22 May 2013
Saudi Arabia’s steel consumption will see double-digit growth over the next five years fuelled by demand from infrastructure projects and growing investment in real estate, a new study predicts.
The Saudi Arabia Steel Industry Forecast 2017 report by research firm RNCOS estimates that the sector will grow at a compound rate of 11.7% between 2013-17.
It says contributing factors are growing investment in railway, infrastructure and road projects, and cheap and reliable energy supplies.
The analysts found that the Kingdom is also heavily reliant on imports, which are already responsible for more than 50% of the amount of steel used.