A report by Al Rajhi Capital, a leading financial services provider in the kingdom indicated that the sales volumes of cement in the Kingdom of Saudi Arabia decreased both on an annual (10.5 percent) and monthly basis (16.3 percent) to 4.28 metric tonnes in February, thereby indicating lower demand, primarily because of the Ramadan season.
It stated that the Yamama Cement recorded 11.6 percent YoY growth, commanding 15.2 percent market share in the month of February.
Al Rajhi Capital announced that the clinker inventory also dropped by 0.3 percent m-o-m to 42.7MT, and Southern cement had the most inventory (20 months of LTM avg. sales).
This is largely motivated by Ramadan-related seasonality that is likely to continue throughout most of the month of March. In the previous year, most of the effect was busy in the month of March.
Out of the coverage companies of Al Rajhi Capital Research, Yamama Cement was the only company to experience y-o-y growth of 11.6 percent, with all other companies registering YoY decrease.
On the geographic front, the only gainer was the Eastern region, which registered growth of 1.5 percent YoY, largely due to Eastern Cement (+16.7 percent YoY). It reported that the Northern and Southern region sales dropped 21.8 percent and 16.1 percent, respectively.
On its inventory of clinker, Al Rajhi Capital reported that it has decreased to 42.7 MT m-o-m, as of February 2026.
The financial powerhouse in its report stated that its coverage companies have the lowest inventory levels (Riyadh Cement has 4 months of LTM average sales compared to the industry average of 11 months), Saudi Cement and Yamama Cement had 6 months of inventory, and Qassim Cement had 9 months of inventory.
Najran Cement has 13 months of inventory compared to 14 months and 15 months of inventory of Arabian Cement and Yanbu Cement. TradeArabia News Service reported that Southern Cement had the highest inventory level in 20 months.
