NEW YORK, Jan. 10, 2022 /PRNewswire/ -- The cement market in Saudi Arabia is expected to grow by 1.66 mn tons from 2020 to 2025, as per Technavio. Moreover, healthy growth is expected to continue throughout the forecast period, and the market will grow at a CAGR of 6%.

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Drivers and Trends
The cement market in Saudi Arabia is driven by the launch of Saudi Vision 2030. This project aims to improve the country's economic development while minimizing the dependence on its oil resources. The National Transformation Program 2020 was announced to reach these goals. The vision of the country's government to reduce the dependency on its oil resources is expected to drive the growth of the construction segment for both residential and non-residential construction projects. This is expected to be a significant driver for the cement market in Saudi Arabia. The expected growth in infrastructure for healthcare, real estate, and religious tourism through proposed non-citizen ownership, retail, and development of cities and sectors is expected to continue to drive the cement market in Saudi Arabia during the forecast period.

The construction of low-power-consuming cement plants is a major trend in the cement market in Saudi Arabia. Cement vendors are looking for alternative methods to counter the expected increase in production costs driven by the proposed cut in energy subsidies during the forecast period. Major players in the cement market in Saudi Arabia, such as Yamama Cement and Saudi Cement, are investing in new infrastructure to increase production efficiency and reduce power consumption. This trend is expected to balance the expected increase in production costs over the long term.

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Some of the Key Players in the Cement Market in Saudi Arabia:

• 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.
• Yanbu Cement Co.

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Cement Market In Saudi Arabia Application Outlook (Revenue, USD mn tons, 2020-2025)

• Residential - size and forecast 2020-2025
• Commercial - size and forecast 2020-2025

Cement Market In Saudi Arabia Geography Outlook (Revenue, USD mn tons, 2020-2025)

• Central - size and forecast 2020-2025
• Western - size and forecast 2020-2025
• Southern - size and forecast 2020-2025
• Eastern - size and forecast 2020-2025

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SOURCE Technavio