Rising Steel Demand to Push Saudi Arabia’s Domestic Steel Production

Saudi Arabia is one of the most attractive destinations for the global crude steel producers. There are several reasons that prompt investors to capture the market, such as its geographical location equidistant from Africa, Europe, and Asian countries, cheaper availability of labor compared to Europe and America, and cheap & reliable energy & gas resources. Furthermore, steel consumption in the Kingdom has been continuously soaring on the back of fast growing real estate and construction industry. Several infrastructure projects initiated during the past decade have boosted the steel demand in the country.

According to our research report “Saudi Arabia Steel Industry Forecast to 2013” the kingdom has shown strong resilience against the economic slowdown. As a result, Saudi Arabia’s steel industry is once again striving hard to achieve exponential growth trajectory and many steel manufacturers have started formulating capacity expansion strategies in response to the fast growing domestic demand. Our report forecasts that, domestic steel production will grow at a CAGR of around 14% during the forecast period on the back of rising steel demand.

Further, consumption of steel is anticipated to gain an uninterrupted momentum from the government backed massive infrastructure projects. An analysis of the impact of economic slowdown on the real estate activities revealed that, of the total real estate projects (worth US$ 543 Billion), mere 4% have been cancelled or delayed. In other words, of the total 812 projects in real estate, infrastructure, and leisure, 30 projects have been cancelled and 25 have been delayed. Besides, a significant number of projects are currently under the construction phase, of which a considerable share of entire projects costs will be spent on steel products purchases.

“Saudi Arabia Steel Industry Forecast to 2013” provides a detail study of the steel industry outlook in Saudi Arabia till 2015 with analysis of trends and developments. Besides, our report studies the demand supply mechanism and steel trade in Saudi Arabia and GCC. The report aims at providing clarity to the market players and investors in steel industry by bringing together a comprehensive view of the market dynamics and analyzing the growth opportunities.

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