UAE has witnessed the unparalleled development and revolution in past few years, mainly due to its high oil wealth. The rapid economic development of the country has been resulting in extraordinary growth in construction and infrastructure industry, which has attracted investors from all around the world.
According to our new report “UAE Steel Industry Analysis”, steel demand in the country has expanded rapidly over past few years, on the back of construction boom, cheap and reliable gas and energy supply, growing investment in real estate sector, economic growth and rising income level. Currently, because of global economic crisis, there is a limited demand for steel in the country, but it is expected that the condition will start improving in the second half of 2009 and steel consumption in the country will reach 15 Million Tons by the end of 2012.
We have found that UAE’s steel industry is highly import-oriented. The country imported around 8.6 Million Metric Tons of steel in 2007 while it consumed 10 Million Tons of steel in the same year. With major expansion plans by steel players in the country, the share of imports is expected to come down in coming years.
Our research also highlights the factors which are expected to drive the growth of UAE’s steel industry over the forecast period. It says that increase in real estate projects in the UAE’s Dubai and Abu Dhabi emirates is currently the key driving force behind the growth, and this trend coupled with government’s initiatives is playing a greater role in promoting reforms and increasing competitiveness.
Realizing the current market trends and anticipating the future prospects, we have done a comprehensive analysis of the UAE’s steel industry. The report covers various aspects of the country’s steel industry, discussing its production, consumption and import/export.
This report provides an insight into UAE’s steel industry and studies its past, present and future scenario. The report is aimed at offering clients a strategic insight into the UAE steel industry so that they can better analyze the opportunities critical for their success in the market.
With immense growth potential, our research foresees huge opportunity for various market players like Emirates Steel Industries, Al Nasser Industrial Enterprises, Alam Steel Industries LLC, Qatar Steel and Al Ghurair Iron & Steel L.L.C.
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