Stainless Steel Industry in the GCC
June 2008

Introduction

GCC nations are concentrating their efforts to make their economies more broad based rather than depend only on oil and gas sectors. This will provide the much needed balance and leverage to their economies in the years to come. Therefore major investments are being explored and encouraged in growth areas such as metal sector and infrastructure development. The present study on stainless steel assumes a lot of significance in this light.

Consumption of stainless steel is an indicator of the level of industrialization and urbanization of an economy. Although consumption of stainless steel is on the rise in GCC as evidenced by the steady rise of imports, current consumption of stainless steel per capita in GCC is below similar figures for developed economies.

Even at the present consumption level, gap in demand-supply scenario highlights the growth potential for stainless steel industry in GCC region which is on a rapid economic and industrialization growth path.

This study undertaken by GOIC presents the current scenario about stainless steel industry in GCC region, issues involved, and opportunities available for further development. The study also identifies potential projects for investments in GCC region in the stainless steel sector.

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