Saudi Arabia's steel demand has made the country one of the largest consumer in the GCC region. The country also accounts for significant number of construction activities in the Middle-East region. Over the past decade, steel consumption in the kingdom has increased considerably buoyed by construction boom, growing investment in the real estate sector and rapid infrastructure developments. In addition, the steel industry has witnessed tremendous growth in terms of production, as various players are expanding their production capacities to meet the soaring steel demand.
In the latest research report “Saudi Arabia Steel Industry Outlook 2018”, RNCOS' analysts have studied the Saudi Arabian steel industry's performance in terms of production, consumption, import and export. The report 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. Extensive research and analysis revealed that long products occupy almost two-third share in finished steel consumption. In long products, rebar dominates finished steel consumption in Saudi Arabia. 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.
Yet, the steel industry in Saudi Arabia is highly import oriented, as more than half of the steel consumption is met through imports. The report provides steel imports of ingots and semi-finished steel, long products, flat products, and tubular products. In addition, the report covers the major iron and steel exporting countries to Saudi Arabia.
Massive spending on infrastructural developments and growth of construction sector has boosted demand for steel products. Major industry players include Hadeed, Al Tuwairqi Holding, Rajhi Steel and Zamil Steel Holding Company Ltd, among others.