Growth of Construction Sector Boosting Demand for Steel in UAE

The rapid pace of development in various emirates is propelling construction sector growth in UAE, says RNCOS.


Noida, UP -- (SBWIRE) -- 09/02/2014 -- The construction sector of UAE has seen a rapid growth in past few years with the increasing pace of development. Further, the rising purchasing power of citizens has also been propelling the construction companies to offer better options to the citizens and expats. Also, with UAE becoming a preferred destination by expats, the population is rapidly increasing, hence creating a need for more residential areas. According to a new report by RNCOS, “UAE Steel Industry Outlook 2018”, with the increasing investment in infrastructure and real estate sectors, the demand for steel has been increasing in UAE.

According to our report, large numbers of infrastructure projects were completed in 2013, and similar trends are expected to follow this year as well. For instance, about 22,000 new homes were completed in Abu Dhabi in the last quarter of 2013, with another 22,000 expected to complete in 2014. Further, at the start of 2013, Abu Dhabi Executive Council announced to invest Dh 330 Billion (US$ 89.8 Billion) into the economy over the next 5 years that includes spending on new homes and schools among other constructions. Thus, the huge investment in construction projects in the recent years is leading to an equivalent increase in the demand for steel in UAE.

The report “UAE Steel Industry Outlook 2018” thoroughly analyzes the UAE steel industry’s performance in terms of production, consumption, import and export. It covers 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 classified into rebar and structural sections. Similarly, flat products have 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 long & flat products and their types.

The report also covers steel imports & exports of ingots and semi-finished steel, long products, flat products, and tubular products. In addition, the report highlights the major steel exporting countries to UAE along with the countries from where UAE imports steel. The long and flat steel products consumption outlook till 2018 in construction & infrastructure and manufacturing industry has also been provided. The report also sheds light on the drivers and provides competitive landscape covering the profiles & key management people of various industry players like Emirates Steel and Conares, among some.

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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.