Saudi Arabia Marble Market (2024-2030) | Revenue, Forecast, Size, Analysis, Growth, Companies, Value, Industry, Share, Trends & Outlook

Saudi Arabia Marble Market Synopsis

The Saudi Arabia marble market is expected to register a CAGR of over 5.1% during the forecast period of 2020-2026. The rising number of construction projects in the country, along with growing investment from domestic and international players, are expected to drive the demand for marble products in Saudi Arabia. In addition, increasing private investments for residential and commercial developments are further augmenting the growth of this sector. Moreover, government initiatives such as National Transformation Program (NTP), Vision 2030, Smart City Program etc., have attracted more business investments into real estate development which has created opportunities for marble suppliers in Saudi Arabia.

Market Drivers

Rising number of construction activities in both public and private sectors has led to increased demand for marble products used extensively across varied application areas like flooring & cladding, countertops & tabletops etc.. With rapid urbanization taking place throughout the country due to favorable government policies and initiatives towards infrastructure development activities is driving demand for marbles too. The various governmental policies such as NTP 2020 (National Transformation Plan), Vision 2030 etc., encouraging foreign direct investment which has resulted in huge capital inflows into real estate and other related industries like hospitality sector leading to an increase in usage rate of marbles across all these verticals thereby boosting market revenue potentials considerably over time frame under consideration.

Challenges of the Market

Although there exists significant price range variation between different types and grades available depending upon natural mineral composition cost associated with it generally remain on higher side making it unaffordable option especially when considering large scale constructions or interior decoration works at commercial buildings . This factor could hamper overall industry??s growth prospects going forward despite few positives associated with it mentioned above .

Covid 19 Impact on the Market

The Covid-19 pandemic has had an adverse impact on the marble industry in Saudi Arabia due to restrictions imposed by the government; however, it is anticipated that post recovery from the health crisis, there will be increased investments in construction activities which will generate higher demand for marble products. This offers lucrative opportunities for manufacturers and suppliers of these products.

key players of the Market

Key players operating in the Marble Market include Al Rashed Group, Rayyan Group Trading & Contracting Co., Arabia Shield Development & Construction Company LLC., J&M Natural Stone Co., Design Stone Works (DSW), Granite World International Ltd., National Tiles Factory LTD and Al Ajmi Marble Company among others.

Key Highlights of the Report:

• Saudi Arabia Marble Market Outlook
• Market Size of Saudi Arabia Marble Market, 2023
• Forecast of Saudi Arabia Marble Market, 2030
• Historical Data and Forecast of Saudi Arabia Marble Revenues & Volume for the Period 2020-2030
• Saudi Arabia Marble Market Trend Evolution
• Saudi Arabia Marble Market Drivers and Challenges
• Saudi Arabia Marble Price Trends
• Saudi Arabia Marble Porter's Five Forces
• Saudi Arabia Marble Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Colour Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By White for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Black for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Yellow for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Red for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Building & Construction for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Statues and Monuments for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Furniture for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Marble Market Revenues & Volume By Others for the Period 2020-2030
• Saudi Arabia Marble Import Export Trade Statistics
• Market Opportunity Assessment By Colour Type
• Market Opportunity Assessment By Application
• Saudi Arabia Marble Top Companies Market Share
• Saudi Arabia Marble Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Marble Company Profiles
• Saudi Arabia Marble Key Strategic Recommendations