Cement Industry in Saudi Arabia Faces Intense Competition and Price War
Saudi Arabia's cement industry is facing intense competition due to the giga-projects boom in the country's central region.
This has led to a surge in clinker inventory levels and a drop in local cement sales.
The report from AlJazira Capital predicts that this competition will likely escalate into a price war, with companies cutting prices to retain market share.
This price war could lead to a decrease in exports for the cement industry by the end of 2023.
Additionally, 14 cement companies in Saudi Arabia were recently fined a total of SR140 million by the country's antitrust authority for colluding to raise cement prices.
The report from AlJazira Capital predicts that this competition will likely escalate into a price war, with companies cutting prices to retain market share.
This price war could lead to a decrease in exports for the cement industry by the end of 2023.
Additionally, 14 cement companies in Saudi Arabia were recently fined a total of SR140 million by the country's antitrust authority for colluding to raise cement prices.
