Sunday 18 November 2018

Gulf flooring market to reach $10bn by 2026: report

DUBAI, May 15, 2017

The flooring market across the Gulf is set for a decade of strong growth and is expected to reach an annual value of $10 billion by 2026, according to a report by analyst BNC.

The report revealed that widespread new builds and renovation projects throughout the region will lead to consistent, exponential growth of more than five per cent per annum.

Driven by urban development across all sectors – predominantly residential, office, hospitality and retail – the demand for flooring runs parallel with the vast ambitions of the leading GCC nations, which will host a number of global events in coming years.

Middle East Covering, being held in Dubai, UAE, from May 22 to 25, will bring together leading figures from the international flooring and surface industry, all looking to secure partnerships to supply interior and exterior covering solutions to the thousands of ongoing and future building and redevelopment projects planned for across the Middle East.

Yan Wang, event director at Middle East Covering, said: “The growth we are seeing across the GCC for the flooring market - especially in the UAE – is reflected in the increase in GCC distributor channels we have for our 2017 event.”

“With 20,885 construction projects ongoing in the GCC, the demand for the likes of carpets, rugs, tile, vinyl, rubber, wood and laminates is already being felt across the flooring industry. The event offers a trade window to showcase the best of each of these, as well as all kinds of wall coverings and interior surfaces,” he said.

BNC research discovered that the UAE is leading the way in the GCC flooring boom, with almost 9,000 projects already under way. That has been attributed to rising tourist numbers and the push ahead of Dubai Expo 2020. Saudi Arabia (3,000 new builds) and Qatar (2,000) follow, as they work towards Saudi Vision 2030 and hosting the FIFA World Cup 2022 respectively, said a statement.

The steady demand for flooring and fit-outs provide positive growth for the industry with an estimated $252 billion in the beginning stages of construction, opening even more opportunities over the next couple of years, it said.

Middle East Covering, now in its third year, is the Middle East and North Africa’s (Mena) premier sourcing platform for surface covering, bridging the gap between supplier and buyer in the region. This year’s four-day meet will welcome more than 200 top international brands and thousands of business and industry professionals; predominantly architects, designers and buyers working on the Gulf’s biggest projects.

As the region’s only dedicated surfaces event, Middle East Covering will unite hundreds of international companies specialising in contract business interiors, exterior flooring and wall coverings, providing visitors unprecedented access to more than 2,000 products and a host of unique covering-led features found nowhere else in the Middle East & North Africa.

The show is aimed at facilitating business between international brands and enables them to unlock the contract procurement potential of the GCC, it stated. – TradeArabia News service

Tags: | market | 2026 | Gulf flooring |

More Construction & Real Estate Stories

calendarCalendar of Events