GCC Steel Market Size to Hit USD 5.12 Billion by 2033 | CAGR of 4.10%

GCC Steel Market Overview

Market Size in 2024: USD 3.50 Billion

Market Size in 2033: USD 5.12 Billion

Market Growth Rate 2025-2033: 4.10%

According to IMARC Group's latest research publication, "GCC Steel Market Size, Share, Trends and Forecast by Components, Material Used, End User, and Region, 2025-2033," The GCC steel market size reached USD 3.50 Billion in 2024. The market is projected to reach USD 5.12 Billion by 2033, exhibiting a growth rate (CAGR) of 4.10% during 2025-2033.

How AI is Reshaping the Future of GCC Steel Market

● AI-powered predictive maintenance is slashing downtime in GCC steel plants, increasing overall equipment efficiency and cutting repair costs by up to 20%.

● Smart factories use real-time data and machine learning for quality checks, reducing defects and ensuring buyers consistently get top-grade steel products.

● National government support, such as digitalization funds and smart manufacturing schemes, accelerates AI adoption across the GCC steel sector.

● Automation and intelligent process optimization allow companies to save more than 5% on raw input costs while boosting production yields by 15%.

● Leading GCC steelmakers use AI to optimize supply chains, predicting demand accurately and ensuring just-in-time delivery for mega construction projects.

Grab a sample PDF of this report: https://www.imarcgroup.com/gcc-steel-market/requestsample

GCC Steel Market Trends & Drivers:

The GCC steel market is really riding a wave of infrastructure and construction projects, which are fueling high demand for everything from rebar to structural steel. With ground-breaking developments like Saudi Arabia's NEOM city and smart infrastructure initiatives in the UAE, steel finds itself at the heart of these mega-projects. Residential, commercial complexes, and sprawling transportation networks all require massive volumes, pushing up orders for steel beams, rods, and sheets. This construction boom is also a response to rapid urbanization and economic diversification across the region, with industry insiders pointing to a rising appetite for both long and flat steel, thanks to manufacturing and industrial expansion too.

Government action and supportive policies are unlocking fresh investment and modernizing the steel sector. Initiatives like Production Linked Incentive (PLI) schemes are not only encouraging companies to ramp up specialty steel production, but also attracting billions in fresh capital and creating thousands of new jobs. For instance, one round of the PLI scheme in India alone drew in over ₹18,000 crore ($2.1 billion) and led to over 8,600 new employment opportunities. In the GCC, governments are directly backing mega industrial zones and infrastructure projects, while also pushing policies that shield local producers from cheap imports. This government push helps ensure the region's steelmakers remain competitive and resilient, whatever global headwinds may come their way.

Sustainability and green steel production have become a standout trend, as GCC countries step up their decarbonization ambitions. Local steel manufacturers are ramping up investments in green technology-think electric arc furnaces that run on recycled, and ambitious plans for hydrogen-based production. These efforts aren't just box-ticking for global standards; they help shrink costs, curb emissions, and make GCC steel more appealing to environmentally conscious buyers. On top of that, digitalization-like smart manufacturing and AI-driven quality control-boosts efficiency and product consistency. As buyers and regulators demand greener, smarter materials, the GCC steel market is becoming more sustainable and future-proof, offering advanced, low-carbon solutions for the region and beyond.

GCC Steel Market Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

● Flat Steel
● Long Steel

Product Insights:

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

Application Insights:

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

Country Insights:

Saudi Arabia
UAE
Qatar
Bahrain
Kuwait
Oman

Ask analyst of customized report: https://www.imarcgroup.com/request?type=report&id=9909&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in GCC Steel Market

● July 2025: GCC countries recorded a 6.3% jump in crude steel production, hitting 3.337 million tons for the month. This boost is driven by the surge in mega construction projects and expanded manufacturing activity, further strengthening the region's presence in global steel output.

● June 2025: Saudi Arabia's Essar Group launched a new 4 million tonnes per year direct reduced iron and electric arc furnace hot strip mill at Ras al-Khair. This project leverages advanced EAF and automation technologies to deliver high-quality flat steel and enhance supply chain security in the GCC.

● February 2025: AI-driven innovation is transforming the GCC's steel sector, with the refractory materials market set to grow by $30.2 million. Automated quality control and smart manufacturing are helping reduce defects, cut costs, and meet rising construction demand across the region.

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.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St., Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-201971-6302

This release was published on openPR.