KSA flooring firms eye Europe market
Al Sorayai plans to increase the companys EU market share through more overseas exhibitions
Al Sorayai Trading and Industrial Group is monitoring Europe’s construction industry, which is expected to achieve market stability this year, according to the firms managing director Saleh Nasser Al-Sorayai. “Europe has been a lucrative market for us, even amid the downturn. We intend to further expand our presence in the region, specifically by interacting with current and potential customers through high-profile industry events. “This year is of great significance because there are high expectations for at least moderate recovery across sectors that are linked to our line of business. We are highly prepared to meet demand should a strong market upswing occur,” explained Al Sorayai.
Prior to the full worldwide impact of the economic downturn towards the end of 2008, the global market value of the flooring and carpets trade was set to climb by 2.5% annually and reach US $150 billion by 2012, claimed Al Sorayai Trading and Industrial Group.
Positive 2010 forecasts such as the United Nations World Tourism Organisation’s prediction of a 1-3% growth in international tourism and the McGraw-Hill Construction Outlook 2010 Report’s expectation of increased construction activity are expected to boost the demand for flooring materials and coverings.
Europe is a particularly profitable target market due to the huge volume of its planned and ongoing construction activities, added Al-Sorayai.
The company exhibited at carpets and flooring trade show Domotex Hannover in Germany in January.
