Apart from being really easy to make, here are some more reasons why I like to make this sauce at home
Paprika oleoresin is a natural extract derived from the spice paprika, which is made from ground, dried Capsicum annuum peppers. The oleoresin is obtained through a solvent extraction process that captures the essential oils, pigments, and flavors of paprika. It is a concentrated form of the spice, often used as a coloring and flavoring agent in the food industry.
Other than sambal oelek, you can go for chili paste, crushed chili flakes or even cayenne pepper to replace sriracha. Although these substitutes may not be hot enough, neither do they have the same thick consistency as Sriracha, yet will serve the same basic purpose.