Middle East Concrete Market Outlook
According to a new report by Expert Market Research titled “Middle East Concrete Market Size, Share, Analysis, Report, Demand, Growth, Forecast 2023-2028″, the Middle East concrete market reached a volume of approximately 1144.8 MMT in 2022. Aided by the accelerating demand for infrastructure development and the growing applications of concrete in several end uses, the market is projected to further grow at a CAGR of 3.90% between 2023 and 2028 to reach a value of 1443.18 MMT by 2028.
Concrete, a composite material consisting primarily of aggregate, cement, and water, is a key component in the construction of infrastructure. It provides the foundation for roads, bridges, buildings, and other structures due to its strength, durability, and versatility. Concrete also exhibits excellent resistance to water, fire, wind, and earthquakes, making it a highly preferred material in construction activities across sectors.
The Middle East concrete market growth is primarily fuelled by the robust demand for infrastructural development across the region. Several Middle Eastern countries, including the UAE, Saudi Arabia, and Qatar, are witnessing substantial investments in infrastructural projects, driven by the rapid urbanisation, population growth, and economic diversification initiatives by the governments. These factors have led to a surge in construction activities, consequently boosting the demand for concrete.
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In addition, the rising trend of sustainable construction has further contributed to the increasing popularity of concrete, thus boosting the Middle East concrete market expansion. With the growing awareness of the environmental impact of construction materials, there has been a significant shift towards eco-friendly alternatives. Concrete, being a locally available and recyclable material, is considered a sustainable option, thereby amplifying its demand.
The expanding applications of concrete in various sectors also play a crucial role in propelling the Middle East concrete market development. In the construction sector, concrete is used for constructing buildings, bridges, roads, and dams due to its strength and durability. It also finds applications in the manufacturing of precast structures, decorative items, and in landscaping. Moreover, technological advancements have led to the development of various types of concrete, such as high-performance concrete, self-compacting concrete, and green concrete, further broadening its range of applications.
Furthermore, the growing demand for high-rise buildings and mega infrastructure projects in the Middle East has necessitated the use of concrete owing to its ability to withstand high pressure and harsh weather conditions. The ongoing construction of mega-projects, such as NEOM city in Saudi Arabia and the expansion of airports in the UAE, is set to continue propelling the Middle East concrete market.
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Middle East Concrete Market Segmentation
The market can be divided based on type, application, end use, and country.
Market Breakup by Type
- Ready-Mix Concrete
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
- Precast Product
- Paving Stones and Slabs
- AAC Blocks
- Pre-Cast Elements
- Building Blocks
Market Breakup by Application
- Reinforced Concrete
- Non-Reinforced Concrete
Market Breakup by End Use
- Roads and Highways
- Residential Buildings
- Dams and Power Plants
Market Breakup by Country
- Saudi Arabia
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Middle East concrete companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Holcim Group
- CEMEX S.A.B. de C.V.
- Alian Industry Company
- Sharqmix – Al Sharq Ready-Mix Concrete
- Bina Ready-Mix Concrete Products
- Al Kifah Ready-mix & Blocks
- Gulf Precast Concrete Co.LLC
- Al Fahd Company
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