Key Regional Indicators

On the regional level, the iron and steel market in the Middle East is expected to experience significant growth due to the increased demand of construction and infrastructure projects, especially in KSA. Although Covid-19 epidemic led to regression, fluctuations in the supply chain and the decreased demand on iron and steel, the market is recovering due to the high government expenditures and the growing industrial activities. The market growth is supporting the strenuous efforts to diversify the resources of economy apart from oil, expand the production capacities and establish the region as the leading global exporter of iron and steel. The regional growth is expected to be 4.5% during 2024-2030.