Exponential Increase in Imports Bolstering Saudi Steel Industry

The steel industry in Saudi Arabia is anticipated to grow at an impressive CAGR growth of 20.5% during 2012-2015 accounting to an amount around 25.6 Million Metric Tons in 2015, says RNCOS.

NOIDA, India (prHWY.com) March 22, 2012 - With multi-billion dollar projects under way and many more at the planning stage by both public and private sectors, Saudi Arabia has gained 51% share in the total GCC construction spending. The Kingdom has shown resilience during the downturn in the construction industry, which affected the globe. In 2009, the country accounted for around 34% of the total Middle-Eastern iron imports. Iron-ore imports showed a CAGR of around 7% during 2006-2010, which itself signify a growing steel industry demand in the Kingdom. Moreover, the situation is projected to take healthier shape in the coming years, with the betterment of economic environment and rising steel demand in Saudi. On the back of such account, steel imports are likely to witness positive momentum and the country is likely to continue being a net importer, says our new report, "Saudi Arabia Steel Industry Forecast to 2013".

Steel consumption in Saudi Arabia has rapidly grown over the past few years on the back of rising construction activities, growing investment in railways, and cheap and reliable gas/energy supply. Besides, rapid increase in the population is anticipated to continue fueling the demand for residential units required during the next five years. Saudi Arabia's economy is being propelled onto a whole new level with the construction of four integrated Economic Cities. With such huge spending, the consumption of steel is anticipated to grow at a CAGR of 20.5% during 2012-2015. To respond to the fast growing demand, there are huge capacity expansion programs underway in the Saudi Arabia steel industry, and it is expected that these will have an impact on steel imports in future.

The report provides an insight into the steel industry's past, present, and future scenario considering all prominent steel industry value-chain determinants including production, consumption, trade, pricing, key players, etc. The report studies the implications of regulatory environment on the steel industry, with focus on developments and initiatives taken by the government. The section on steel pricing analysis updates clients about the fluctuating pricing trend in context of factors responsible for the trend. With immense growth potential, the report foresees huge opportunities for both existing as well as new market players.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM255.htm

Some of our Related Reports are:

- UAE Steel Industry Analysis(http://www.rncos.com/Report/IM135.htm)
- Japan Steel Industry Analysis(http://www.rncos.com/Report/IM351.htm)
- US Steel Industry Outlook(http://www.rncos.com/Report/IM159.htm)
- Indian Steel Industry Outlook to 2012(http://www.rncos.com/Report/IM182.htm)
- China Steel Industry Analysis(http://www.rncos.com/Report/IM309.htm)

Check Related REPORTS on: http://www.rncos.com/Metal.htm

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: saudi arabia steel import

Categories: Business

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