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Saudi Arabia Premix Plaster Market by Binding Material and End User : Opportunity Analysis and Industry Forecast, 2020–2027

Saudi Arabia Premix Plaster Market by Binding Material and End User : Opportunity Analysis and Industry Forecast, 2020–2027

  • January 2021
  • 104 pages
  • ID: 6033612
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Saudi Arabia Premix Plaster Market by Binding Material (Cement, Lime, Gypsum, and Others) and End User (Residential, Commercial, and Industrial): Opportunity Analysis and Industry Forecast, 2020–2027

The Saudi Arabia premix plaster market was valued at $2.3 billion in 2019, and is projected to reach $3.4 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.

Premix plaster is basically a dry mix plastering material which is mixed with water at job site. The ready-mix plaster requires low curing time compared to that of conventional plastering materials. Some of the majorly used premix plaster include cement, lime, and gypsum-based premix plaster that are applied either by hand or by spray machines. These are supplied in small and large bags, and in bulk quantity to construction sites. Premix plaster is widely used on walls, ceilings, and columns in residential, commercial, and industrial buildings and constructions.
The market is driven by increase in need for plastering materials in the construction sector. For instance, Saudi Arabia, being a member of Gulf Country Council (GCC) accounted for significant market share (more than one third) in Gulf Country Council (GCC) construction market. In addition, rise in population coupled with growing urbanization led to large number of new construction projects in residential and commercial sector, which will further influence the market growth. Furthermore, the government is actively spending in construction sector with the help of foreign investors to increase the contribution of construction sector from 8.4% to 10% in the GDP by 2030. Such developments will lead to new residential and commercial construction projects, which will positively impact the premix plaster market. However, the high cost and time constraint of premix plaster may negatively affect the market growth.
Premix plaster is not suitable for small-sized projects and it should be applied within 4 hours after the mixture is prepared. In addition, it requires effective transportation between construction site and batching plant to avoid slumps in the plaster mixture. Furthermore, the low value to weight ratio of premix plaster is a big problem for industry players, which restricts the transport of plaster materials over long distance. Transportation of premix plaster over long distance may be uneconomical and non-profitable, which leads to negotiation of price of premix plaster on local basis rather than on a global basis.
The Saudi Arabia premix plaster market is segmented on the basis of binding material and end user. On the basis of binding material, it is divided into cement, lime, gypsum, and others (gauged, aerated cement, and burnt bricks). The cement-based premix plaster accounted for significant market share, owing to large application in both exterior and interior plastering unlike gypsum and lime plasters. Due to high water retention, cement plaster can be used even in moist areas such as kitchen and washroom. Based on end user, it is categorized into residential, commercial, and industrial end user. The residential segment accounted for the highest revenue share, owing to increase in investment for social and sub urban development projects, which was aimed to provide housing opportunities for low-income groups.
Major players have adopted product launch and agreement to sustain the intense market competition. The key players profiled in the report include Saudi Readymix, Saudi vetonit co. Ltd., Unibeton Ready Mix, Saint-Gobain Weber Middle East, Conmix Ltd., and Don Construction Products ltd.

COVID-19 scenario analysis
• The Saudi Arabia premix plaster market had immediate impact of COVID-19 breakdown. The industry has been persistently challenged by huge number of labor shortage.
• In addition, contractors are expected to witness significant challenges, owing to operational uncertainties. Nation wise lockdown and social distancing norms negatively impacted transportation sector, which is vital for premix plaster service. Furthermore, restrictions on cross border import, disrupted the Saudi Arabia premix plaster supply chain.
• The delay in upstream and downstream activities led to increase in inventory carrying cost, which further impacted overall project cost.
• Moreover, discretionary spending on non-essential home items is pressurized for last six to eight months, which further restricted the demand for plastering services.
• However, implementation of IoT and automation may improve the market scenario reducing the need of labors wherever possible.

Key benefits for stakeholders
• The global Saudi Arabia premix plaster market analysis covers in-depth information of major industry participants.
• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• Major countries have been mapped according to their individual revenue contribution to the regional market.
• The report provides in-depth analysis of the global Saudi Arabia premix plaster market forecast for the period 2020–2027.
• The report outlines the current global Saudi Arabia premix plaster market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
• The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.

Key market segments
• By Binding Material
• Cement
• Lime
• Gypsum
• Others (Gauged, aerated cement, and burnt bricks)
• By End-User
• Residential
• Commercial
• Industrial

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