The Kingdom of Saudi Arabia marble & granite industry size is projected to reach US$ 1,229.2 million in 2023 and US$ 5,662.2 million in 2033. Over the assessment period, demand for marble and granite in KSA is projected to surge at a CAGR of 16.5%.
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.
Get a Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-18576
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.
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.
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