Press Release-Saudi Arabia Cement Market to Reach USD 1.87 Billion by 2032

According to analysts at Vantage Market Research, the Saudi Arabia Cement Market size is worth USD 1.08 Billion in 2023 and is projected to reach USD 1.87 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 6.3% from 2024 to 2032. The market is driven by increased demand for residential and commercial construction, alongside a growing focus on sustainable building practices, further boosts cement consumption. 

Market Overview

Infrastructure development is a major driver of the Saudi Arabian cement market, propelled by the Kingdom's Vision 2030 initiative. This vision focuses on expanding and modernizing infrastructure across sectors such as transportation, utilities, healthcare, and tourism. Major projects like the Riyadh Metro, new airports, roads, bridges, and hospitals require significant quantities of cement. The government's push to diversify the economy from oil dependency has led to substantial investments in these projects, creating a robust demand for cement & construction materials. These developments not only stimulate economic growth but also enhance Saudi Arabia's appeal for foreign investment & local employment opportunities. As these infrastructure projects advance, the cement sector plays a crucial role in supporting Vision 2030's goals and driving both economic expansion and urban development.

The market deal with significant regulatory and compliance challenges. Stringent environmental regulations govern various aspects of cement production, including air quality, water resources, and health & safety standards. Cement manufacturers face increased operational costs due to investments in pollution control technologies and adherence to emission limits for pollutants such as particulate matter, NOx, and SO2.

Key Takeaways from the Report

• In 2023, Saudi Arabia had an installed cement capacity of 85 Mt/yr, with 22 active plants. The capacity utilization rate was just over 60%, with self-sufficiency in clinker production and exports of 4-5 Mt/yr
• The cement market is competitive, with top players like Saudi Cement, Southern Province Cement, and Yanbu Cement holding 37% of the total capacity. Yamama leads in sales with a 13% market share
• Cement demand is highest in the Central region of Saudi Arabia, with urban areas like Riyadh, Jeddah, and Dammam being major consumers. Despite regional surpluses, the demand-supply gap is expected to narrow by 2028

Top Companies

• Holcim Ltd
• Saudi Cement
• Heidelberg Materials AG
• Cemex SAB de CV
• Buzzi SpA
• Yanbu Cement
• CRH plc

Report Coverage

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