Steel Consumption to Double by 2013 in the UAE

Demand for steel and other construction materials in the GCC region, especially in the UAE, has been growing at a double-digit growth rate for the past several years. According to our research report “UAE Steel Industry Analysis”, steel consumption in the UAE will experience significant growth during 2010-2013. The consumption is expected to get double during the same period. Growth will be mainly fueled by the large infrastructure & property development projects being undertaken in the UAE as these projects will increase the demand for steel and other construction materials in coming years.

 

Our research has found that the UAE is one of the most attractive destinations for international players with factors such as, its geographical location being equidistant from Europe, Africa, and Asian countries, economical and reliable gas and energy resources. We have found that the UAE still accounts for more than half of all GCC construction projects, with around US$ 714.9 Billion worth of construction and infrastructure schemes active in 2009, and a total of US$ 78.2 Billion worth of construction contracts awarded in during the same period. Besides, foreign investment will boost the steel industry in near future.

 

Our research has also found that owing to growing demand for steel in the GCC region, the UAE remains the biggest regional importer of steel. Rebar is among the most attractive steel products in the UAE’s steel industry and accounts for the bulk of steel imported into the region. The UAE stood first in the world in terms of rebar imports in 2008 with most of the imports concentrated in Turkey and China.

 

“UAE Steel Industry Analysis” provides vitalinformation regarding steel production, consumption, trade, and top players with analysis of past and prevailing trends. The report provides growth drivers and recent trends by analyzing industry and company news and market scenario. Our team of experts has studied the industry thoroughly from credible information sources including primary and secondary database. The report is an attempt to provide the best consultancy of the UAE’s steel industry.

For more information visit: http://www.rncos.com/Report/IM135.htm