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The local demand on steel rebar in KSA witnessed CAGR of 8% during 2018 to 2022. This demonstrates the significant growth in the market due to the increased demand on housing projects in the past five years.
More than 95% of KSA market demand were met by local production during the past five years.
The local demand on steel wire rods saw an annual growth of 6% during the period from 2018 to 2022, as a result of the increase in construction activities and major projects inside the Kingdom.
UAE and Egypt are the top exporters. Imports represented 12% of the total demand on steel wire rods in 2022.
Exports are mainly directed to Bahrain, Kuwait, Jordan and the MENA region. The total exports represented 12% of the total sales in 2022.
Local demand witnessed a CAGR of 9% during the period from 2020 to 2023 due to the rise in industrial projects, power transmission and storage towers and infrastructure projects. This growth led to a CAGR of 12% in local sales and exports, a CAGR of 12% in local production and utilization rate was 69% in 2023. Despite this significant increase, the CAGR of the imports exceeded 6% due to the huge projects that required heavy steel sections that are not available locally. Steel sections are classified into three sizes: light (less than 80 mm), medium (from 80 mm to 200 mm) and heavy (greater than 200 mm). The following chart demonstrates their distribution in the market in 2023:
Local demand according to size - 2023
For product classification, beams were the most demanded product representing 50% of the demand in the steel sections market. The following chart demonstrates the product distribution in the local market in 2023: