Economic Cities Development Propelling Steel Demand in the Kingdom

Rapid development of economic cities is driving the demand for both semi-finished and finished steel, says RNCOS.


Noida, UP -- (SBWIRE) -- 07/16/2014 -- Saudi Arabia is in a process of development of four new economic cities. The economic cities being developed in the kingdom include King Abdullah Economic City (KAEC), Jazan Economic City (JEC), Prince AbdulAziz bin Mousaed Economic City (PABMEC) and Knowledge Economic City (KEC). According to a new report by RNCOS “Saudi Arabia Steel Industry Outlook 2018”, these economic cities are being developed to help the Kingdom to achieve its economic goals, like diversifying the sources of economic resources, achieve sustainable development and raise the share of the non-oil sector in the Gross Domestic Product (GDP).

According to our report, each of the cities has its own development plans. For instance, Knowledge Economic City has plans for the construction of Taiba Complex for Technology and Knowledge-based for Economy, Technological and Administrative Colleges, Islamic Civilization Studies Center and a business centre. Similarly King Abdullah Economic City will be comprising of six components including the Seaport, the Industrial Zone, the Educational Zone, the Central Business District, the Residential Areas, and the Sea Resorts. Thus, all this will increase the demand for steel in the kingdom in the coming years as well and hence provide a boost to the Saudi Arabia steel industry growth.

The report, “Saudi Arabia Steel Industry Outlook 2018”, by RNCOS is spread over 85 pages, covers steel production and consumption forecast till 2018 of crude and finished steel. Finished steel has been further segmented into long and flat products. Long products have been further classified into rebar and structural sections. Similarly, flat products has been segmented into coils, strips & sheets and plates. Our comprehensive report has closely studied and provided market forecast till 2018 for production and consumption of both products and their types.

Further, the report provides steel imports of ingots and semi-finished steel, long products, flat products, and tubular products. In a similar manner, the steel exports scenario has also been provided. An overview of steel demand from infrastructure & construction industry and manufacturing industry has been added to project the consumption pattern of long and flat steel products for the years 2014 and 2018. The report also sheds light on the drivers supporting growth of the steel industry along with competitive landscape covering the business overview, management profile and in some cases recent developments of some players.

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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.