Saudi Arabia is the largest consumer and producer of tiles in the GCC region. Growth in the market is anticipated on account of growing number of infrastructure development projects in line with the governmentŐs aim to diversify its oil-based economy. Tile consumption is also expected to increase in the coming years due to construction of multibillion-dollar project NEOM', growing focus towards green buildings and smart city development projects. Moreover, increasing focus of domestic companies towards expanding their operations and technology developments such as use of digital printing technology is expected to positively influence the country's tiles market over the course of next five years.
Key Market Trends
Housing Sector is Driving the Market for Tiles
The number of new residential buildings or individual houses rose rapidly over the years in the country. Some of the other factors that have been proactive in maintaining the demand for tiles are Increasing urbanization, advancements in technology, inflating incomes, and growth in population which has resulted in added housing requirements. Manufacturers are thus focusing on the production of ceramic tiles for housing purposes. Thus, the housing sector and new installation activities are anticipated to drive growth of the ceramic tiles market. The growing urbanization in the region is expected to propel population growth in the cities and this will increase the demand for utilities, leading to increased housing demand in the region. The trend is expected to drive the market growth of the region.
Ceramic Tiles Segment
Ceramic tiles are thin slabs of clay or other inorganic materials, hardened by oven firing and usually coated with glaze. The ceramic tiles production industry is witnessing a rising trend of digital inkjet printing technology for decoration of tiles. These products are commercially available in a wide range of colors, sizes, and textures, thus are gaining consumer attraction for high-end flooring applications. Growing industrialization, urbanization, and an increase in disposable income are estimated to have a positive impact on the demand for ceramic tiles. The growth of the ceramic tiles market can be attributed to the growing consumption of residential buildings, hospitals, and laboratories among others owing to their durability and low price. Ceramic tiles are available in different glaze options and styles, which range from traditional to western. With consumers seeking stylish and less expensive flooring options, their demand has significantly increased over the past few years.
The report covers major international players operating in the Saudi Arabia tiles market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.