Saudi Arabia Galvanized Steel Market (2024-2030) | Forecast, Trends, Value, Share, Companies, Outlook, Analysis, Revenue, Industry, Size & Growth

Saudi Arabia Galvanized Steel Market Synopsis

The Saudi Arabia galvanized steel market is anticipated to grow at a CAGR of 7.1% during the forecast period 2020-2026. The growth in the market can be attributed to factors such as increasing demand for galvanized steel in automotive industry, growing construction and infrastructure activities, rising investments in oil & gas sector and growing population leading to an increased demand for residential buildings. Governments across Saudi Arabia are promoting sustainable development initiatives which are expected to further fuel the growth of construction activities thereby augmenting the demand for galvanized steels over upcoming years.

Market Drivers

Galvanizing is one of the most common techniques used by automotive industries due to its long lasting performance even when exposed to harsh environmental conditions, improving corrosion resistance and superior formability properties, resulting into better auto parts life cycle cost. Hence, this factor is expected to drive domestic demand for galvanized steels during forecasted period 2020-2026. Government policies like Vision 2030 aims towards developing modern airports not only within but also around Kingdom with focus on investing more than USD 300 billion on civil aviation projects over next 10 years which would result into huge opportunities for steel manufacturers and suppliers operating in country??s industrial sector thus driving overall growth of galvanized steel market during forecasted timeframe 2020-2026. The government has made significant investments towards diversifying nation??s economy away from oil dependency along with creating job opportunities particularly targeting youth community across country through plans like National Transformation Program (NTP). These planned investment will provide new business opportunities across regional manufacturing & fabrication sectors resulting into higher utilization rates among local producers including that of raw materials like iron ore or slabs required by companies producing value added products such as hot dip galvanized steels thus aiding uptrend seen in near future across GCC countries highly dependent upon hydrocarbon revenues including that generated from largest producer i.e., Saudi Arabia Oil Co (SAOC).

Challenges of the Market

High cost of galvanized steel products due to the high import tariffs imposed by Saudi Arabia on imported steel products. Difficulty in obtaining the required raw materials for manufacturing galvanized steels in Saudi Arabia, as most of them are imported from other countries.

Covid 19 Impact on the Market

The COVID-19 pandemic has severely disrupted world economies, including that of Saudi Arabia, causing several disruptions to its industrial activities, including those related to the production and supply of galvanized steels within the country as well as globally. This has resulted in a significant reduction or delays in production capacities and disruption of global supply chains leading to an increased demand-supply gap between buyers and sellers for these essential metals across all sectors throughout the region over 2020 and 2021 until normalcy resumes with economic recovery post-pandemic period begins around 2022 onwards depending on how soon vaccinations begin across markets worldwide reaching herd immunity levels eventually setting up grounds for full scale economic revival then onwards into 2023+ years thereafter gradually establishing business continuity back again towards pre Covid times eventually stabilizing after a few quarters following it at least by 2024+.

key players of the Market

Some key players operating within the Galvanised Steel Market landscape include ArcelorMittal SA (Luxembourg), Tata Steel Ltd (India), Nippon Steel Corporation (Japan), JFE Holdings Incorporated (Japan), Baosteel Group Corporation (China) amongst others

Key Highlights of the Report:

• Saudi Arabia Galvanized Steel Market Outlook
• Market Size of Saudi Arabia Galvanized Steel Market, 2023
• Forecast of Saudi Arabia Galvanized Steel Market, 2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Revenues & Volume for the Period 2020-2030
• Saudi Arabia Galvanized Steel Market Trend Evolution
• Saudi Arabia Galvanized Steel Market Drivers and Challenges
• Saudi Arabia Galvanized Steel Price Trends
• Saudi Arabia Galvanized Steel Porter's Five Forces
• Saudi Arabia Galvanized Steel Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Galvanized Steel Coils for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Galvanized Steel Strips for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Construction for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Automobile for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Home Appliances for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Galvanized Steel Market Revenues & Volume By Others for the Period 2020-2030
• Saudi Arabia Galvanized Steel Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Application
• Saudi Arabia Galvanized Steel Top Companies Market Share
• Saudi Arabia Galvanized Steel Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Galvanized Steel Company Profiles
• Saudi Arabia Galvanized Steel Key Strategic Recommendations

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