Saudi Arabia Steel Market Size to Surpass USD 11.8 Billion by 2033: Key Trends, Share & Outlook

Saudi Arabia Steel Market Overview

Market Size in 2024: USD 8.7 Billion
Market Size in 2033: USD 11.8 Billion
Market Growth Rate 2025-2033: 3.40%

According to IMARC Group's latest research publication, "Saudi Arabia Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033", The Saudi Arabia steel market size was valued at USD 8.7 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 11.8 Billion by 2033, exhibiting a CAGR of 3.40% from 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Steel Market

● AI-powered predictive maintenance systems in steel manufacturing plants are reducing equipment downtime by up to 25% through real-time monitoring of furnaces, rolling mills, and production machinery across Saudi steel facilities.
● Industry 4.0 initiatives under Vision 2030 are driving automation in steel production processes, with smart sensors and machine learning algorithms optimizing energy consumption and raw material usage in major steel plants throughout the Kingdom.
● AI-enabled quality control systems utilize computer vision and machine learning to detect steel defects and inconsistencies during production, improving product quality standards and reducing waste by 15-20% in Saudi manufacturing facilities.
● Digital twin technologies and IoT integration are revolutionizing steel plant operations, enabling real-time production optimization, inventory management, and supply chain coordination across Saudi Arabia's expanding steel infrastructure.
● Strategic partnerships between Saudi steel manufacturers and global technology providers focus on implementing AI-driven solutions for autonomous steel production, creating advanced manufacturing capabilities while supporting the Kingdom's industrial transformation goals.

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Saudi Arabia Steel Market Trends & Drivers:

● Saudi Arabia's steel market is booming thanks to massive infrastructure projects driven by Vision 2030. Mega-developments like NEOM and the Riyadh Metro demand huge amounts of steel for construction, from structural beams to rebar. For instance, NEOM alone is using about 20% of global steel supply for its futuristic city projects, including The Line. Government investments exceeding $1 trillion in non-oil sectors, like transportation and utilities, are fueling this demand. These projects not only transform the skyline but also create jobs, making steel a backbone of the Kingdom's economic diversification.

● The oil and gas sector keeps Saudi Arabia's steel market humming, as it's the world's top oil exporter. Specialized steel grades are critical for pipelines, offshore rigs, and refineries that need to withstand harsh conditions. Saudi Aramco's ongoing expansion in refining and petrochemicals drives significant steel consumption, with companies like SABIC producing hot-rolled coils and galvanized sheets in Jubail. The push for water management, like desalination projects, also boosts demand for corrosion-resistant stainless steel. This sector's growth ensures a steady need for high-quality steel, supporting both local manufacturers and global partnerships.

● Sustainability is a rising trend shaping the steel market, with Saudi Arabia focusing on eco-friendly practices. The government's clean energy initiatives, like the world's largest green hydrogen facility with NEOM and ACWA Power, require structural steel with high recycled content-93% recyclable, per industry standards. Companies like Zamil Steel are adopting advanced software for efficient fabrication, reducing waste. Urbanization and population growth, especially in cities like Riyadh, further drive demand for sustainable steel in residential and commercial projects, aligning with global green construction trends and Vision 2030's environmental goals.

Saudi Arabia Steel Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Type:

● Flat Steel
● Long Steel

Analysis by Product:

● Structural Steel
● Prestressing Steel
● Bright Steel
● Welding Wire and Rod
● Iron Steel Wire
● Ropes
● Braids

Analysis by Application:

● Building and Construction
● Electrical Appliances
● Metal Products
● Automotive
● Transportation
● Mechanical Equipment
● Domestic Appliances

Regional Analysis:

● Northern and Central Region
● Western Region
● Eastern Region
● Southern Region

Competitive Landscape:

● Aasia Steel Factory Company Ltd.
● Al Ittefaq Steel Products Co.
● Al Sadd Steel Industrial Company
● Al-Gaswa Steel Industries Co.
● Al-Rajhi Steel
● Modern Factory for Steel Industries Co. Ltd.
● Shaaban Steel
● Solb Steel
● Zamil Structural Steel Company Limited

Recent News and Developments in Saudi Arabia Steel Market

● August 2025: SABIC Hadeed launches advanced green steel production line, reducing carbon emissions by 30%, aligning with Saudi Arabia's sustainability and Vision 2030 goals.
● July 2025: Saudi Arabia approves $4 billion clean steel plant project, focused on zero-carbon technologies, expected to transform the industry's environmental footprint.
● June 2025: Local steel tariffs increased by 15%, boosting domestic production and incentivizing investments in innovation and capacity expansion across the Kingdom.

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