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Saudi Arabia Steel Industry Forecast 2017
Buoyed by construction boom and growing investment in the real estate sector, Saudi Arabia has become one of the largest steel consumers in the GCC region. The construction sector in the country is considered as the largest and the fastest growing market in the Gulf region with huge growth potential. Booming construction activities in Saudi Arabia, has led to significant steel demand.
In their latest research study, “Saudi Arabia Steel Industry Forecast 2017”, RNCOS’ analysts have identified that steel consumption in the Kingdom has gone up at a faster pace over a decade. The main factors are rising construction activities, growing investment in railway, infrastructure and road projects, and cheap and reliable energy supplies. In 2012, the steel consumption experienced double-digit growth; and in future, it is expected to grow at a CAGR of 11.7% during 2013-2017.
In the report, RNCOS’ analysts have studied the Saudi Arabia steel industry’s performance in terms of production, consumption, import and export. They have studied steel production and consumption at product level including finished steel, long products, flat products and tubular products along with their forecast till 2017. In long products, rebar steel dominates finished steel consumption and the report covers detailed analysis of rebar production and consumption in Saudi Arabia along with their forecasts. Besides, the report includes steel scrap market analysis in the country.
RNCOS’ analysts have found that the steel industry in Saudi Arabia is highly import oriented as more than half of the steel consumption is met through imports. The report covers a detailed analysis of steel imports including finished steel, semi-finished steel, ingots, long products, flat products, and tubular products. In addition, the report covers the major iron and steel exporting countries to Saudi Arabia. The analysts have also conducted the primary survey of major steel producing companies, importers, exporters and construction companies through CATI, e-mail to have a clear understanding of the steel industry growth prospects in Saudi Arabia.
With the industry’s immense growth potential, the study foresees huge opportunities for both existing and new market players. The report also includes the profiles of key industry players like Hadeed, Al Tuwairqi, Rajhi Steel and Saudi Steel Pipe Company, among others. The analysts have also studied how the regulatory environment and initiatives taken by the government are affecting the market. Overall, the objective of the study is to help clients understand the prospects of the industry, and make sound investment decisions in view of the same.