According to the new market research report "Middle East Rebar Market Outlook 2024”, published by Goldstein Research, the Middle East Steel Rebar Market is estimated to reach USD 11.6 billion by 2024, growing at a CAGR of 6.5% through 2024. Dubai has been seemingly continued robust construction growth. Moreover, all GCC countries except the UAE have seen their steel markets turn from net importers into net exporters.
They have become a vested part of construction and building owing to hike aliment & stress Conveyance capacity it offers to concrete matrix in the entire structure. In addition, steel’s anti-corroding properties provide longer shelf life to structure, thus resulting in greater stability. Middle East Steel Rebar Market is dominated by the Kingdom of Saudi Arabia due to the aggressive investment in infrastructure projects in the country.
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Driver and challenges of Middle East Steel rebar Market Growth:
Rate of urbanization in Middle East countries is quite high as compared to other parts of the world. A number of multibillion dollar schemes, including various metro systems, have contributed to the increase of total contract awards in the region over the past years, and these will likely stabilize to lower levels in the foreseeable future as various social infrastructure projects conclude over the next few years.
GCC based producer is facing new challenges such as lack of demand and oversupply in domestic markets as well as the removal of subsidies. The decrease in global crude oil prices caused by the emergence of shale oil in the USA has caused a major decrease in the available budgets of most governments. This has lead to both austerity programs and cutting of spending budgets and removal of energy subsidies and increase of taxation and other costs incurred by Steel Producers.
The Report is available at: https://www.goldsteinresearch.com/report/steel-rebar-market-size-middle-east
“Middle East Steel Rebar Market Outlook 2024” by Goldstein Research contains a detailed overview of the newborn screening software market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by type, application, industry verticals, material, product type or geography.
The Steel Rebar Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of facility management market report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major Key player of the Steel Rebar Market discussed in the report are:
- Star Steel International LLC.
- Emirates Rebar Limited.
- Union Iron and Steel.
- Hamriyah Steel.
- Emirates Steel.
- Rajhi Steel Industries Co. Ltd..
- Watania Steel Factory Corp..
- Al-Rashed Steel
- United Steel Industrial Co.etc.
Further, for the in-depth analysis, the report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base point Scale ) analysis, Porter’s five forces model and SWOT analysis.
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