Booming construction activities in Saudi Arabia has lead to significant steel demand and made the country one of the favorite destinations for steel manufacturers. The Kingdom comprises the largest construction market in the Gulf region with multi-billion dollar projects under way through both public and private sectors. Several of Saudi Arabia’s major cities – Jeddah, Riyadh and Mecca and surrounding areas are going to benefit from the Kingdom’s plans to roll out public transport and construction projects in the coming years. In addition, the government capital expenditure for the construction projects has been rising continuously. Presently, the government has decided to spend 2% higher than the previous year for the upcoming construction project.
In their latest research study, “Saudi Arabia Steel Industry Forecast 2017”, RNCOS analysts identified that steel consumption in the Kingdom has gone up at a faster pace over a decade. The main factors are rising construction activities, growing investment in railway, infrastructure and road projects, and cheap and reliable energy supply. In 2012, the steel consumption in the country experienced double-digit growth; and in future, the apparent steel consumption is anticipated to grow at a CAGR 11.7% during 2013-2017.
In the report, we have studied the Saudi Arabia steel industry’s performance in terms of production, consumption, import and export. We have studied the steel production and consumption at product level including finished steel, long products, flat products and tubular products along with their forecast till 2017. In long products, rebar steel dominates the total finished steel consumption due to large number of ongoing infrastructure and construction projects in the country. Our report covers a detailed analysis of rebar production and consumption in Saudi Arabia along with their forecast. Besides this, the report covers the steel scrap market analysis in the country.
We found that steel industry in Saudi Arabia is highly import oriented as more than half of the steel consumption is met through imports. Our report covers a detailed analysis of steel imports including finished steel, semi-finished steel, ingots, long products, flat products, and tubular products. Our report also includes the profiles of key industry players, like Hadeed, Al Tuwairqi, Rajhi Steel and Saudi Steel Pipe Company, among others. Overall, the objective of the study is to help clients understand the prospects of the industry, and make sound investment decisions in view of those. We have also studied how the regulatory environment and initiatives taken by the government are affecting the market.
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Some of our Related Reports are:
- US Steel Industry Outlook to 2015 (http://www.rncos.com/Report/IM452.htm)
- KSA Steel Industry Forecast 2015 (http://www.rncos.com/Report/IM455.htm)
- Saudi Arabia Steel Industry Forecast to 2013 (http://www.rncos.com/Report/IM255.htm)
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