"Saudi Arabia is highly dependent on its oil income but is vulnerable to the volatility of oil price. The Kingdom possesses 18% of the world's proven petroleum reserves and ranks as the largest exporter of petroleum. The government is diversifying the country’s economy along with its dependence on oil. So, the non-oil sector as a whole is set to keep benefiting from government spending, corporate lending and domestic consumption. In particular, Saudi Arabian government is increasing investment for the Kingdom’s socio-economic development.
Our latest report “Saudi Arabia Steel Industry Outlook 2024”, provides an in-depth analysis of the steel industry in the Kingdom. The report analyzes the Saudi Arabian steel industry’s performance from 2015 to 2024 by highlighting its major growth drivers.
During the research, RNCOS’ analysts studied Saudi Arabia’ crude steel production along with finished steel production and consumption in the country. To provide a clear picture of the steel industry, our analysts segmented finished steel into long products classified as rebar and structural sections; and flat products classified as coils (strips & sheets), plates and tubular products. The report provides the current scenario and forecast for each of these product segments till 2024.
It further provides a comprehensive analysis of steel export and import to the country, which includes the steel trade scenario by product, covering long products, flat products and tubular products
Besides, study of the steel scrap market and information about the current regulatory environment have been discussed extensively in the report.
In particular, to provide a balanced outlook of the country’s steel industry to our clients, the current report includes profiles of the major industry players covering their business overview, recent developments and information about their key management personnel. In a nutshell, the research provides all the prerequisites for intending clients looking out to venture into this industry, and facilitates them to devise strategies, while going for an investment/partnership in the Saudi steel industry."