KSA sees steel consumption jump 19.5%
Saudi Arabia’s steel consumption has grown on the back of increased construction and investment
Saudi Arabia’s steel consumption has grown on the back of rising construction activity and increased investment in government projects.
Market research firm, RNCOS has said steel consumption in Saudi Arabia has seen significant growth due to rising construction activities, growing investment in railway, infrastructure and road projects, and cheap and reliable energy supply.
The “KSA Steel Industry Forecast 2015” report said last year’s steel consumption saw double-digit growth, and the future steel consumption is expected to grow at a CAGR 19.5% during 2012-2015.
Long products such as rebar, bar, wire, and rod, account for the biggest share in production as well as consumption in Saudi Arabia, with rebar steel dominating the total finished steel consumption, due to a large number of ongoing infrastructure and construction projects in the country, the study said.
