Saudi Arabia Steel Market Size to Hit USD 11.8 Billion by 2033, With CAGR of 3.40%

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.

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How AI is Reshaping the Future of Saudi Arabia Steel Market

● AI-driven predictive maintenance in Saudi steel plants reduces unexpected downtime by identifying equipment issues early, boosting operational efficiency and cutting maintenance costs.

● Smart manufacturing programs supported by the National Industrial Development and Logistics Program (NIDLP) integrate AI for real-time quality control and automated process optimization.

● Companies like AIC Steel leverage AI and digital twins for precise production management, enabling localization of military-grade steel components supporting Vision 2030 goals.

● AI-powered supply chain analytics optimize raw material procurement and inventory management, minimizing waste and driving cost efficiency in Saudi Arabia's steel sector.

● Government-backed initiatives are transforming 4,000 factories with AI, IoT, and automation, enhancing productivity and positioning Saudi Arabia as a regional hub for smart steel manufacturing.

Saudi Arabia Steel Market Trends & Drivers:

● One of the biggest things pushing the Saudi steel market forward right now is the massive amount of infrastructure projects coming in through the Vision 2030 program. With mega projects such as NEOM and the Riyadh Metro using up steel like there's no tomorrow, new jobs and local production are being created. The government's National Industrial Development and Logistics Program spent heavily on this sector, with around USD 30 billion in the construction space. Steel made up 40 percent of the materials used. Officials last month announced SR60 billion ($16 billion) in fresh investment opportunities in the steel space as international players launched new ventures and capacity soared. However, these projects go beyond the physical and economic, they also reform the kingdom as a whole with steel.

● Particularly, urbanization is fueling demand for steel. As Saudi Arabia's cities grow larger, people from rural areas move to cities for a better life, thereby increasing the population. As the population increases in each city, the demand for housing and commercial buildings increases. At over USD 5.4 billion, the rebar steel market is already a booming one, and is further kept in high demand by government-supported construction like subsidized housing, which requires affordable housing fitted with good steel reinforcements. The wave of new construction in Riyadh and Jeddah generates thousands of tons of rebar for every new unit of housing as builders brace for hot desert weather. It's a win-win for steelmakers who can lock in steady and profitable growth as people shift around.

● More chic versions of sustainable living are on the way too. Saudi steel-making's future appears to be in green construction and recycling metals. (A new national discard metal importing house is due to launch in October, giving the industry sustainable inputs and reducing its need for raw ore, all backed by the SR60 billion investment pool). Others are getting involved too: Fastmarkets launched an online steel billet pricing tool in September to ease trading and increase price transparency, and mills are deploying smart technology to cut emissions. This has business applications, such as in energy-efficient building, offshore windfarms and other renewable energy infrastructure projects. It's smart business, that's aligning profit with planet and attracting international partners who value cleaner supply chains.

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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

October 2025: Saudi Arabia's AIC Steel unveiled AI-driven digital twin technology to enhance production precision and reduce material waste in manufacturing processes.
October 2025: The National Industrial Development and Logistics Program announced a $1.5 billion investment boost to localize steel manufacturing and integrate smart factory automation systems.
September 2025: SABIC Hadeed launched a green steel initiative utilizing natural gas-based reduction tech, cutting carbon emissions by nearly 50% compared to traditional methods.

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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