Saudi Arabia Cement Market is Expected to Rise at a Remarkable CAGR During 2015 to 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/26/2017 -- Zion Market Research has published a new report titled "Cement Market for Residential, Commercial, Infrastructure and Other Applications: Saudi Arabia Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020" According to the report, Saudi arabia region demand for cement was valued at USD 3.90 billion in 2014 and is expected to reach USD 5.27 billion in 2020, growing at a CAGR of slightly above 5.1% between 2014 and 2020. In terms of volume, the cement market in the Saudi Arabia stood at 61,000 kilo tons in 2014.
Cement is a one of the key binding material used in construction industry. Cement act as a binding agent for mortar, concrete, non-specialty grouts, and stucco, etc. Cement is manufactured from raw materials such as limestone, sand, and clay. These kinds of raw materials are widely available in Saudi Arabia. Additionally, cheap and widely available petroleum fuel has been resulted into cost effective manufacturing of cement in the region. Various physical and chemical properties of cement such as high durability, high dependability, cost-effectiveness, and versatility are favorable for construction applications.
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Key factors driving the demand for cement market in Saudi Arabia is increasing the construction activity in different segments such as commercial, residential, industrial and infrastructure. The rapidly growing population has resulted in growing demand for residential & commercial buildings as well as infrastructure. Residential application market for cement in Saudi Arabia is expected to witness strong growth during the forecast period. Infrastructure is one of the largest segment, which accounted for around 50% share of the total market in 2014. Infrastructure refers to the construction that includes roads, bridges, canals, and dams. The increasing number of airports and road construction projects are anticipated to boost the cement market in Saudi Arabia. Commercial application is the second largest application segment of the market in 2014, which includes construction of walls, floors, exterior walkways and pavements of commercial buildings.
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The cement market was dominated by Central region of Saudi Arabia, which accounted for slightly above 32% share of the Saudi Arabia market in 2014. Saudi Arabia was followed by the Western, Eastern, Southern and Northern regions respectively. Cement market in the central region is also expected to witness rapid growth as compared to other regions. Over the past few years, there has been an increase in construction activities in the Saudi Arabia, especially in the eastern and central provinces. Various cities in the Kingdom have initiated infrastructure projects, thereby fuelling demand for cement. Strong economic growth in the Saudi Arabia is expected to fuel the growth of the cement market in various cities of the Saudi Arabia.
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The manufacturing companies of cement have a significant impact on the value chain through a higher degree of vertical integration. These companies manufacture raw materials as well as the final product. Some of the key players operating in the Saudi Arabia cement market include Saudi Cement Company, Riyadh Cement Company, Yamama Cement Company, and Najran Cement Company. This report segments the global market as follows:
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