Saudi Arabia Roofing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Saudi Arabia Roofing Market size is estimated at USD 0.76 billion in 2024, and is expected to reach USD 1.02 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
Key Highlights
The roofing market in Saudi Arabia has experienced significant growth in recent years, driven by various factors such as urbanization, population growth, and infrastructure development. The country's hot climate and the need for durable and energy-efficient roofing solutions have also contributed to the demand for roofing materials and services.
One of the key drivers of the roofing market is the construction sector. Saudi Arabia has been investing heavily in construction projects, including residential, commercial, and infrastructure developments. As a result, the demand for roofing materials and services has increased substantially.
The residential segment accounts for a significant share of the market. The Saudi Arabian Housing Index rose to 82.69 in Q3 2023 from 82.50 in Q2 2023. From 2014 to 2023, the Housing Index averaged 86.44, peaking at 101.60 in Q4 2014 and falling to 80.10 in Q1 2019.
Government initiatives such as Vision 2030, which aims to diversify the economy and promote sustainable development, have further fueled the growth of the construction sector and, consequently, the roofing market.
In terms of roofing materials, there is a wide range of options available in the Saudi Arabian market. Traditional materials like clay tiles, concrete tiles, and metal sheets are commonly used. However, there has been a growing trend toward more advanced and energy-efficient materials such as solar panels and cool roofing systems. These materials help reduce energy consumption and provide sustainable solutions for the country's hot climate.
The roofing market in Saudi Arabia is also witnessing a shift toward green and sustainable practices. With a growing focus on environmental conservation, there is an increasing demand for eco-friendly roofing materials that promote energy efficiency and reduce carbon footprint. This trend is further supported by government regulations and incentives that encourage the adoption of sustainable building practices.
In terms of market players, both local and international companies operate in the roofing market in Saudi Arabia. Local manufacturers and suppliers play a significant role in meeting the domestic demand for roofing materials. These companies often have a strong understanding of the local market and offer products tailored to the region's specific needs.
International companies also have a presence in the Saudi Arabian roofing market, bringing advanced technologies and expertise. This has resulted in healthy competition that benefits consumers by providing a wide range of options and ensuring high-quality products and services.
Another important aspect of the roofing market in Saudi Arabia is maintenance and repair services. Regular maintenance and occasional repairs become necessary to ensure the longevity and performance of the roofing systems as buildings age. Many companies in the country specialize in providing these services, offering inspections, repairs, and maintenance contracts to both residential and commercial clients.
Saudi Arabia Roofing Market Trends
The Demand From the Residential Segment is Increasing
The demand for roofing in the residential segment in Saudi Arabia has been on the rise in recent years. As the country experiences rapid population growth and urbanization, there is a growing need for residential buildings, which drives the demand for roofing materials and services.
One of the primary factors contributing to the demand for roofing in the residential segment is the government's focus on affordable housing initiatives.
The Saudi government has been actively promoting affordable housing projects to cater to the housing needs of its citizens. These initiatives have led to an increase in the contribution of residential buildings, creating a higher demand for roofing materials.
Additionally, the extreme climate conditions in Saudi Arabia, with scorching summers and occasional sandstorms, require durable and weather-resistant roofing solutions. This has further fueled the demand for high-quality roofing materials that can withstand harsh weather conditions and provide protection to residential buildings.
The preference for aesthetically pleasing and energy-efficient solutions has also influenced the demand in the residential segment. Homeowners are increasingly seeking roofing materials that enhance the visual appeal of their homes while offering energy-saving benefits. This has led to a rise in the adoption of innovative roofing technologies and materials, such as solar panels and cool roofs, which help reduce energy consumption and lower utility costs.
The construction boom in Saudi Arabia, driven by various infrastructure development projects and the Vision 2030 initiative, has also contributed to the demand for roofing in the residential segment.
In the 12 months ending June 30, 2023, the average price of an apartment in Riyadh increased by 22.9%, while the average price in Dammam increased by 2.4%. The average price in Khobar decreased by 4.3%, and the average price in Jeddah decreased by 3.5%. The average price of a villa in each of the four major cities increased over the year-to-date (Q2 2023), with a rise of 3.9% in Riyadh, 5.0% in Dammam, and 20% in Jeddah. In Khobar, the average price increased by 2.3%.
The Market is Driven by Increasing Urbanization
Urbanization has been a major driving force behind the growth of the roofing market in Saudi Arabia. As more people move from rural areas to cities for better opportunities, the demand for housing and infrastructure has skyrocketed. This, in turn, has created a significant need for roofing materials and services.
Urbanization in Saudi Arabia has been fueled by several factors. Economic development and industrialization have led to the growth of cities and the establishment of new economic hubs. This has attracted a large influx of people from rural areas seeking employment and a better standard of living. As the urban population continues to rise, the demand for housing is expected to increase exponentially.
The government's focus on urban development and the Vision 2030 initiative have further accelerated urbanization in Saudi Arabia. The Vision 2030 plan aims to diversify the economy and reduce the dependence on oil by promoting sectors such as tourism, entertainment, and technology. This includes the establishment of new cities and mega-projects, including NEOM and Qiddiya, which require extensive roofing solutions.
In 2022, Saudi Arabia's urban population accounted for approximately 84.73% of the country's total population.
Saudi Arabia Roofing Industry Overview
The roofing market in Saudi Arabia is competitive in nature, with both local and international players vying for market share.
Local manufacturers and suppliers play a significant role in the Saudi Arabian roofing market. In addition to local players, international companies also have a significant presence in the Saudi Arabian roofing market. These companies offer advanced technologies, expertise, and a wide range of roofing materials to cater to the diverse needs of customers.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Highlights
The roofing market in Saudi Arabia has experienced significant growth in recent years, driven by various factors such as urbanization, population growth, and infrastructure development. The country's hot climate and the need for durable and energy-efficient roofing solutions have also contributed to the demand for roofing materials and services.
One of the key drivers of the roofing market is the construction sector. Saudi Arabia has been investing heavily in construction projects, including residential, commercial, and infrastructure developments. As a result, the demand for roofing materials and services has increased substantially.
The residential segment accounts for a significant share of the market. The Saudi Arabian Housing Index rose to 82.69 in Q3 2023 from 82.50 in Q2 2023. From 2014 to 2023, the Housing Index averaged 86.44, peaking at 101.60 in Q4 2014 and falling to 80.10 in Q1 2019.
Government initiatives such as Vision 2030, which aims to diversify the economy and promote sustainable development, have further fueled the growth of the construction sector and, consequently, the roofing market.
In terms of roofing materials, there is a wide range of options available in the Saudi Arabian market. Traditional materials like clay tiles, concrete tiles, and metal sheets are commonly used. However, there has been a growing trend toward more advanced and energy-efficient materials such as solar panels and cool roofing systems. These materials help reduce energy consumption and provide sustainable solutions for the country's hot climate.
The roofing market in Saudi Arabia is also witnessing a shift toward green and sustainable practices. With a growing focus on environmental conservation, there is an increasing demand for eco-friendly roofing materials that promote energy efficiency and reduce carbon footprint. This trend is further supported by government regulations and incentives that encourage the adoption of sustainable building practices.
In terms of market players, both local and international companies operate in the roofing market in Saudi Arabia. Local manufacturers and suppliers play a significant role in meeting the domestic demand for roofing materials. These companies often have a strong understanding of the local market and offer products tailored to the region's specific needs.
International companies also have a presence in the Saudi Arabian roofing market, bringing advanced technologies and expertise. This has resulted in healthy competition that benefits consumers by providing a wide range of options and ensuring high-quality products and services.
Another important aspect of the roofing market in Saudi Arabia is maintenance and repair services. Regular maintenance and occasional repairs become necessary to ensure the longevity and performance of the roofing systems as buildings age. Many companies in the country specialize in providing these services, offering inspections, repairs, and maintenance contracts to both residential and commercial clients.
Saudi Arabia Roofing Market Trends
The Demand From the Residential Segment is Increasing
The demand for roofing in the residential segment in Saudi Arabia has been on the rise in recent years. As the country experiences rapid population growth and urbanization, there is a growing need for residential buildings, which drives the demand for roofing materials and services.
One of the primary factors contributing to the demand for roofing in the residential segment is the government's focus on affordable housing initiatives.
The Saudi government has been actively promoting affordable housing projects to cater to the housing needs of its citizens. These initiatives have led to an increase in the contribution of residential buildings, creating a higher demand for roofing materials.
Additionally, the extreme climate conditions in Saudi Arabia, with scorching summers and occasional sandstorms, require durable and weather-resistant roofing solutions. This has further fueled the demand for high-quality roofing materials that can withstand harsh weather conditions and provide protection to residential buildings.
The preference for aesthetically pleasing and energy-efficient solutions has also influenced the demand in the residential segment. Homeowners are increasingly seeking roofing materials that enhance the visual appeal of their homes while offering energy-saving benefits. This has led to a rise in the adoption of innovative roofing technologies and materials, such as solar panels and cool roofs, which help reduce energy consumption and lower utility costs.
The construction boom in Saudi Arabia, driven by various infrastructure development projects and the Vision 2030 initiative, has also contributed to the demand for roofing in the residential segment.
In the 12 months ending June 30, 2023, the average price of an apartment in Riyadh increased by 22.9%, while the average price in Dammam increased by 2.4%. The average price in Khobar decreased by 4.3%, and the average price in Jeddah decreased by 3.5%. The average price of a villa in each of the four major cities increased over the year-to-date (Q2 2023), with a rise of 3.9% in Riyadh, 5.0% in Dammam, and 20% in Jeddah. In Khobar, the average price increased by 2.3%.
The Market is Driven by Increasing Urbanization
Urbanization has been a major driving force behind the growth of the roofing market in Saudi Arabia. As more people move from rural areas to cities for better opportunities, the demand for housing and infrastructure has skyrocketed. This, in turn, has created a significant need for roofing materials and services.
Urbanization in Saudi Arabia has been fueled by several factors. Economic development and industrialization have led to the growth of cities and the establishment of new economic hubs. This has attracted a large influx of people from rural areas seeking employment and a better standard of living. As the urban population continues to rise, the demand for housing is expected to increase exponentially.
The government's focus on urban development and the Vision 2030 initiative have further accelerated urbanization in Saudi Arabia. The Vision 2030 plan aims to diversify the economy and reduce the dependence on oil by promoting sectors such as tourism, entertainment, and technology. This includes the establishment of new cities and mega-projects, including NEOM and Qiddiya, which require extensive roofing solutions.
In 2022, Saudi Arabia's urban population accounted for approximately 84.73% of the country's total population.
Saudi Arabia Roofing Industry Overview
The roofing market in Saudi Arabia is competitive in nature, with both local and international players vying for market share.
Local manufacturers and suppliers play a significant role in the Saudi Arabian roofing market. In addition to local players, international companies also have a significant presence in the Saudi Arabian roofing market. These companies offer advanced technologies, expertise, and a wide range of roofing materials to cater to the diverse needs of customers.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Insights on Supply Chain/Value Chain Analysis of the Roofing Industry
4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
4.5 Cost Structure Analysis of the Roofing Industry
4.6 Impact of COVID-19
5 MARKET DYNAMICS
5.1 Drivers
5.1.1 Climate and weather conditions
5.1.2 Growing awareness of energy efficency
5.2 Restraints
5.2.1 Economic factors
5.2.2 Regulatory and Permitting processes
5.3 Opportunitites
5.3.1 Demand for Solar Roofing
5.3.2 Increasing Digitalization and Technology integration
5.4 Industry Attractiveness - Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers/Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 By Roofing Material
6.1.1 Bituminous Roofing
6.1.2 Metal Roofing
6.1.3 Tile Roofing
6.1.4 Others
6.2 By Roofing Type
6.2.1 Flat Roof
6.2.2 Slope Roof
6.3 By Application
6.3.1 Residential
6.3.2 Commercial
6.3.3 Industrial
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 Saudi Basic Industries Corporation (SABIC)
7.2.2 Saudi Ceramic Company
7.2.3 Saudi Bitumen Industries Co. Ltd (SABIT)
7.2.4 Saint-Gobain
7.2.5 Owens Corning
7.2.6 Al Watania for Industries (AWI)
7.2.7 Al Rajhi Building Solution Group
7.2.8 Arabian Fiberglass InsulationCompany (AFICO)
7.2.9 Al-Shahin Metal Industries
7.2.10 Alupco*
7.3 Other Companies
8 FUTURE OF THE MARKET
9 APPENDIX
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Insights on Supply Chain/Value Chain Analysis of the Roofing Industry
4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
4.5 Cost Structure Analysis of the Roofing Industry
4.6 Impact of COVID-19
5 MARKET DYNAMICS
5.1 Drivers
5.1.1 Climate and weather conditions
5.1.2 Growing awareness of energy efficency
5.2 Restraints
5.2.1 Economic factors
5.2.2 Regulatory and Permitting processes
5.3 Opportunitites
5.3.1 Demand for Solar Roofing
5.3.2 Increasing Digitalization and Technology integration
5.4 Industry Attractiveness - Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers/Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 By Roofing Material
6.1.1 Bituminous Roofing
6.1.2 Metal Roofing
6.1.3 Tile Roofing
6.1.4 Others
6.2 By Roofing Type
6.2.1 Flat Roof
6.2.2 Slope Roof
6.3 By Application
6.3.1 Residential
6.3.2 Commercial
6.3.3 Industrial
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 Saudi Basic Industries Corporation (SABIC)
7.2.2 Saudi Ceramic Company
7.2.3 Saudi Bitumen Industries Co. Ltd (SABIT)
7.2.4 Saint-Gobain
7.2.5 Owens Corning
7.2.6 Al Watania for Industries (AWI)
7.2.7 Al Rajhi Building Solution Group
7.2.8 Arabian Fiberglass InsulationCompany (AFICO)
7.2.9 Al-Shahin Metal Industries
7.2.10 Alupco*
7.3 Other Companies
8 FUTURE OF THE MARKET
9 APPENDIX
