(MENAFN- P&S Intelligence) According to the latest market research study published by P&S Intelligence, the Saudi Arabian lightweight construction materials market is poised for significant growth, with projected revenues reaching USD 4,036.8 million in 2024 and an anticipated CAGR of 6.7% through 2030, culminating in a market size of USD 5,949.5 million by the end of the forecast period.

This upward trajectory is fueled by the nation's commitment to energy-efficient and sustainable building solutions, aligning with its Vision 2030 objectives. Rapid urbanization and expansive infrastructure developments, such as the NEOM Future Cities, Qiddiya Entertainment City, and the Red Sea Project, are central to this growth. For instance, the NEOM initiative alone entails a USD 5.6 billion investment to construct 10 residential communities accommodating 95,000 residents.

The adoption of lightweight materials offers multiple advantages, including expedited construction timelines, reduced labor requirements, and enhanced project quality. Moreover, these materials contribute to environmental sustainability by lowering transportation fuel consumption and greenhouse gas emissions, resonating with the Saudi government's emphasis on green building practices.

Key Insights

• Residential Sector Dominance: In 2024, the residential application segment is expected to account for 45% of the market revenue, driven by the construction of housing complexes featuring amenities like swimming pools, gymnasiums, and parks.
• Commercial Sector Growth: The commercial segment is projected to experience the highest CAGR of 7.0% from 2024 to 2030, attributed to the kingdom's focus on economic diversification and the promotion of sectors such as tourism, healthcare, and hospitality.
• Material Preference – Metal Alloys: Metal alloys are anticipated to hold a 45% market share in 2024, favored for their low density, high strength-to-weight ratio, and corrosion resistance. This segment is also expected to register the highest CAGR of 7.2% during the forecast period.
• Regional Insights: Al-Riyadh province is projected to be the largest market, while the Eastern Region is expected to witness the fastest growth, reflecting regional development initiatives and urban expansion.
• Technological Advancements: Ongoing R&D efforts by chemical and material companies are enhancing the properties of lightweight construction materials, aligning with the nation's sustainability goals and evolving consumer preferences.
• Market Fragmentation: The market is characterized as fragmented, indicating the presence of numerous players contributing to its dynamic nature.

These insights underscore the robust growth prospects and evolving dynamics of the Saudi Arabian lightweight construction materials market, driven by strategic initiatives, technological innovation, and a commitment to sustainable development.

MENAFN26052025005304011875ID1109595949