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, also known as ready mix, is a mixture of Portland cement, sand, and polymer additives. The application of premix plaster requires only addition of sufficient water on construction site. Majorly used binding material include cement, lime, and gypsum. Premix plaster can be applied manually or through spray machines son building blocks or concrete blocks. But, it should be used within 4 hours of mixing on construction site to avoid slumps in the plaster mixture.
Surge in demand for plastering materials in construction sector is expected to drive the market growth. For instance, Saudi Arabia accounted for around one third market share in the construction market of Gulf Cooperation Council. 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 premix plaster market is expected to gain traction in residential and commercial sector. This is attributed to rise in foreign direct investment and favorable government policies. Around 210 construction projects are under development in Saudi Arabia, which are aimed to deliver around 69,000 rooms. Furthermore, Saudi Arabia planned to invest around $1 trillion in its non-hydrocarbon sector, including real estate sector 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 is a major issue for construction companies. 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. Nonetheless, the ready mix properties of premix plaster aids in reducing labor cost and overall operational cost; thus, positively impacting project completion time and cost. Due to such properties, premix plaster is effective for big and medium sized projects for fast completion.
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). Based on end user, it is categorized into residential, commercial, and industrial end user.
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.
Saudi Arabia Premix Plaster Market, By Binding Material
The cement-based premix plaster accounted for highest revenue 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.
By Binding Material
Lime based premix plaster is projected as the most lucrative segment
Saudi Arabia Premix Plaster Market, By End User
The residential segment emerged as the market leader, owing to increase in investment for social and sub urban development projects, which was aimed to provide housing opportunities for low-income groups.
By End-user
Commercial end-user is projected as the most lucrative segment
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 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 Saudi Arabia Premix Plaster market forecast for the period 2020–2027.
- The report outlines the current 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.
Saudi Arabia Premix Plaster Market Report Highlights
| Aspects | Details |
 By Binding Material |
|
 By End User |
|
 Key Market Players | UNIBETON READY MIX, FOSROC SAUDI ARABIA, CONMIX LTD., SAUDI VETONIT CO. LTD., SAUDI READYMIX, SAINT-GOBAIN WEBER MIDDLE EAST, WUENSCH PLASTER, MASTOUR READYMIX, WACKER CHEMICALS AG, DON CONSTRUCTION PRODUCTS LTD. |
Analyst Review
According to the opinions of various CXOs of leading companies, the Saudi Arabia premix plaster market is expected to witness considerable growth. This is attributed to robust investment in construction projects. As the government adopted new policies including incentives, tax concessions, and 100% ownership of equipment companies, it has positive impact on foreign direct investment. In addition, modernization of existing infrastructure and rapid urbanization will further enhance the demand of premix plaster in development projects. Furthermore, rise in disposable income of consumers and growth in population in urban areas are expected to drive the market growth. However, high initial capital investment and limited application of premix plaster in small projects may restrict the market growth.
Growth in urbanization, robust investment in building and construction sector are the factors that drive Saudi Arabia Premix Plaster Market growth.
Acquisition, new product launch, and agreements are the key growth strategies of Saudi Arabia Premix Plaster Market players.
Saudi Readymix, Saudi vetonit co. Ltd., Unibeton Ready Mix, Saint-Gobain Weber Middle East, Conmix Ltd., and Don Construction Products ltd. are some of the key players in the market
Cement premix plaster holds the maximum share of the Saudi Arabia Premix Plaster Market
Residential end-user holds the maximum share of the Saudi Arabia Premix Plaster Market
The Saudi Arabia Premix Plaster Market is expected to reach $3.4 billion by 2027.
Construction and building companies are the potential customers of Saudi Arabia Premix Plaster Market industry.
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