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Report
Saudi Arabia Fiber Glass Plaster Mesh Market Research Report Forecast to 2030
Market Report I 2023-12-13 I 88 Pages I Market Research Future
Saudi Arabia Fiber Glass Plaster Mesh Market Research Report Forecast to 2030
Market Overview
The Saudi Arabia Fiber Glass Plaster Mesh market is expected to grow at a CAGR of 2.41% over the forecast duration of 2023-2030. The Fiber Glass Plaster Mesh market was valued at USD 492.9 SAR Thousand in 2022 and is expected to reach USD 606.4 SAR Thousand by 2030.
The fiberglass plaster mesh market is expected to be driven by the Growing Construction Industry and Increase in the demand for sustainable and non-toxic fiberglass plaster mesh due to rising Environmental Concerns. Saudi Arabia, the largest country on the Arabian Peninsula, has witnessed remarkable transformation and rapid urbanization over the past few decades. Construction has played a key role in the country's economic development and modernization. With its abundant oil and gas reserves, the government has invested heavily in infrastructure projects, real estate development and industrial initiatives. Henceforth, the growing construction industry is indeed a significant driver to boost the growth of the Saudi Arabia Fiberglass plaster mesh market. The construction sector plays a key role in increasing the demand for building materials, and fiberglass plaster mesh serves as a vital reinforcing material used in construction applications, especially in drywall installations.
However, a major factor restraining market growth for fiberglass plaster mesh is its High Initial Cost. The high initial cost of fiberglass plaster mesh can indeed be a potential restraining factor for its market growth in Saudi Arabia, as it may impact the adoption of the material by some segments of the construction industry. While a highly beneficial building material, fiberglass plaster mesh may require a higher initial investment compared to traditional alternatives. The high cost of fiberglass plaster mesh can be attributed to several factors, including the materials used, the manufacturing process, quality standards, and market demand. Additionally, the market for fiberglass plaster mesh would face challenges owing to the Presence of alternative materials. While the growing urbanization and population Growth is expected to create opportunities for the polymers.
Market Segmentation
Based on the Material Type, the Saudi Arabia Fiber Glass Plaster Mesh market has been segmented into Polyester, PVC, Styrene-butadiene, Aluminum and Others. In 2022, the others segment drove the Saudi Arabia Fiber Glass Plaster Mesh market by holding a substantial market share.
Based on Application, the Saudi Arabia Fiber Glass Plaster Mesh market has been segmented into wall reinforcement, roofing acrylic insulation, marble slab reinforcement and others. In 2022, the Wall Reinforcement segment drove the Saudi Arabia Fiber Glass Plaster Mesh market by holding a substantial market share.
Major Players
Bico Industries, JSC "Polotsk - Steklovolokno", Masterplast Group, Valmiera Glass Group, Dr. Gunther Kast GmbH & Co., Sika AG, Saint-Gobain ADFORS, Mapei SpA, among others are the major companies in the market.
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 10
1.1 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL 13
1.2 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION 14
2 MARKET INTRODUCTION 15
2.1 DEFINITION 15
2.2 SCOPE OF THE STUDY 15
2.3 RESEARCH OBJECTIVE 15
2.4 MARKET STRUCTURE 16
3 RESEARCH METHODOLOGY 17
3.1 RESEARCH PROCESS 17
3.2 PRIMARY RESEARCH 18
3.3 SECONDARY RESEARCH 19
3.4 MARKET SIZE ESTIMATION 19
3.5 TOP-DOWN & BOTTOM-UP APPROACH 20
3.6 FORECAST MODEL 21
3.7 LIST OF ASSUMPTIONS 22
4 MARKET DYNAMICS 23
4.1 OVERVIEW 23
4.2 DRIVERS 24
4.2.1 GROWING CONSTRUCTION INDUSTRY 24
4.2.2 INCREASE IN THE DEMAND FOR SUSTAINABLE AND NON-TOXIC FIBERGLASS PLASTER MESH DUE TO RISING ENVIRONMENTAL CONCERNS 26
4.3 RESTRAINTS 28
4.3.1 HIGH INITIAL COST 28
4.4 OPPORTUNITIES 30
4.4.1 GROWING URBANIZATION AND POPULATION GROWTH 30
4.5 CHALLENGES 32
4.5.1 STRINGENT GOVERNMENT REGULATIONS AND INCREASING AWARENESS ON THE ENVIRONMENTAL IMPACT OF PLASTIC PRODUCTS 32
5 MARKET FACTOR ANALYSIS 34
5.1 SUPPLY CHAIN ANALYSIS 34
5.1.1 RAW MATERIALS 34
5.1.2 MANUFACTURERS 35
5.1.3 DISTRIBUTION AND SALES CHANNEL 35
5.1.3.1 LIST OF CONSTRUCTION MATERIAL TRADERS 36
5.1.3.2 LIST OF FIBER GLASS PLASTER MESH CONTRACTORS 36
5.1.4 END USERS 36
5.1.4.1 LIST OF MANUFACTURERS OF EIFS SYSTEMS 36
5.2 PORTER'S FIVE FORCES MODEL 37
5.2.1 THREAT OF NEW ENTRANTS 37
5.2.2 BARGAINING POWER OF SUPPLIERS 38
5.2.3 THREAT OF SUBSTITUTES 38
5.2.4 BARGAINING POWER OF BUYERS 38
5.2.5 INTENSITY OF RIVALRY 38
5.3 PRICING ANALYSIS, BY REGION FROM 2019 TO 2030 (USD/SQ METER) 39
5.4 IMPACT OF COVID-19 ON THE FIBERGLASS PLASTER MESH MARKET 39
5.4.1 IMPACT OF COVID-19 ON SUPPLY CHAIN OF FIBERGLASS PLASTER MESH MARKET 39
5.4.2 MAJOR GOVERNMENT POLICIES TO COUNTER THE PANDEMIC 39
5.4.3 QUALITATIVE ANALYSIS ON CHANGE IN DEMAND FROM END USERS 40
6 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL 41
6.1 OVERVIEW 41
6.2 POLYESTER 42
6.3 PVC 43
6.4 STYRENE-BUTADIENE 43
6.5 ALUMINIUM 43
6.6 OTHERS 43
7 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION 44
7.1 OVERVIEW 44
7.2 WALL REINFORCEMENT 46
7.2.1 EIFS 46
7.2.2 ETICS 47
7.3 ROOFING ACRYLIC INSULATION 47
7.4 MARBLE SLAB REINFORCEMENT 47
7.5 OTHERS 47
8 COMPETITIVE LANDSCAPE 48
8.1 COMPETITIVE OVERVIEW 48
8.2 SAUDI ARABIA MARKET GROWTH STRATERGY ANALYSIS 48
8.3 COMPETITIVE BENCHMARKING 49
8.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 50
8.4.1 PRODUCT LAUNCH/ PRODUCT DEVELOPMENT 50
8.4.2 ACQUISITION 50
9 COMPANY PROFILES 51
9.1 BICO INDUSTRIES S. A. 51
9.1.1 COMPANY OVERVIEW 51
9.1.2 FINANCIAL OVERVIEW 51
9.1.3 PRODUCTS OFFERED 52
9.1.4 KEY DEVELOPMENTS 53
9.1.5 SWOT ANALYSIS 54
9.1.6 KEY STRATEGIES 54
9.2 JSC"POLOTSK-STEKLOVOLOKNO" 55
9.2.1 COMPANY OVERVIEW 55
9.2.2 FINANCIAL OVERVIEW 55
9.2.3 PRODUCTS OFFERED 55
9.2.4 KEY DEVELOPMENTS 56
9.2.5 SWOT ANALYSIS 56
9.2.6 KEY STRATEGIES 57
9.3 MASTERPLAST GROUP 58
9.3.1 COMPANY OVERVIEW 58
9.3.2 FINANCIAL OVERVIEW 59
9.3.3 PRODUCTS OFFERED 60
9.3.4 KEY DEVELOPMENTS 61
9.3.5 SWOT ANALYSIS 62
9.3.6 KEY STRATEGIES 62
9.4 VALMIERA GLASS GROUP 63
9.4.1 COMPANY OVERVIEW 63
9.4.2 FINANCIAL OVERVIEW 64
9.4.3 PRODUCTS OFFERED 65
9.4.4 KEY DEVELOPMENTS 65
9.4.5 SWOT ANALYSIS 66
9.4.6 KEY STRATEGIES 66
9.5 DR. GUNTHER KAST GMBH & CO. 67
9.5.1 COMPANY OVERVIEW 67
9.5.2 FINANCIAL OVERVIEW 67
9.5.3 PRODUCTS OFFERED 67
9.5.4 KEY DEVELOPMENTS 68
9.5.5 SWOT ANALYSIS 68
9.5.6 KEY STRATEGIES 69
9.6 AL NASIR CONCRETE REPAIRS & TRADING W.L.L. (PALADIN) 70
9.6.1 FINANCIAL OVERVIEW 70
9.6.2 PRODUCTS OFFERED 70
9.6.3 KEY DEVELOPMENTS 70
9.6.4 SWOT ANALYSIS 71
9.6.5 KEY STRATEGIES 71
9.7 SIKA AG 72
9.7.1 COMPANY OVERVIEW 72
9.7.2 FINANCIAL OVERVIEW 73
9.7.3 PRODUCTS OFFERED 74
9.7.4 KEY DEVELOPMENTS 74
9.7.5 SWOT ANALYSIS 75
9.7.6 KEY STRATEGIES 75
9.8 SAINT-GOBAIN ADFORS 76
9.8.1 COMPANY OVERVIEW 76
9.8.2 FINANCIAL OVERVIEW 77
9.8.3 PRODUCTS OFFERED 77
9.8.4 KEY DEVELOPMENTS 78
9.8.5 SWOT ANALYSIS 79
9.8.6 KEY STRATEGIES 79
9.9 SAINT-GOBAIN GYPROC 80
9.9.1 COMPANY OVERVIEW 80
9.9.2 FINANCIAL OVERVIEW 80
9.9.3 PRODUCTS OFFERED 81
9.9.4 KEY DEVELOPMENTS 81
9.9.5 SWOT ANALYSIS 81
9.9.6 KEY STRATEGIES 82
9.10 MAPEI SPA 83
9.10.1 COMPANY OVERVIEW 83
9.10.2 FINANCIAL OVERVIEW 84
9.10.3 PRODUCTS OFFERED 84
9.10.4 KEY DEVELOPMENTS 85
9.10.5 SWOT ANALYSIS 85
9.10.6 KEY STRATEGIES 85
10 APPENDIX 86
10.1 REFERENCES 86
10.2 RELATED REPORTS 87
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS 22
TABLE 2 LIST OF CONSTRUCTION MATERIAL TRADERS 36
TABLE 3 LIST OF FIBER GLASS PLASTER MESH CONTRACTORS 36
TABLE 4 LIST OF MANUFACTURERS OF EIFS SYSTEMS 36
TABLE 5 FIBERGLASS PLASTER MESH MARKET, BY REGION (SAR/SQ METER), 2019-2030 39
TABLE 6 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL, 2019-2030 (SAR THOUSAND) 41
TABLE 7 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL, 2019-2030 (THOUSAND SQ METERS) 42
TABLE 8 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION, 2019-2030 (SAR THOUSAND) 45
TABLE 9 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION, 2019-2030 (THOUSAND SQ METERS) 46
TABLE 10 PRODUCT LAUNCH/PRODUCT DEVELOPMENT 50
TABLE 11 ACQUISTION 50
TABLE 12 BICO INDUSTRIES: PRODUCTS OFFERED 52
TABLE 13 BICO INDUSTRIES: KEY DEVELOPMENTS 53
TABLE 14 JSC"POLOTSK-STEKLOVOLOKNO": PRODUCTS OFFERED 55
TABLE 15 JSC"POLOTSK-STEKLOVOLOKNO": KEY DEVELOPMENTS 56
TABLE 16 MASTERPLAST GROUP: PRODUCTS OFFERED 60
TABLE 17 MASTERPLAST GROUP: KEY DEVELOPMENTS 61
TABLE 18 VALMIERA GLASS GROUP: PRODUCTS OFFERED 65
TABLE 19 DR. GUNTHER KAST GMBH & CO.: PRODUCTS OFFERED 67
TABLE 20 AL NASIR CONCRETE REPAIRS & TRADING W.L.L. (PALADIN): PRODUCTS OFFERED 70
TABLE 21 SIKA AG: PRODUCTS OFFERED 74
TABLE 22 SAINT-GOBAIN ADFORS: PRODUCTS OFFERED 77
TABLE 23 SAINT-GOBAIN ADFORS: KEY DEVELOPMENTS 78
TABLE 24 SAINT-GOBAIN GYPROC: PRODUCTS OFFERED 81
TABLE 25 MAPEI SPA: PRODUCTS OFFERED 84
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LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 12
FIGURE 2 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET ANALYSIS BY MATERAIL (SAR THOUSAND) 13
FIGURE 3 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET ANALYSIS BY APPLICATION (SAR THOUSAND) 14
FIGURE 4 FIBER GLASS PLASTER MESH MARKET: MARKET STRUCTURE 16
FIGURE 5 RESEARCH PROCESS OF MRFR 17
FIGURE 6 MARKET DYNAMICS: FIBERGLASS PLASTER MESH MARKET 24
FIGURE 7 CONSTRUCTION SECTOR GROWTH IN SAUDI ARABIA 26
FIGURE 8 DRIVERS: IMPACT ANALYSIS 27
FIGURE 9 RESTRAINT: IMPACT ANALYSIS 29
FIGURE 10 SAUDI ARABIA POPULATION GROWTH 32
FIGURE 11 SUPPLY CHAIN ANALYSIS: FIBERGLASS PLASTER MESH MARKET 34
FIGURE 12 PORTER'S FIVE FORCES ANALYSIS: FIBERGLASS PLASTER MESH MARKET 37
FIGURE 13 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL, 2019-2030 (SAR THOUSAND) 41
FIGURE 14 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY MATERIAL, 2019-2030 (THOUSAND SQ METERS) 42
FIGURE 15 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION, 2019-2030 (SAR THOUSAND) 44
FIGURE 16 SAUDI ARABIA FIBER GLASS PLASTER MESH MARKET, BY APPLICATION, 2019-2030 (THOUSAND SQ METERS) 45
FIGURE 17 COMPETITIVE BENCHMARKING 49
FIGURE 18 BICO INDUSTRIES: FINANCIAL OVERVIEW SNAPSHOT 51
FIGURE 19 BICO INDUSTRIES: SWOT ANALYSIS 54
FIGURE 20 JSC"POLOTSK-STEKLOVOLOKNO": SWOT ANALYSIS 56
FIGURE 21 MASTERPLAST GROUP: FINANCIAL OVERVIEW SNAPSHOT 59
FIGURE 22 MASTERPLAST GROUP: SWOT ANALYSIS 62
FIGURE 23 VALMIERA GLASS GROUP: FINANCIAL OVERVIEW SNAPSHOT 64
FIGURE 24 VALMERIA GLASS GROUP: SWOT ANALYSIS 66
FIGURE 25 DR. GUNTHER KAST GMBH & CO.: SWOT ANALYSIS 68
FIGURE 26 AL NASIR CONCRETE REPAIRS & TRADING W.L.L. (PALADIN): SWOT ANALYSIS 71
FIGURE 27 SIKA AG: FINANCIAL OVERVIEW SNAPSHOT 73
FIGURE 28 SIKA AG: SWOT ANALYSIS 75
FIGURE 29 SAINT-GOBAIN ADFORS: FINANCIAL OVERVIEW SNAPSHOT 77
FIGURE 30 SAINT-GOBAIN ADFORS: SWOT ANALYSIS 79
FIGURE 31 SAINT-GOBAIN GYPROC: FINANCIAL OVERVIEW SNAPSHOT 80
FIGURE 32 SAINT-GOBAIN GYPROC: SWOT ANALYSIS 81
FIGURE 33 MAPEI SPA: FINANCIAL OVERVIEW SNAPSHOT 84
FIGURE 34 MAPEI SPA: SWOT ANALYSIS 85
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