The import of parquet panels and tiles of wood to Saudi Arabia stood at 9.7659 million kilograms in 2023. Historically, from 2013 to 2023, this market experienced notable fluctuations, with the most significant growth in 2015 (44.83%) and the sharpest decline in 2016 (-36.88%). The average annual variation from 2013 to 2023 is highlighted by a slight positive 2.21% CAGR over the last five years. Furthermore, for 2022 and 2023, the year-on-year variations were 6.49% and 1.13%, respectively.
Looking ahead, forecasted data from 2024 to 2028 suggests a steady but modest growth trend. The expected 5-year CAGR is 0.91%, resulting in a total growth rate of 4.62%. The market is projected to reach 10.306 million kilograms by 2028. Several factors such as construction trends, import policies, and domestic manufacturing capabilities will play critical roles in shaping future trends.
Future trends to watch for:
- Impact of sustainable and eco-friendly materials on market demand
- Technological advancements in production and installation
- Potential trade regulations and import tariffs
- Economic factors influencing construction sectors
