Cement Market Size in Saudi Arabia to increase by 1.66 Mn Tons| Market Research Insights highlight the Launch of Saudi Vision 2030 as Key Driver | Technavio

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Nov 12, 2021, 03:00 ET

NEW YORK, Nov. 12, 2021 /PRNewswire/ -- According to the research report "Cement Market in Saudi Arabia - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 5.60% in 2021, growing at a CAGR of 6% between 2020 and 2025.

Central Saudi Arabia is the largest market for cement. Factors such as the launch of Saudi Vision 2030 and the construction of low-power-consuming cement plants are driving the cement market growth in Saudi Arabia.

Attractive Opportunities in Cement Market in Saudi Arabia by Application and Region - Forecast and Analysis 2021-2025

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Vendor Insights

The cement market in Saudi Arabia is concentrated with 17-19 market players in the country. The vendors are deploying organic and inorganic growth strategies to compete in the market.

The vendors in the market are further encouraging the launch of new products and expanding their establishments post the ban on the export of cement was lifted in mid-2017. The relaxation of the ban was to help in the recovery of the construction industry. Furthermore, the dominant vendors are deploying several strategies to mark their positions in the construction industry across the gulf countries.

For Instance, Al Safwa Ltd. offers a wide variety of cement used in construction and crafting including POZZOLANIC PORTLAND SUPER CEMENT - PPC 52.5N, PORTLAND CEMENT OPC 52.5N, JODDRAN SUPER 32.5N, PRECASTO 52.5R, SULFATE RESISTANCE CEMENT SRC 52.5N, etc.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.

Key Market Trends & Challenges:

The report identifies the construction of low-power-consuming cement plants as one of the prominent trends likely to drive the market. With fuel and energy costs typically representing approximately 30%-40% of total production costs, the cement industry is one of the world's highest energy-intensive industries. As a result, cement vendors in the region are focusing on adopting alternate ways to counter the expected increase in production costs due to energy subsidies. For instance, Yamama Cement and Saudi Cement, are investing in new infrastructure to increase production efficiency and reduce power consumption. This will further drive the market to witness considerable growth during the forecast period.

The ex-pat levy on foreign nationals will be a major challenge for the cement market in Saudi Arabia. This ex-pat levy is especially taxing on companies that have a workforce comprising more foreign nationals than Saudi nationals. The government of Saudi Arabia implemented an ex-pat levy on sponsoring foreign nationals. This monthly levy, which is applicable for both employees and their dependents, is expected to increase at a steady rate over a four-year period.

View free sample for highlights on market Trends & Challenges affecting the cement market in Saudi Arabia.

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Cement Market In Saudi Arabia Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 6%
Market growth 2021-2025	1.66 million tons
Market structure	Concentrated
YoY growth (%)	5.60
Regional analysis	Saudi Arabia
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Al Safwa Ltd., Arabian Cement Co. SAE, Epcco Publishing Group Ltd., Najran Cement Co., Northern Region Cement Co., Saudi Cement Co., Southern Province Cement Co., Umm Al Qura Cement Co., Yamama Saudi Cement Co., and Yanbu Cement Co.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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