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The
Market
Middle
East's demand for steel fabrication at a peak
Prospects
for the Middle East's steel fabrication industry have never
looked better. With infrastructure and industrial development
placed high on the agenda of the region's respective
governments, complemented by stabilised oil prices, spending
on new infrastructure, construction, industrial and oil and
gas projects in the respective GCC countries are at an all
time high. With this steady flow of new projects (see table),
fabrication yards have been kept busy at full capacity, trying
to meet a constantly increasing market demand for fabricated
steel, currently estimated at 750,000 tonnes in the region.
This increased activity has in turn led to a surge in demand
for machinery, equipment and consumables needed by steel
fabricators, making the region one of the fastest growing and
lucrative markets for suppliers to the steel fabrication
industry.
| Projects
currently underway in the Middle East |
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In
the UAE, numerous infrastructure projects, large
construction projects and Oil & Gas downstream
initiatives are on the anvil;
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In
Qatar, ongoing construction for the Asian Games, and
continuing offshore gas development have put pressure
on not only on the capabilities of Qatar's fabrication
facilities but even the neighboring countries who are
benefiting from the overflow;
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Marine
& Offshore construction in Iran; |
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The
massive rebuilding of Iraq; |
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Infrastructure,
construction and oil & gas projects in Saudi
Arabia.
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An
opportune time to break in...
At
the same time, the worldwide shortage in steel and cut in
steel quota for the Middle East has made it imperative for
steel fabricators to increase their competitiveness and
efficiency. This is thus an opportune time to break in, when
fabricators are keen to explore new alternative products and
technologies and try out new suppliers. |
