Saudi Arabia Floor Covering Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
COVID-19 has greatly affected Floor Covering Market in Saudi Arabia. Parties involved in construction projects are having difficulties moving projects forward and finding solutions to claims arising from on-site suspensions, delays, and additional costs. While some construction contracts have already been terminated due to the pandemic, many others are being renegotiated. In order to minimize the adverse effects of Covid-19, parties have begun to seek solutions and find common ground by compromising on their legitimate claims. The construction industry's negative effects have significantly influenced the floor covering business.
Industrial development fuelled by huge investments made by the government plays a crucial role in the growth of the flooring industry, as all industrial facilities need fit-for-purpose flooring. The increased focus on green buildings and rising usage of eco-friendly flooring products in Saudi Arabia are stimulating the demand for floorings manufactured from recycled raw materials.
Technological advancements in the flooring industry have resulted in improved product features, such as digitally printed tile designs, availability of a wide variety of colors, and enhanced water resistance, propelling the growth of the market studied.
The country is one of the largest countries importing ceramic tiles. Moreover, the increasing focus of domestic companies on expanding their operations and technological developments, such as the use of digital printing technology, is expected to positively influence the country's flooring industry.
Saudi Arabia Floor Covering Market Trends
One of the Largest Share in the Global Market
Saudi Arabia held the largest share in the global market in the ceramic segment in 2020, accounting for around 37%. It was followed by the UAE and Qatar, respectively. Saudi Arabia may dominate the global market during the forecast period.
Several construction activities are going on in the country. The hospitality industry in the country is emerging significantly. Thus, the government is spending more on construction activities. The expanding hospitality industry may need to construct new travel facilities, such as airports, railways, and roadways, or remodel the existing facilities.
The GCC's demand for high-value ceramic tile is met through imports from Europe, China, and India. The UAE, Saudi Arabia, and Qatar are the three largest users and importers of premium and luxury ceramic tiles. These three countries imported about 62%, 68%, and 100% of their ceramic tiles demand in 2020
Innovations in the Carpet Designs and Technologies
Increasing end-user applications and product and process innovations in carpet designs and technologies are the identified market opportunities in the country. Increasing demand in the end-user industries, growth in the automotive industry, and increasing popularity of artificial grass in sports fields and other outdoor applications are the factors expected to fuel the growth of the Middle Eastern flooring and carpet market during the forecast period.
Among application type segments, the residential segment is expected to dominate the market in terms of revenue share. Hospitality and automotive application segments are expected to register a comparatively higher growth rate than other application segments during the forecast period. Saudi Arabia accounted for a revenue share of 36% in the global market in 2020.
Saudi Arabia Floor Covering Market Competitor Analysis
The report covers major international players operating in the Saudi Arabian floor covering 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.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on impact of technology and innovation in Operation in Floor Covering Market
4.7 Impact of COVID 19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Carpet and Area Rugs
5.1.2 Non Resilient Flooring
5.1.2.1 Wood Flooring
5.1.2.2 Ceramic Floor and Wall Tile
5.1.2.3 Laminate Flooring
5.1.2.4 Stone Flooring
5.1.3 Resilient Flooring
5.1.3.1 Vinylsheet and Floor Tlie
5.1.3.2 Other Resilent Flooring
5.2 By End-User
5.2.1 Residential
5.2.2 Commercial
5.2.3 Builder
5.3 By Distribution Channel
5.3.1 Home Centers
5.3.2 Specialty Stores
5.3.3 Online
5.3.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Saudi Arabian Markets Ltd
6.1.2 Prime Floor KSA
6.1.3 Arabian Tile Company Ltd
6.1.4 Saudi Industrial Flooring Co.
6.1.5 Saudi Ceramics
6.1.6 RAK Ceramics
6.1.7 Mohawk Industries Inc.
6.1.8 Shaw Industries Group Inc.
6.1.9 Armstrong Flooring
6.1.10 Gerflor Group
6.1.11 Khalid Saad
6.1.12 Home Depot Inc.*
7 OPPORTUNITIES AND FUTURE OF THE MARKET
8 DISCLAIMER AND ABOUT US
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