The steel processing business in the UAE is an important part of the country's ambitious industrial diversification agenda. This market includes the processing of numerous steel types such as sheets, plates, bars, and tubes. Recent industry changes show a substantial movement toward addressing the demand for high-strength, lightweight, corrosion-resistant steel, notably for building and infrastructure projects. Notably, there is a rising emphasis on producing "green steel," which means using renewable energy sources. The Masdar-Emirates Steel Arkan pilot project exhibits this trend by demonstrating the use of renewable energy in steel production processes. The United Arab Emirates (UAE) stands out in the MENA area for its sizable steel import market, cementing its status as a key trading hub. Despite this, some nearby countries outperform the UAE in terms of local steel manufacturing capability. While the UAE controls a sizable portion of the regional steel trade, its reliance on imports for critical raw materials, particularly iron ore, poses a considerable barrier. This dependency highlights the country's sensitivity to variations in global commodities markets and supply chain disruptions. Nonetheless, the UAE is increasingly expanding its sourcing techniques, with a greater emphasis on using steel waste in the domestic market. This transition provides some alleviation by lowering reliance on imported raw materials and encouraging sustainability activities. According to the research report “ UAE Steel Processing Market Research Report, 2029," published by Actual Market Research, the UAE Steel Processing software market is growing at a CAGR of 3% from 2024 to 2029. Cultural trends and factors have a considerable impact on the UAE's steel processing sector. The rising building sector, particularly in megacities such as Dubai, is a major driver of steel demand. Additionally, government programs targeted at infrastructural development and economic diversification help to drive market growth. These efforts foster investment in steel processing facilities and technologies, thereby driving industry innovation and efficiency. However, the UAE's steel processing business is not without obstacles. Fluctuations in global crude oil prices can have a significant impact on steel production costs because the industry relies significantly on energy-intensive processes. Furthermore, the market's reliance on imports for semi-finished steel exposes it to risks caused by worldwide market fluctuations and geopolitical conflicts. Furthermore, crude steel output and direct reduced iron (DRI) production fell in 2023, emphasising the necessity for proactive actions to strengthen domestic manufacturing capacities and boost resilience to external shocks.
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Download SampleAlloy steel is characterised by its alloying with elements like manganese, chromium, nickel, molybdenum, vanadium, silicon, and boron, among others, to enhance its mechanical properties. These additions modify its attributes such as hardness, strength, toughness, corrosion resistance, and wear resistance, making it suitable for diverse applications across industries. It finds common usage in structural components, machinery parts, automotive components, tools, and high-strength, high-wear applications. On the other hand, carbon steel primarily comprises iron and carbon, where carbon serves as the principal alloying element. Typically containing less than 2% carbon by weight, carbon steel's properties, including hardness, strength, and ductility, are influenced by the presence of carbon in its matrix. Regarding shape, steel products can be broadly categorised into flat, long, and tubular steel. These variations cater to different requirements and applications across industries. In terms of end users, steel products serve a wide range of sectors. These include construction, where steel is used in building frameworks and reinforcements, the shipping industry for shipbuilding and infrastructure, and the energy sector for infrastructure and equipment. Additionally, steel finds applications in packaging materials, consumer appliances like refrigerators and ovens, housing structures, and automotive manufacturing. Beyond these primary sectors, steel also serves various other industries, highlighting its versatility and indispensability in modern society. The government's ambitious goal of increasing local steel production capacity by more than 60% by 2030 shows a strategic shift toward self-sufficiency and economic growth. This program is a coordinated attempt to minimise reliance on imports and invigorate the local steel industry, perhaps leading to job creation and industrial development. However, obtaining such a considerable increase in capacity will involve large expenditures in infrastructure, technology, and human resources. Furthermore, the emphasis on sustainable processes demonstrates a larger commitment to environmental stewardship and reducing the carbon footprint connected with steel production. Stricter rules on emissions and waste management are expected to encourage industrial operators to adopt cleaner technology and more effective waste disposal methods. The UAE's strategic location as a vital centre for steel commerce in the MENA region provides numerous opportunities for domestic and international firms. The UAE, with its excellent geographical location and robust logistical infrastructure, is well-positioned to capitalise on the growing demand for steel across a wide range of industries. Participation in major trade shows like "Metal Expo" acts as a catalyst for increasing market exposure, creating industry relationships, and promoting knowledge exchange. These events not only highlight the talents of local steel producers, but also encourage investment and cross-border collaboration. Furthermore, the increased emphasis on green steel represents a significant opportunity for organisations that value environmentally responsible manufacturing practices. In recent industry developments, Emirates Steel's declaration of a 50% increase in production capacity in 2021 demonstrates the company's commitment to fulfilling rising market demand and establishing itself as a vital participant in the regional steel sector. However, the obstacles faced by the UAE in 2022, notably a decrease in crude steel output, underscore the sector's intrinsic instability and external variables influencing its performance. Despite these hurdles, the shift to green steel production gained traction in 2023, as demonstrated by the Masdar-Emirates Steel Arkan project. This collaborative initiative represents a strategic shift toward sustainable steel manufacture, fueled by new alliances and a shared commitment to environmental sustainability. The COVID-19 epidemic caused temporary delays in a variety of sectors, notably the steel industry, as supply chains encountered extraordinary hurdles and construction activity paused. Despite these obstacles, the UAE's steel industry is ready for revival, mirroring the expected resurgence in the building sector. Steel demand is projected to recover as global economic circumstances improve and construction projects resume. Furthermore, the UAE's substantial infrastructure development plans and strategic measures focused at economic diversification create a favourable climate for the steel industry to thrive. Although the pandemic highlighted supply chain vulnerabilities and revealed reliance on external variables, it also spurred resilience-building measures and boosted innovation in the sector.
Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Steel Processing market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Alloy steel • Carbon steel
By Shape • Flat steel • Long steel • Tubular steel By End User • Construction • Shipping • Energy • Packaging • Consumer appliances industry • Housing • Automotive • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Steel Processing industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
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