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The Middle East and Africa stainless steel market size reached USD 9.07 billion in 2023. The market is expected to grow at a CAGR of 3.8% between 2024 and 2032, reaching almost USD 12.75 billion by 2032.
Stainless steel is a versatile alloy primarily composed of iron with high chromium content, enhanced by elements like nickel, molybdenum, and others. Its corrosion resistance, durability, and aesthetic appeal make it a favoured material across industries including construction, automotive, and infrastructure. Despite setbacks from the COVID-19 pandemic, the industry rebounded in 2021 driven by demand from construction and automotive sectors driving the Middle East and Africa stainless steel market growth.
In the Middle East, stainless steel is experiencing robust growth due to expanding construction, automotive, and infrastructure industries. Its corrosion resistance and strength make it ideal for architectural finishes, structural elements, and automotive components. The region's focus on sustainability aligns with stainless steel's recyclability and longevity, driving further market expansion.
Architects and engineers favour stainless steel for its corrosion resistance in challenging environments. In construction, it is used for beams, columns, railings, roofing, and more. The Middle East's stainless steel market growth is fuelled by infrastructure projects and industrial expansion, evidenced by major investments like SeAH Gulf Special Steel's USD 270 million seamless pipe factory.
Saudi Arabia's real estate boom and the UAE's transition to sustainable materials highlight growing demand for stainless steel in the region. With significant investments in stainless steel production and a focus on sustainability, the Middle East and Africa stainless steel market development is expected to witness continued growth and innovation.
Middle East and Africa Stainless Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Country
Key players in the stainless steel market in Middle East and Africa offer products utilising advanced technologies and sustainable production practices while carrying out mergers and acquisitions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to be valued at USD 9.07 billion in 2023.
The market is projected to grow at a CAGR of 3.8% between 2024 and 2032.
The stainless steel market is expected to witness significant growth to reach USD 12.75 billion in 2032.
The market is categorised according to its type, which includes cold flat, hot coils, hot bars/wire rod, cold bars/wire, hot plate and sheet, and others.
The key market players are Nippon Steel Corporation, Aperam SA, Outokumpu Oyj, POSCO Co., Ltd., Acerinox S.A., ArcelorMittal S.A., JFE Steel Corporation, and others.
The market is driven by factors that include expanding construction, automotive, and infrastructure industries along with increasing investments in various industries, among others.
The market is categorised according to its application, which includes metal products, mechanical engineering, construction, automotive and transportation, electrical machinery, and others.
China accounts for the largest consumption of stainless steel globally with industries, urbanisation and infrastructural development increasing the demand.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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