Market Introduction
Saudi Arabia is witnessing high demand for drywall panels due to the steady growth of the construction activities in the region. Construction is the second largest non-oil industry in Saudi Arabia and contributes significantly to the growth of the country’s GDP. Saudi Arabia’s vision 2030 program, that which was designed to fuel the growth of the non-oil industries by 2030, has placed construction as one of the most important sectors. In order to accomplish the vision, Saudi Arabiathe country has also formed an action plan, the National Transformation Project (NTP), which focuses on improving the three pillars of the country such as economic enablers, standard of living, and operational excellence of the government. These initiatives by the government will would significantly propel the demand for drywall panels in Saudi Arabia in coming years.
Market Overview and Dynamics
The workbench/workstationdrywall panels market in US Saudi Arabia is expected to grow from US$ 207.709.46 million in 2020 and is projected to reach US$ 304.43 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028. Drywall panels, also known as plasterboard or wallboard, are panels made of gypsum (calcium sulfate dehydrate) and is used in the construction industry. They are sometimes manufactured with additives in order to enhance their properties and add features such as fire resistance, water resistance, and mold resistance. Growth of theThe increasing construction activities in Saudi Arabia has significantly contributed towardsdrives the growth of the drywall panels market in Saudi Arabia. Furthermore, Saudi has witnessed significant increase in the value of contracts awarded, from USUS$11.4 billion in 2016 to USUS$ 14.6 billion in 2018. The increased focus on the construction sector has garnered the interest of several international hoteliers. This has lead to the construction of a significant amount of rooms with the hospitality sector focusing on the significant potential of the industry in Saudi Arabia. The construction sector in Saudi Arabia is set to grow significantly after experiencing a setback during the pandemic, with a pipeline of over 200 projects that includes ~approximately 700,000 rooms, which is the highest in the Middle East. These factors are set to significantly aid the growth of the Saudi Arabia drywall panels market.
Key Market Segments
In terms of type, the regular segment in 2020, accounted for the largest share of the Saudi Arabia drywall panels market in 2020. In 2020, by application, the residential segment held the a largerst market share.
Major Sources and Companies Listed
A few major primary and secondary sources referred to while preparing the report on the Saudi Arabia drywall panels market are company websites, annual reports, financial reports, national government documents, and statistical databases such as SBC, Comtrade, USGS, Saudi Contractors’ Authority (SCA), GASTAT, and other similar data related to the market. Major companies listed in the report are IKK Group of Companies, Mada Gypsum, EL-Khayyat Gypsum Factor, United Mining Industries, Knauf Gips KG, National Gypsum Company, Sinar, Al Watani Gypsum Co. Ltd., USG Corporation, and Saint Gobain S.A.
Reasons to Buy Report
Saudi Arabia Drywall Panels Market, by Type
Saudi Arabia Drywall Panels Market, by Application
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 207.709.46 Million |
| Market Size by 2028 | US$ 304.43 Million |
| CAGR (2021 - 2028) | 5.0% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Saudi Arabia
|
| Market leaders and key company profiles |
|
The Saudi Arabia Drywall Panels Market is valued at US$ 207.709.46 Million in 2020, it is projected to reach US$ 304.43 Million by 2028.
As per our report Saudi Arabia Drywall Panels Market, the market size is valued at US$ 207.709.46 Million in 2020, projecting it to reach US$ 304.43 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The Saudi Arabia Drywall Panels Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Saudi Arabia Drywall Panels Market report:
The Saudi Arabia Drywall Panels Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Saudi Arabia Drywall Panels Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Saudi Arabia Drywall Panels Market value chain can benefit from the information contained in a comprehensive market report.
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