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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Saudi Arabia Structural Steel Market Size
Saudi Arabia structural steel market is projected to grow at a CAGR of 4.9% between 2024 and 2032.
Key Takeaways:
- According to the World Bank in 2022, the value added of industrial sector (including construction) constitutes 53.2% of the Saudi Arabian GDP invested.
- Demand for structural steel in Saudi Arabia is increasing due to its ability to be recycled – both partially and completely.
- IMF notes regulatory and business enhancements driving diversification. New laws fostering entrepreneurship, safeguarding investor rights, and cutting business costs spurred significant investment growth in 2022 thus boosting the Saudi Arabia structural steel market growth.
Structural steel is hailed as a versatile and essential construction material, valued for its strength, durability, and adaptability in various architectural and engineering applications. Primarily composed of iron and carbon, with minor elements included, this steel attains its exceptional qualities through a precise manufacturing process involving specific heating and cooling techniques. Its remarkable tensile strength and flexibility enable the creation of robust frameworks and load-bearing structures such as buildings, bridges, and industrial facilities.
The malleability of structural steel allows for easy shaping and customization, empowering architects, and engineers to design intricate and innovative structures. Furthermore, its resistance to corrosion and fire enhances its reliability and longevity. As an environmentally friendly and recyclable material, structural steel plays a pivotal role in modern construction, contributing significantly to the efficiency and safety of a wide range of projects.
According to World Bank in 2022, the industrial sector in Saudi Arabia, including construction, is experiencing rapid growth. A significant portion, 53.2% of the GDP, is being invested in this sector, which has contributed to Saudi Arabia structural steel market.
Saudi Arabia Structural Steel Market Report Snapshots
Saudi Arabia Structural Steel Market Size
Saudi Arabia Structural Steel Market Trends
Saudi Arabia Structural Steel Companies
Saudi Arabia Structural Steel Market Regional Analysis
*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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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.90% between 2024 and 2032.
The demand for structural steel in Saudi Arabia is propelled by robust growth in the industrial sector, the adoption of sustainable construction practices, cost efficiency, and rising investments.
The structural steel market is categorised according to its product type, which includes H-Type Beam, I-Type Beam, Columns, Angles, and others.
The market key players are Saudi Iron and Steel Company (HADEED), Al Ittefaq Steel Products Co's (ISPC), Alfanar Group, Zamil Structural Steel Co. Ltd., Arabian Metal Product Organization, and Isam Khairi Kabbani Group among others.
Based on the usage it is divided into Direct End-User, EPC-Contractor, and Others.
The major market areas include the Northern and Capital Region, Western Region, Eastern Region and Others.
Based on the end use, the market is divided into residential, commercial, and manufacturing.
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+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