Saudi Arabia Premix Plaster Market Projected to Hit $3.4 Billion by 2027 | Growth with Recent Trends & Demand

According to a new report published by Allied Market Research, titled, "Saudi Arabia Premix Plaster Market by Binding Material and End-User: Opportunity Analysis and Industry Forecast, 2020-2027",

The Saudi Arabia premix plaster market was valued at $2.3 billion in 2019, and is projected to reach $3.4 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.

The Saudi Arabia premix plaster market is heading toward an expansion phase. This is mainly attributed to a significant surge in demand from residential and commercial areas for large number of construction projects. Furthermore, favorable government policies, coupled with robust foreign investment is expected to positively impact the market growth.

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Premix plaster is used on building material surface to hold bricks or stones together in internal or external plastering. However, some of the plasters, such as lime and gypsum-based plasters, are only used for internal plastering. The application of premix plaster can reduce labor cost of mixing and processing on construction site. Moreover, it does not require materials like sand, aggregates, cement, and water, which further reduces the cost of finding new vendors.

The demand for premix plaster is driven by new construction projects and modernization of existing infrastructure. Premix plaster is widely preferred for large projects to reduce the manpower requirement and storage space for sand, cement, and aggregates. However, premix plaster requires effective transportation between construction site and batching plant, which requires huge amount of capital investment.

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Based on binding material, cement-based premix plaster garnered significant market share. This is attributed to growth in demand for exterior, interior, and ceiling application. In addition, cement-based premix plaster is more effective in heavy constructions, owing to high density compared to lime and gypsum-based plasters.

Based on end user, the residential end user is expected to witness significant market growth. This is attributed to rise in foreign direct investment in various social and urban development projects. Initiatives taken by the government including tax concession, low cost of sites is expected to create new opportunities in the market.

Key Benefits for Stakeholders:

► The Saudi Arabia premix plaster market analysis covers in-depth information of major industry participants.

► Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.

► Major countries have been mapped according to their individual revenue contribution to the regional market.

► The report provides in-depth analysis of the Saudi Arabia Premix Plaster market forecast for the period 2020-2027.

► The report outlines the current Saudi Arabia Premix Plaster market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.

► The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.

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Key Market Players:

► Saudi Readymix
► Saudi vetonit co. Ltd
► Unibeton Ready Mix
► Saint-Gobain Weber Middle East
► Conmix Ltd
► Don Construction Products ltd

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Saudi Arabia Natural Surfactants Market: https://www.alliedmarketresearch.com/saudi-arabia-natural-surfactants-market-A264268

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Frequently Asked Questions:

Q1. Which are the factors that drive Saudi Arabia Premix Plaster Market growth?

Answer: Growth in urbanization, robust investment in building and construction sector are the factors that drive Saudi Arabia Premix Plaster Market growth

Q2. What are the key growth strategies of Saudi Arabia Premix Plaster Market players?

Answer: Acquisition, new product launch, and agreements are the key growth strategies of Saudi Arabia Premix Plaster Market players.

Q3. Who are the leading players in Saudi Arabia Premix Plaster Market?

Answer: Saudi Readymix, Saudi vetonit co. Ltd., Unibeton Ready Mix, Saint-Gobain Weber Middle East, Conmix Ltd., and Don Construction Products ltd. are some of the key players in the market

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