Development of Economic Cities Drive Steel Demand in Saudi Arabia

Crude steel consumption in Saudi Arabia is projected to grow at a CAGR of 7.2% during 2015-2019, says RNCOS in its latest research report.


Noida, UP -- (SBWIRE) -- 11/21/2014 -- Saudi Arabia steel industry is expected to experience a significant growth driven mainly by establishment of smart economic cities. Increasing population in the Kingdom thrives the demand for huge residential projects along with better hospitality, educational, communication and transportation facilities. To meet this demand, Saudi Arabia is establishing economic cities to provide most advanced urban communities in terms of sustainability to its citizens. Steel is the most widely used construction material due to its strength, performance, consistency and flexibility in design. It is expected that, steel demand in the Kingdom will increase significantly in coming years.

According to our latest report “Saudi Arabia Steel Industry Outlook 2019”, Saudi Arabia government focus more on the infrastructure expansion to retain growth and diversify its economy by empowering private sectors which further enhance the Kingdom steel industry. Increasing focus on power generation, oil and gas exploration, telecommunication and petrochemical sector further drive the steel demand in the Kingdom. Further, rapid developments of railway projects in the Kingdom also increase the demand for steel in the Kingdom. It is anticipated that, crude steel production in Saudi Arabia will grow at a CAGR of 7.2% during 2015-2019.

The report provides a comprehensive analysis and unbiased view of the Saudi Arabia steel industry in terms of production consumption in Saudi Arabia covering both, crude and finished steel. Further, the report provides comprehensive analysis of long, flat and tubular steel products. The report also provides the breakup of Long products into rebar, structural sections & others while flat products classified as coils, strips & sheets and plates. In addition to that, the report covers detailed analysis of trade scenario by products covering ingots & semi finished steel, long products, flat products and tubular products.

This report also analyzes Saudi Arabia steel industry by its application in major sectors viz. construction & infrastructure, manufacturing and oil & gas industry. Additionally, study of steel scrap market, information about the current regulatory environment and steel pricing in the Kingdom comprising price of rebar, billets, hot rolled coil etc. are also covered in this report. A details analysis of major Saudi Arabia steel industry players along with their business overview, management profile and some recent developments are also included in the report. Overall, the report will facilitate clients in analyzing the driving forces and understand the existing opportunities in the Saudi Arabia steel industry.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.