PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2010/09/07 - Steel import in the UAE is expected to double by 2013, as many huge construction projects would become functional during the period, says RNCOS in its latest report.
According to our research report “UAE Steel Industry Analysis” steel import in the UAE is projected to get double by 2013 on the back on rising construction activities and commencement of infrastructure development projects. A large number of global steel players are showing interest to raise exports to the UAE, in view of strong demand and abolition of tariff on steel. Besides, the UAE enjoys certain advantages such as its geographical location (equidistant from Europe, Africa, and Asian countries), cheap and reliable energy/gas resources, and a relatively cheaper availability of labor that contributes towards making the country an attractive steel market.
Our research has found that, regardless of the industry grinding to a halt amid the recession period, the UAE still accounts for more than half of almost all GCC construction projects. Moreover, the country had US$ 714.9 Billion of infrastructure and construction schemes active in 2009. Furthermore, construction projects in the UAE are expected to see an enormous cash-flow in the coming years. The industry may soon witness growth in construction work as cost of materials and labor has been declining for the past few months. It is expected that the steel demand will swell due to speedy recovery in economy.
Our team of experts has also found that production of steel will increase in the years to come, as many companies have started increasing their capacity to meet the domestic demand. Companies including Emirates Steel, Hamriyah Steel, and BRC Arabia have started increasing their output as demand for steel is increasing in the UAE. On the back of these developments, it is projected that steel production will grow at a CAGR of around 26% during 2011-2013.
“UAE Steel Industry Analysis” provides an overview of the UAE steel industry with the analysis of recent trends in industries e.g. construction, tourism, and manufacturing. We have analyzed each and every factor responsible for providing momentum to the steel industry. The report analyzes production, consumption, trade, and major players in the steel industry. The report provides complete picture of the UAE’s steel industry to help our clients making prudent investment decision.
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.