Saudi Arabia Steel Industry Is Witnessing Rapid Strides

The steel industry in the Kingdom is witnessing rapid growth on the back of enormous development taking place, says RNCOS.


Noida, UP -- (SBWIRE) -- 05/30/2014 -- According to a new research report by RNCOS, “Saudi Arabia Steel Industry Outlook 2018”, the steel industry of Saudi Arabia is growing at a considerable rate over the past few years. The production and consumption of both semi-finished and finished steel is increasing in the country with the growth in infrastructure and manufacturing sectors amongst some. The rapid pace of industrialization has prompted the country to increase its steel production along with the reliance on imports. Moreover, with further development of infrastructure and commercial projects, the demand & production of steel is expected to increase in Kingdom in the coming years.

Research Analysis & Highlights

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.

Some of the key findings of the report are:

- Steel consumption is rising due to various developmental projects in the Kingdom.
- Development of economic cities in the country is driving the demand for semi-finished and finished steel products.
- With the increasing capacity of steel production of Saudi Arabia, the exports of the country are bound to increase in the future.
- Finished steel production in the kingdom is set to increase more in future.

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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.