Market Trends of Middle-East and Africa Industrial Flooring Industry
This section covers the major market trends shaping the MEA Industrial Flooring Market according to our research experts:
Growing Demand from Industrial Construction Sector
- Industrial flooring is widely used in the construction sector as it provides unique features that cannot be availed from concrete floors, such as anti-bacterial, abrasion resistance, chemical resistance, easy maintenance, flammability, and scuff resistance.
- In order to reduce dependence on the oil economy, Saudi Arabia launched various construction and city development projects as part of Vision 2030.
- The Kingdom city, also known as Jeddah Economic City, covers an area of over 5,202,570 m² in the Hejaz region of Saudi Arabia. This economic city will include 210 towers and in-premise transportation facilities. The city will be divided into three districts, namely the residential district, the financial district, and the recreation district.
- Similarly, Qiddiyah City Project was launched by the government in Saudi Arabia in 2021 and aims at developing a city 45 km Southwest of Riyadh. The major development nodes of construction in this project will be Resort Core, a City Center, an Eco Core, a Motion Core, and a Golf and Residential Neighborhood.
- These factors are expected to lead to an increase in the demand for industrial flooring in the forecast period in the Middle East and Africa region.
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South Africa to Dominate the Market
- South Africa is one of the largest construction markets in the African region. The reason for the fast-track construction projects is funding from the United Kingdom.
- Nkuna Smart City Project is one of the largest projects in South Africa. It is a city development project near Elim town in Limpopo. The city is planned to have facilities for manufacturing industries, retail centers, residential, business sites, hotels, intermodal facilities, medical, educational, and sports facilities.
- The largest residential project being developed by South Africa in the North of Durban is the Cornubia housing project. This project will include residential, commercial, and industrial sites. The area allocated for this project is 1,200 hectares, and the budget is USD 1.5 billion.
- Vista Park Extension 3 is one of South Africa's three capital cities on 126 Ha piece of land in Bloemfontein. This project is also a mixed-use project, which includes the development of 6 business and retail opportunities (mixed-use), 4 crèches, 4 religious sites, 3 schools (Primary and Secondary), 10 parks (active and non-active), and 1 hospital.
- These aforementioned factors are expected to drive the market growth during the forecast period.
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