The Middle East steel market is forecast to grow from USD 44 billion in 2026 to USD 60 billion by 2031, according to analysis by Fastmarkets.
The outlook rests on nearly USD 2 trillion in infrastructure and industrial projects across the region, which are driving steel demand in construction and manufacturing. Large-scale public infrastructure spending and expanding industrial activity are the main supports for the sector, which is increasingly viewed as one of the world’s fastest-growing steel markets.
The projection was published ahead of a gathering of leading steel executives in Dubai, where regional investment and development plans are expected to take centre stage. As governments continue to advance major infrastructure programmes, the Middle East is strengthening its position as an important destination for global steel producers.
Gulf Economist Staff Writer