Saudi Arabia Steel Market: Size, Share, Emerging Trends, Current Growth Drivers & Forecast 2033

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-driven predictive maintenance is cutting equipment downtime by up to 50% in Saudi steel plants, significantly boosting productivity and reducing costly repairs and interruptions.
● Integration of AI-powered quality control using computer vision helps detect defects with high accuracy, ensuring consistent steel product standards and reducing waste.
● AI analytics optimize supply chains for steel manufacturing by forecasting demand and managing inventory, enhancing efficiency and lowering operational costs across production cycles.
● Government-backed AI programs under Vision 2030 support smart manufacturing ecosystems, encouraging adoption of AI in steel fabrication to improve resource use and competitiveness.
● Leading steel producers like Zamil Steel are investing in AI-powered automation and robotics, driving precision in fabrication processes and accelerating industrial modernization.

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Saudi Arabia Steel Market Trends & Drivers:

● Saudi Arabia's steel market is thriving thanks to ambitious infrastructure projects like NEOM and Riyadh Metro that require massive steel supplies for construction. The government's Vision 2030 initiative heavily supports these projects by boosting urban development and industrial growth, creating a steady demand for high-quality steel products. With increasing investments in housing, commercial buildings, and transport infrastructure, steel is becoming essential in transforming the urban landscape and sustaining economic diversification beyond oil.

● Government programs such as the National Industrial Development and Logistics Program (NIDLP) offer subsidies, tax breaks, and energy cost reductions to local steel manufacturers, encouraging domestic production. This support reduces dependency on imports and helps companies like Zamil Steel and Mitwalli expand capacity and improve product quality. Collaborations with international partners, such as Attieh Steel's alliance with ArcelorMittal, further advance technology transfer and steel innovation, strengthening Saudi Arabia's competitiveness in the global steel industry.

● Technological innovation is reshaping steel production with smart manufacturing techniques including AI, IoT, and automation enhancing operational efficiency and product precision. Sustainability is also a rising focus, with green steel products and recycling initiatives gaining traction, helping cut emissions and meet environmental goals. Leading firms like SABIC's Hadeed are investing heavily in cutting-edge recycling technology and energy-efficient processes, supporting the country's ambition to produce eco-friendly steel products tailored for the construction, automotive, and energy sectors.

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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

● Sep 2025: Zamil Steel unveiled AI-driven automation at STATIC ARABIA 2025, boosting fabrication speed and precision while cutting operational costs by 20%.
● Aug 2025: SABIC's Hadeed plant launched advanced metal recycling technology, reducing energy consumption by 18% and cutting carbon emissions significantly.
● Jul 2025: Saudi government expanded National Committee for Steel Industry initiatives, offering new subsidies and tax incentives to modernize steel production infrastructure.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

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