GCC Steel Market: Infrastructure Spending, Capacity Expansion & Regional Demand

According to IMARC Group’s latest research publication, The GCC steel market size reached USD 3.50 Billion in 2024. The market is projected to reach USD 5.12 Billion by 2033, exhibiting a growth rate (CAGR) of 4.10% during 2025-2033.

How AI is Reshaping the Future of GCC Steel Market

• Predictive Maintenance and Efficiency: AI algorithms monitor equipment in real-time, predicting failures and reducing downtime by up to 20% in steel plants across Saudi Arabia and UAE, optimizing production and lowering costs.
• Quality Control Optimization: Machine learning detects defects instantly during manufacturing, ensuring higher-grade steel output and minimizing waste in GCC facilities focused on construction and infrastructure.
• Energy and Process Optimization: AI-driven systems enhance furnace operations and energy use, supporting low-carbon production goals in green steel initiatives throughout the region.
• Supply Chain and Demand Forecasting: Advanced analytics predict market demands, improving inventory management and supporting export strategies for GCC steel producers.

How Vision 2030 is Revolutionizing GCC Steel Industry

Saudi Arabia envisions 2030 and acts in its GCC role to diversify economies and integrate regionally, so it will transform the steel industry. Mega-projects across the region, such as NEOM, The Line and new cities, will drive steel demand and growth throughout the sector. Expansion of domestic steel production is being driven by the growing demand for localized and more environmentally sustainable production. To achieve steel production independence and sustainability until 2030, China plans to satisfy almost all steel demand through incentivized, subsidized, and newly built plants to reduce imports, provide jobs, and secure the domestic supply chain. Sustainable investments for cleaner steel production, hydrogen-ready and variable scrap recycling plants lead to reduced carbon emissions for GCC-produced steel that is competitive globally. Complementary programs, such as the UAE's Operation 300bn, triple the contribution of steel-intense industrial sectors to GDP, supporting advanced steel fabrication and exports. The construction of railways, renewable energy projects, and industrial zones across the GCC will further position it as a high-value, low-emission steel producer within a diversifying industrialized economy, increasing foreign investment in the region.

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GCC Steel Market Trends & Drivers

The GCC steel market is experiencing rapid growth. Record levels of investment are being made in infrastructure, transport and energy mega projects, as well as in economic diversification, causing demand to rise for structural and long steel products in one of the world's rapidly urbanizing regions. Key to growth are green steel initiatives (hydrogen, recycling, and low-carbon technologies), increasing localization (accelerated by governments to reduce imports and protect the domestic supply chain), and investments that increase capacity and lower carbon emissions in the locations where steel is manufactured.

Industrialization, growth of other industry sectors defined in national visions, increasing demand of value added high grade steels for automotive, aerospace and renewables, and efficiency increases through digitalization are driving structural steel sector growth. Structural steel fabrication is currently in rapid growth. The recruitment of specialized labor, including from abroad, and sustained domestic demand, alongside strong export potential and pro-steelmaking policies, enable the GCC region to be a regional and domestic competitor in steelmaking.

GCC Steel Market Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Flat Steel
• Long Steel

Product Insights:

• Structural Steel
• Prestressing Steel
• Bright Steel
• Welding Wire and Rod
• Iron Steel Wire
• Ropes
• Braids

Application Insights:

• Building and Construction
• Electrical Appliances
• Metal Products
• Automotive
• Transportation
• Mechanical Equipment
• Domestic Appliances

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in GCC Steel Market

• January 2025: Saudi Arabia’s Ministry of Industry and Mineral Resources confirmed continued local-content and import-substitution measures for steel under Vision 2030, supporting domestic mills supplying infrastructure and housing projects.
• March 2025: Emirates Steel Arkan publicly disclosed operational upgrades and product-mix optimization to serve large UAE infrastructure and construction contracts, per company announcements.
• June 2025: QatarEnergy and Ashghal advanced infrastructure and industrial project awards, generating confirmed procurement demand for rebar, structural steel, and plate products.

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