Saudi Arabia Building Thermal Insulation Market Size & Outlook
Saudi Arabia building thermal insulation market, 2018-2030 (US$M)
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Saudi Arabia building thermal insulation market highlights
- The Saudi Arabia building thermal insulation market generated a revenue of USD 213.1 million in 2022 and is expected to reach USD 372.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 7.2% from 2023 to 2030.
- In terms of segment, glass wool was the largest revenue generating product in 2022.
- EPS is the most lucrative product segment registering the fastest growth during the forecast period.
Building thermal insulation market data book summary
| Market revenue in 2022 | USD 213.1 million |
| Market revenue in 2030 | USD 372.9 million |
| Growth rate | 7.2% (CAGR from 2022 to 2030) |
| Largest segment | Glass wool |
| Fastest growing segment | EPS |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Glass Wool, Mineral Wool, EPS, XPS, Cellulose, PIR, PUR |
| Key market players worldwide | Rockwool AS Class B, GAF, Guardian Capital Group Ltd, Huntsman Corp, Johns Manville, Atlas Roofing, CertainTeed Corporation, Dow Building Solutions, Owens-Corning Inc, Compagnie de Saint-Gobain SA, Kingspan Group PLC, Cellofoam, Rockwool, Byucksan, BASF |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.9% of the global building thermal insulation market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia building thermal insulation market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 372.9 million by 2030.
Glass wool was the largest segment with a revenue share of 33.6% in 2022. Horizon Databook has segmented the Saudi Arabia building thermal insulation market based on glass wool, mineral wool, eps, xps, cellulose, pir, pur covering the revenue growth of each sub-segment from 2018 to 2030.
Kingdom of Saudi Arabia has announced a reform program under its Vision 2030. The country is expected to exhibit robust economic growth owing to the implementation of structural reforms.
New taxes and fees, including value added tax (VAT), extra fees on expats working in the country, and potential taxes imposed on the foreign businesses is expected to bring additional revenues in the economy. However, uncertainty regarding future prices of oil and impact of ongoing economic reforms may pose a risk to the projected economic growth in the country.
Increase in tourism, population growth, and urbanization is the primary driving factor for the growth of this sector. Residential and leisure construction activities are expected to gain momentum over the forecast period, owing to the increase in population and tourism. Hence, the growth in building & construction is anticipated to propel the demand for building thermal insulation over the forecast period.
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Building Thermal Insulation Market Scope
Building Thermal Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia building thermal insulation market size, by product, 2018-2030 (US$M)
Saudi Arabia Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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