The Saudi Arabia sanitary ware market is believed to have reached a value of around $445 million in 2012, and is forecast to grow to a total of $1.42 billion by the end of 2018. This suggests a CAGR growth rate of around 21% between 2012 and 2018. The central and the western regions are the highest contributor in the sales volume of sanitary ware products in Saudi Arabia. These regions have the advantage of both the high population as well as their economic strength. Some of the important markets in these regions are Riyadh, Mecca, Medina, etc.
Saudi Arabia is one of the main hubs for sanitary ware market players in GCC (Gulf Cooperation Council) region. The sanitary ware market of Saudi Arabia is more promising than rest of the neighboring nations as various projects are under process in Saudi Arabia. Over 70% of the sanitary ware products demand in Saudi Arabia is being fulfilled by imports. Some of the major sanitary ware industry's players are Saudi Ceramics, RAK Ceramics and Casa via, etc.
The measures taken by the Saudi Government have been playing an instrumental role in shaping the future of sanitary ware industry. The Saudi government has allocated huge budgets for various projects such as the construction of 742 schools, 40 colleges and universities. The Saudi government has also announced its decision to build around 5,00,000 housing units and has increased its real estate budget by a astonishing figure of USD 10.7 Billion (SAR 40 Billion). The expenditures of the Saudi government on real estate have been growing at a rate of over 13% annually to meet the increasing demand of real estate in Saudi Arabia.
The rising demand for houses in Saudi Arabia has led to the considerable growth in the real estate sector. The demand for sanitary ware products from the housing sector has remained the backbone for the sanitary ware market in Saudi Arabia. The rising domestic as well as the expatriate population, high urbanization, increasing nuclear families trend, etc. have led to the higher demand of houses than the earlier times. The high disposable income of individuals in Saudi Arabia has enabled the individuals in Saudi Arabia to purchase the apartments.For more information on the Saudi Arabia sanitary ware market, please click here: Saudi Arabia sanitary ware market
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