Saudi Arabia GRC Cladding Market to Exceed Market Valuation of USD 562.2 Million By 2032, at 17.5% CAGR: Astute Analytica

Saudi Arabia’s GRC cladding market is thriving, driven by ambitious Vision 2030 mega-projects and rapid urbanization. Demand focuses on lightweight, durable premix GRC, with a shift towards hybrid GRC for enhanced design and performance. Sustainability concerns and skilled labor shortages present challenges alongside growing market competition.

New Delhi, April 15, 2024 (GLOBE NEWSWIRE) — According to the latest research by Astute Analytica, the Saudi Arabia GRC Cladding Market is projected to generate revenue of US$ 562.2 million by 2032, up from US$ 132.4 million in 2023, at a CAGR of 17.5% during the forecast period 2024–2032.

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Saudi Arabia’s immense construction pipeline, fueled by its Vision 2030 and staggering $1.8 trillion in projects, presents a significant opportunity for the GRC cladding market. Since 2016, the kingdom’s commitment to development has already seen $1.25 trillion injected into real estate and infrastructure projects, with an additional $250 billion in construction contracts awarded. Projections indicate this growth isn’t slowing, anytime soon with the construction market anticipating a 4% annual growth rate from 2024 to 2027.

The demand for GRC cladding is likely to surge in response to several ambitious mega-projects. NEOM, a $500 billion futuristic city spanning 26,500 sq km, will require innovative and visually appealing building materials. Additionally, The Line, a $1 trillion linear city with mirrored skyscrapers, creates a large potential market for GRC cladding. The luxury focus in projects like Amaala, the “Riviera of the Middle East,” and the Red Sea Project’s $575 billion tourism development also align with the aesthetic and performance benefits GRC cladding offers.

Saudi Arabia’s position as a construction leader within the MENA region further highlights the potential for GRC cladding market. The country held the largest share (35%) of the region’s estimated $3 trillion worth of projects in early 2023. Combined with the UAE and Egypt, these three nations accounted for 67% of the $101 billion in new project awards in the first half of 2023, with Saudi Arabia leading the way with a substantial $44 billion. This dominance in the construction sector directly translates to increased demand for versatile and durable cladding solutions like GRC.

Key Findings in Saudi Arabia GRC Cladding Market

Market Forecast (2032) US$ 562.2 Million
CAGR 17.5%
By Product Type Premix GRC Cladding (46.2%)
By Thickness 60 mm or more (46.1%)
By Color Range Natural White (31.3%)
By Surface Finish Smooth (40.8%)
By End Use Government (39.8%)
By Distribution Channel Offline (88.6%)
Top Trends
  • Demand for eco-friendly GRC with recycled content and reduced carbon footprint.
  • Increased use of GRC for intricate facades and unique architectural features.
  • Rising preference for hybrid GRC for enhanced strength and design options.
Top Drivers
  • Vision 2030 Mega-projects: Mega-projects drive large-scale demand for GRC cladding.
  • Rapid Urbanization: Growing need for housing and infrastructure fuels GRC use.
  • Aesthetic Preferences: Desire for visually appealing facades increases GRC popularity.
Top Challenges
  • Supply Chain Disruptions: Potential delays in material procurement due to global supply chain volatility.
  • Competitive Market: Growing number of GRC suppliers leading to increased price competition.

Surging Demand for GRC Cladding Market in Decorative Elements Across Saudi Arabia

Saudi Arabia’s construction industry is undergoing a remarkable transformation, driven by the kingdom’s Vision 2030 and the Iskan program. As the nation embarks on a journey of rapid urbanization and infrastructure development, the demand for modern building materials, particularly Glass Reinforced Concrete (GRC) cladding, is soaring. One notable trend emerging in this dynamic market is the strong demand for GRC cladding in decorative elements. GRC cladding’s versatility in creating unique and visually striking building exteriors is a key factor driving its popularity in decorative applications. The material offers a wide range of customization options, including sculptural elements, relief patterns, and intricate detailing. As architects and developers in Saudi Arabia GRC cladding market seek to differentiate their projects with contemporary and eye-catching designs, GRC cladding has become the go-to solution for creating distinctive facades.

The demand for GRC decorative elements is further propelled by the flourishing construction activities in the region. Saudi Arabia and the UAE alone contributed to 64% of the total construction project awards in 2019, amounting to over $88 billion. The public sector’s drive to improve infrastructure, including schools, hospitals, metro stations, airports, and industrial and commercial cities, is expected to widen the appeal of GRC products and boost their demand.

The hospitality industry in Saudi Arabia is experiencing significant growth, driven by increasing religious and leisure travel to the kingdom. The country is focusing on improving investment opportunities through several projects, resulting in a rising number of new hotels opening in key cities. This trend has led to a surge in demand for GRC cladding in the hospitality sector.

Premix GRC Cladding Generates More than 46.2% Revenue Share of Saudi Arabia GRC Cladding Market

Saudi Arabia’s rapid urbanization and population growth create a thriving construction sector, fueling the demand for high-quality, versatile building materials like GRC cladding. The kingdom’s dominance in the construction market is evident, accounting for approximately one-third of the Gulf Cooperation Council region’s construction activity. This surge in residential and commercial construction projects drives the increasing popularity of premix GRC cladding. Premix GRC cladding offers several advantages that contribute to its popularity. Its lightweight nature significantly reduces transportation and installation costs compared to traditional concrete. The ability of premix GRC to be molded into intricate shapes allows architects exceptional design flexibility, leading to unique and visually striking facades. Furthermore, the weather resistance, fire resistance, and impact strength inherent in premix GRC enhance its appeal as a durable cladding solution in the Saudi Arabia GRC cladding market.

Even with its rapid modernization, Saudi Arabia retains a strong desire to preserve its traditional Arab-Islamic architectural heritage. Premix GRC cladding provides the adaptability necessary for builders to seamlessly integrate modern designs with traditional motifs and patterns, ensuring continuity of architectural style. While premix GRC currently dominates, Saudi Arabia’s skilled labor shortage influences the cladding market. Premix GRC’s relative ease and speed of installation compared to other materials partially addresses this challenge. Additionally, the market is witnessing a shift towards hybrid GRC cladding, combining spray and premix processes for even greater durability and design freedom.

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The Rise of Natural White GRC Cladding: Shaping Saudi Arabia’s Architectural Identity with Over 31.3% Revenue Contribution

As Saudi Arabia undergoes rapid urbanization and modernization, there is a desire to create structures that blend traditional Arab-Islamic architectural elements with contemporary aesthetics. Natural white GRC cladding aligns perfectly with this vision due to its minimalist and versatile appeal. Architects and developers are increasingly choosing natural white to create facades that resonate with both local heritage and modern design sensibilities. Natural white is not only the most popular color segment in the Saudi GRC cladding market, but it is also projected to experience the highest growth with a CAGR of 19.2% . As more construction projects aim to merge tradition and modernity, the demand for natural white is poised to skyrocket, cementing its position as the market leader.

Saudi Arabia is undergoing a massive construction boom driven by rapid urbanization, population growth, and government initiatives like the National Transformation Program 2020 which aims to implement smart city projects in 10 cities. This is fueling demand for high-quality, versatile building materials in the GRC cladding market. The growing hospitality sector, with 73,057 hotel rooms in the pipeline, is also driving the market. Natural white GRC cladding offers a clean, timeless look that can be adapted to various architectural styles, from traditional to ultra-modern. Its neutral tone allows it to seamlessly integrate with other design elements and materials. This versatility makes it a go-to choice for architects working on a wide range of projects.

Beyond aesthetics, natural white GRC cladding is preferred for its durability and performance. It is weather-resistant, fire-resistant, and has good impact strength. These qualities are crucial in Saudi Arabia’s harsh desert climate. The light color also helps reflect heat, improving building energy efficiency.

Top 10 Most Prominent Projects in Saudi Arabia to Shape the Future of GRC Cladding Market in the Country

  1. NEOM:  NEOM is a $500 billion mega-project that spans 26,500 square km across northwest Saudi Arabia, Jordan and Egypt. It includes 9 specialized investment sectors like energy, water, biotech, food, technology, digital sciences, advanced manufacturing, media, and entertainment.
  2. The Line: Part of NEOM, The Line is one of the world’s largest and most complex infrastructure projects. Designed by top firms like Morphosis, Studio Fuksas and others, it aims to help diversify Saudi Arabia’s economy beyond oil.
  3. Qiddiya: Qiddiya, near Riyadh, is set to become Saudi Arabia’s ultimate family entertainment destination. It will feature thrilling water and theme parks, including the world’s tallest, fastest, and longest roller coaster at Six Flags Qiddiya.
  4. King Abdullah Economic City (KAEC): KAEC is a massive economic zone along the Red Sea coast covering 181 square km. It includes the King Abdullah Port, the Industrial Valley, and residential areas.
  5. Diriyah Gate: This $17.1 billion heritage project will transform Diriyah into a global cultural and lifestyle destination. It features museums, cultural centers, resorts, restaurants and more.
  6. Red Sea Project: Spanning 28,000 square km along the Red Sea coast, this luxury tourism destination will have 90 resorts, 50 hotels and more, all designed to preserve the local environment. Major hotel brands are investing here.
  7. Jabal Omar: One of the largest developments in Mecca, the $5 billion Jabal Omar project covers 0.4 square km. It will feature towering hotels and residences to accommodate 36,000 pilgrims annually. It would boost the Saudi Arabia’s GRC cladding market.
  8. Amaala: Amaala is an uber-luxury wellness tourism destination along the Red Sea coast. It includes marinas, retail, fine dining, wellness resorts, recreation and cultural offerings.
  9. Al-Ula: The “Journey Through Time” master plan aims to make the historic Al-Ula region a living museum, immersing visitors in 200,000 years of natural and human history. It targets 2 million annual visitors.
  10. Riyadh Metro: The $22.5 billion Riyadh Metro is one of the world’s largest urban transport projects. Its 6 lines spanning 176 km will have 85 stations when completed.

Saudi Arabia GRC Cladding Market Key Players

  • Acementiat (Taktheer Comapny Ltd. Factory)
  • Al-Bitar Factory Co.
  • Al-Rimal Trading Company (Rimal Trading & Contracting Co. )
  • Arabian Tile Company Ltd. – ARTIC
  • Durraka
  • GRC Touch Factory & Company
  • Gulf Precast Concrete Co. LLC
  • Petra GRC
  • Saudi Concrete Products Co. Ltd. (SACEP & CONSTRUCT Co. Ltd.)
  • Station Group
  • TUNSIF GRC
  • Other Prominent Players

Key Segmentation:

By Product Type

  • Sprayed GRC Cladding
  • Premix GRC Cladding
  • Hybrid GRC Cladding

By Thickness

  • 10 mm – 20 mm
  • 20 mm – 40 mm
  • 40 mm – 60 mm
  • 60 mm or more

By Color Package

  • Natural White
  • Grey
  • Red
  • Yellow
  • Monochromatic
  • Multi-coloured
  • Others

By Surface Finish

  • Textured
  • Smooth
  • Patterned
  • Customized Designs

By End Use

  • Residential
  • Commercial
    • Hospitality and Tourism
    • Retail
    • Healthcare
    • Educational Institutes
    • Others
  • Industrial
  • Government

By Distribution Channel

  • Online
  • Offline
    • Direct
    • Retailers
    • Distributors and Wholesalers
    • Others

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