GCC Steel Market Size to Reach USD 5.12 Billion by 2033 | With a 4.10% CAGR

GCC Steel Market Overview

Market Size in 2024: USD 3.50 Billion

Market Size in 2033: USD 5.12 Billion

Market Growth Rate 2025-2033: 4.10%

According to IMARC Group’s latest research publication, “GCC Steel Market Size, Share, Trends and Forecast by Components, Material Used, End User, and Region, 2025-2033," 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

• Optimizing Production and Predictive Maintenance: AI-driven predictive analytics in GCC steel mills forecast equipment failures, reducing downtime by up to 20% in facilities like those of Emirates Steel Arkan, while smart sensors monitor furnace conditions for energy-efficient melting aligned with regional sustainability goals.
• Enhancing Quality Control and Defect Detection: Machine vision systems powered by AI inspect steel surfaces in real-time during rolling and fabrication, minimizing defects and scrap rates, as adopted by Saudi producers supporting NEOM's precision requirements.
• Streamlining Supply Chain and Demand Forecasting: AI algorithms analyze global commodity trends and local megaproject timelines to optimize inventory and logistics, helping UAE and Saudi fabricators manage volatile scrap imports and billet supplies amid Vision 2030 expansions.
• Driving Green Steel Initiatives: AI models simulate low-carbon processes like hydrogen-DRI integration, accelerating pilots in Abu Dhabi and Bahrain, where data-driven optimizations cut emissions while scaling production for renewable energy infrastructure.

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How Vision 2030 is Transforming GCC Steel Market

Saudi Arabia's Vision 2030 is spearheading the GCC steel market transformation through massive infrastructure investments in giga-projects like NEOM, Qiddiya, and the Red Sea Development, which demand vast quantities of structural and specialized steel, while promoting localization via new DRI-EAF facilities and green hydrogen pilots to reduce import reliance and align with diversification goals, influencing UAE's Operation 300bn expansions at Emirates Steel Arkan and Qatar's post-World Cup builds to foster regional supply chain resilience, sustainable manufacturing, and Industry 4.0 adoption for a low-carbon future.

GCC Steel Market Trends & Drivers:

The GCC steel market is booming due to unprecedented megaprojects, urbanization national visions, the NEOM in Saudi Arabia, and the urban master plans in the UAE that are driving the demand of structural beams, rebar, and plates in high-rises, rail networks such as the GCC Railway, and renewable energy frames. Switching to electric arc furnaces and DRI technologies contributes to the localization strategy, making importation less important, and prefabrication and modular construction help to shorten the timeframes of commercial complexes and airports. Digital twins, chain monitoring, and robotization in mills can make the mills more efficient, which puts the production facilities such as Al Yamamah and Zamil Steel in a better place to meet the rising demands of tourism centers and industrial zones.

The need of sustainability and economic diversification are critical factors because green steel pilot projects in Oman and Bahrain that use hydrogen are congruent with the net-zero goals, which are associated with the European collaboration and a high price of low-carbon products required to supply solar farms and desalination facilities. Training in high-tech fabrication is a strength of localizing the workforce during population growth of over 55 million people and bilateral agreements such as Qatar-Bahrain supply agreements strengthen intra-GCC chains. Saudi Arabia and UAE automotive and defense industries are projected to grow, and they are also required to use alloy of high performance and the regulatory requirements to use recycled content and integrate BIM to strike the right balance between fast scaling and the environment legal protection.

Access the Latest 2026 Data & Forecasts: https://www.imarcgroup.com/checkout?id=9909&method=940

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 awarded large-scale steel supply contracts for NEOM, The Line, and Red Sea megaprojects, significantly boosting demand for structural steel and rebar across the Kingdom.
• March 2025: Emirates Steel Arkan announced a multi-million-dollar capacity expansion focused on low-carbon steel production, aligning with GCC sustainability and industrial decarbonization goals.
• June 2025: Qatar launched major tenders for steel products to support new infrastructure, logistics, and industrial zone developments, driving increased regional procurement of long and flat steel.
• September 2025: Oman expanded its manufacturing base with a new steel rolling and processing facility, aiming to increase domestic production and reduce import dependency for construction-grade steel.
• November 2025: GCC-wide construction momentum, driven by mega-projects and housing programs, resulted in record-high steel demand, prompting mills to secure long-term contracts with contractors and government agencies.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

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