Saudi Arabia Structural Steel Market Size Likely to Reach at a CAGR of 6.5% By 2034

Saudi Arabia Structural Steel Market Size

As per the Saudi Arabia Structural Steel Market size analysis conducted by the CMI Team, the Saudi Arabia Structural Steel Market is expected to record a CAGR of 6.5% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 7.1 Billion. By 2034, the valuation is anticipated to reach USD 12.5 Billion.

Saudi Arabia Structural Steel Market Overview

As per the industry experts at CMI, growth opportunities in the structural steel sector are the Saudi Arabian Vision 2030 and government plans related to it. The focus of the Kingdom on infrastructure development, urbanization, and economic diversification is increasing the demand for steel products in large-scale construction, industrial projects, and residential developments throughout the country.

Saudi Arabia Structural Steel Market Growth Factors and Dynamics

• Government Initiatives and Vision 2030: Saudi Arabia’s Vision 2030 holds remarkable importance in the structural steel market. The initiative aims mainly at diversifying economies with huge investments made in infrastructure, urban development, and the industrial sectors. Steel product demand is driven by government projects like NEOM, Qiddiya, and the Red Sea Development. Considering that these major projects combine with urbanization and housing projects, this will keep structural steel products such as beams, columns, and reinforcement bars in steady demand, thus further creating strong opportunities for market growth.

• Rising Demand from the Construction Sector: The steel market finds itself being buoyed foremost by an expanding construction industry in Saudi Arabia, which is driven by urban population growth and infrastructure development. The demand for buildings for residential, commercial, or industrial purposes (concomitant to large infrastructure projects such as airports and bridges) ensures steady requirements for steel products. The market trend toward sustainability entails increasing acceptance of high-strength steel materials and hence boosts market growth.

• Economic Diversification and Industrial Growth: This progressive drift towards economic diversification, highlighted by manifolds that include the National Industrial Development and Logistics Program (NIDLP), has had an equally dramatic increase in the volume of industrial activities in Saudi Arabia. There has been a consistently growing appetite for steel products in factories, warehouses, and energy infrastructure, spurred on by the emergence of new industrial sectors like manufacturing and renewable energy.

• Fluctuating Raw Material Prices: The fluctuations in prices are primarily responsible for dynamic changes in the steel structure. It is because the raw materials, especially steel scrap and iron ore, have many changes in their prices, due to which production costs become unstable, thereby affecting the field of finished steel products. This situation challenges manufacturers’ cost-effective measures to have the finished products, compelling many to deploy measures like strategic procurements and innovations.

• Technological Developments in Steel Production: The market in Saudi Arabia has been shaped by advancements in technology concerning steel production. Modern steelmaking techniques would include those of the electric arc furnaces and the further advanced techniques of fabrication, which would improve the quality and efficiency of production. Increased use of green steel technologies is further driving the need for more environmentally sustainable solutions toward steel, aligned with the trends worldwide in sustainability. It gives Saudi Manufacturers more opportunities to enhance productivity at this time.

• Trade Policies and Tariffs: International trade policy tariffs play a larger part in the Saudi Arabian structural steel market. Tariff duties on products imported from key trade partners, specifically the U.S. and Europe, have negatively impacted the global structural competitiveness of Saudi steel products. In turn, such policies will lead to fewer export opportunities coupled with higher raw material costs, thus expecting Saudi companies to take the way of increasing local production by focusing on diversification with trade partners.

Report Scope

Saudi Arabia Structural Steel Market SWOT Analysis

• Strengths: In Saudi Arabia, the structural steel market has gained from ongoing construction projects falling under the Vision 2030 program-neom and the Red Sea development projects-which keep demand for its steel products constant. The Kingdom has well-established steel manufacturing firms such as Zamil Structural Steel and Al Ittefaq Steel that ensure a stable supply of high-quality products. With the government encouraging economic diversification, urbanization, housing, and commercial development are a prime focus, contributing to the growth of the steel market. Furthermore, Saudi Arabia’s strategic location within the GCC makes it a leading player in regional steel trade.

• Weaknesses: The market is also challenged by the fluctuating prices of raw materials such as iron ore and scrap steel, which may alter production costs and inhibit pricing stability. Heavy reliance on imported raw materials for steel production exposes local manufacturers to supply chain risk. Even with the establishment of the localization drive, dependency on foreign suppliers for specialized steel products could hinder some aspects of market competitiveness.

• Opportunities: Continuous infrastructure projects under Vision 2030 are providing huge, viable opportunities for the steel market. Along with that, new demands for specialized steel items are being created by the emerging industrial sectors like renewable energy and manufacturing. Further, opportunities arise for manufacturers to innovate and capture growing eco-conscious markets with advancements in green steel production and increasing environmental regulations. The country is gradually moving towards more local production and fewer imports, which is an opportunity for companies to increase their market share.

• Threats: The Saudi structural steel market is very prone to fluctuations in the global steel price, which affects their production costs. Trade policies and tariffs posed by global markets, particularly the U.S. and Europe, create issue-based uncertainty for Saudi exporters. These external circumstances can affect the presence that Saudi Arabia is trying to establish in the global market. In addition to that, competition from the other steel-producing countries that come under the GCC, like the UAE and Qatar, puts pressure on local manufacturers to innovate and be fairly priced as well.

List of the prominent players in the Saudi Arabia Structural Steel Market:

• Attieh Steel
• Zamil Structural Steel Co. Ltd.
• Al Ittefaq Steel Products Co. (ISPC)
• Gulf Specialized Works
• Station Contracting Ltd.
• Absal Steel
• SABIC
• Arabian Construction Company (ACC)
• Al-Rashed Steel
• Al-Tuwairqi Group
• Beshay Steel
• Saudi Iron and Steel Company (Hadeed)
• Apex Steel
• Al Khobar Steel
• Doha Steel
• Severfield
• ArcelorMittal
• Essar Steel
• POSCO
• JFE Steel Corporation
• Others

The Saudi Arabia Structural Steel Market is segmented as follows:

By Product Type

• H-Type Beams
• I-Type Beams
• Columns
• Angles

By End-User Industry

• Residential
• Commercial
• Industrial
• Institutional