NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/08/29 - Saudi Arabia’s steel consumption is projected to grow at a CAGR of 10.5% during 2010-2013, says RNCOS in its latest research report.
According to our research report,“Saudi Arabia Steel Industry Forecast to 2013”, the Kingdom of Saudi Arabia has become one of the most attractive destinations for the global crude steel producers due to rising steel demand and booming construction sector. There are several reasons that prompt investors to capture the market includes its geographical location that makes it equidistant from Africa, Europe, and the Asian countries; cheaper availability of labor compared to Europe and America; and cheap & reliable energy & gas resources. In addition, the country has been showing positive macroeconomic indicators and sustainable growth over the past few years, which have led to the establishment of the Kingdom being the safest investment destination and most stable market in the Gulf Cooperation Countries (GCC) region.
As per our findings, steel consumption in the Kingdom has been continuously soaring on the back of fast growing real estate and construction industry. With multi-billion dollar projects under way and many more at the planning stage by both public and private sectors, the sector has attracted many foreign investors, who are considering establishing companies or forming joint ventures with local companies to capitalize on the opportunity to participate in these multi-billion dollar projects. Several infrastructure projects initiated during the past decade have boosted the steel demand in the country. On the back of rising demand, the country’s steel consumption is anticipated to grow at a CAGR of 10.5% during 2010-2013.
Our report,“Saudi Arabia Steel Industry Forecast to 2013”, is an outcome of extensive research and thorough analysis of the steel industry in Saudi Arabia. The report provides an insight into the steel industry’s past, present, and future scenario considering all prominent steel industry value chain determinants including production, consumption, trade, pricing, key players, etc. With immense growth potential, our report foresees huge opportunities for both existing as well as new market players. The report also studies the implications of regulatory environment on the steel industry, with focus on developments and initiatives taken by the government. Additionally, the section of steel pricing analysis updates clients about the fluctuating pricing trend in context of factors responsible for the trend.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.