,229.2 million in 2023 and an impressive USD 5,662.2 million by 2033. This remarkable expansion reflects a robust compound annual growth rate (CAGR) of 16.5% over the assessment period. The increasing demand for marble and granite can be attributed to the rapid urbanization, construction boom, and infrastructural development initiatives in the region, positioning Saudi Arabia as a burgeoning hub for natural stone products in the Middle East.
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.
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.
The marble and granite industry in the Kingdom of Saudi Arabia (KSA) is witnessing several key trends that are shaping its future:
- Rapid Urbanization and Infrastructure Development: KSA is experiencing significant urban growth, driven by ambitious projects like NEOM and the Red Sea Project. This urban expansion is increasing the demand for high-quality marble and granite in construction, landscaping, and interior design.
- Diversification of Product Offerings: Manufacturers are diversifying their product lines to include a variety of finishes, colors, and patterns, catering to both traditional and modern architectural styles. This trend allows for customization and enhances the appeal of marble and granite in residential and commercial projects.
- Sustainability and Eco-Friendly Practices: There is a growing emphasis on sustainable practices within the industry, including the use of eco-friendly quarrying methods and recycling of waste materials. Companies are increasingly adopting sustainable practices to meet both regulatory requirements and consumer preferences for environmentally responsible products.
- Technological Advancements: The integration of advanced technologies, such as 3D modeling and automated cutting machines, is improving the efficiency and precision of marble and granite processing. This trend enhances product quality while reducing waste, making operations more cost-effective.
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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
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