Steel consumption in Saudi Arabia has witnessed tremendous growth on the back of rising construction activities growing investment in railway infrastructure and road projects and cheap and reliable energy supply.
RNCOS said that in 2011, the steel consumption in the country experienced double digit growth and in future, the apparent steel consumption is expected to grow at a CAGR 19.5% during 2012 to 2015.
The research showed that long products (including rebar, bar, wire, rod, etc.) account for the major share in production as well as consumption in Saudi Arabia. In long products, rebar steel dominates the total finished steel consumption due to large number of ongoing infrastructure and construction projects in the country. The report covers a detailed analysis of rebar production and consumption in Saudi Arabia. It also covers information on long products, flat products and tubular products' production and consumption details.
In addition Turkey dominated in terms of iron and steel import from the kingdom, while China leads in exports of articles of iron and steel in 2010. Saudi Arabia has become one of the largest steel consumers in the GCC region owing to rising steel demand