The Middle East Long and Flat Steel Products Market was USD 19.2 billion by value and x million Tonnes by volume in the year 2020. Strong governmental expenditures, buoyed by high energy prices will continue to spur construction-led steel demand for the region. In addition, with all eyes on the Middle East, it has great potential to develop their manufacturing industry which will pull the demand in subsequent years. GCC Steel producers must focus on improving the supply chain process and reduce operation costs besides improving customer service in order to be efficient producers and overcome the market challenges which includes the global protectionism, surge of raw material prices, sluggish demand and drop in selling prices. Moreover, the Gulf Cooperation Council (GCC) region is making major efforts towards non-oil diversification and manufacturing sector growth.
The construction industry in the GCC has suffered much in 2020 with economic shocks of Covid-19 and tumbling oil prices that left demand for construction materials such as rebar weaker for most of the year.
Companies including Qatar Steel, Emirates Steel, SABIC Steel, and Bahrain Steel are reinforcing their competitive advantage in steel business and focusing on securing new growth engines driven by innovative technologies including IoT, AI, and big data, which has been forecasted to infuse a robust growth in the Long and Flat Steel market during the coming years.
Additionally, rapidly rising population would lead to growth in infrastructure development, with special emphasis on public services, transportation and housing in urban centers which will further facilitate the market growth. Further, escalating investment in various construction and infrastructure projects with steel manufacturers focusing on improving their production capacity, will drive substantial growth in the market in future.
Scope of the Report
• The report analyses the Middle East Long and Flat Steel products Market by value (USD Million).
• The report analyses the Middle East Long and Flat Steel products Market by volume (Thousand Tonnes).
• The report analyses the Middle East Long Steel products Market (By Product Type, By End User).
• The report analyses the Middle East Long Steel products Market, By Product Type (Rebar, Wire Rod, Merchant Bar, Rail, and Others).
• The report analyses the Middle East Long Steel products Market, By End User (Construction, and Others).
• The report analyses the Middle East Flat Steel products Market (By Product Type, By End User).
• The report analyses the Middle East Flat Steel products Market, By Product Type (Hot Rolled Coils, Cold Rolled Coils, Galvanized Steel, and Color Coated Steel).
• The report analyses the Middle East Flat Steel products Market, By End User (Construction, Mechanical Equipment, Automotive, and Others).
• The Middle East Long and Flat Steel Products Market has been analysed By Country (Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Oman, and Iran).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include SABIC Hadeed, Emirates Steel Company LLC, United Steel Industrial Company (KWT Steel), Qatar Steel, Al Ghurair Iron & Steel L.L.C., Al-lttefaq Steel Products Company, Mobarakeh Steel Company, Rajhi Steel.
• The report presents the analysis of Middle East Long and Flat Steel products Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
• Steel Manufacturers
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
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