Saudi Arabia Steel Market Growth, Size, Trends, and Forecast 2025-2033

Saudi Arabia Steel Market Overview

Market Size in 2024: USD 8.7 Billion

Market Size in 2033: USD 11.8 Billion

Market Growth Rate 2025-2033: 3.40%

According to IMARC Group's latest research publication, "Saudi Arabia Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033", The Saudi Arabia steel market size was valued at USD 8.7 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 11.8 Billion by 2033, exhibiting a CAGR of 3.40% from 2025-2033.

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How AI is Reshaping the Future of Saudi Arabia Steel Market

• AI-enabled predictive maintenance is cutting downtime in Saudi steel plants by up to 35%, boosting productivity and lowering operational costs significantly.

• The Saudi government backs AI-driven smart manufacturing with $600 million in incentives, accelerating automated quality control and energy-efficient steel production.

• Leading steelmakers are using AI-powered data analytics to optimize raw material use, reducing waste by 18% and improving yield across multiple facilities.

• AI-driven robotics are enhancing safe handling and processing of heavy steel components, improving workplace safety metrics by nearly 25% in major plants.

• Real-time AI monitoring systems enable continuous performance tracking and emissions control, helping Saudi steel firms meet national sustainability targets and regulatory standards.

Saudi Arabia Steel Market Trends & Drivers:

Rapid urbanization and mega infrastructure projects under Vision 2030 are driving heavy demand for steel in Saudi Arabia. Large-scale developments like NEOM, the Red Sea Project, and Riyadh Metro are fueling needs for structural steel, rebar, and specialty alloys, supporting construction, industrial expansion, and public infrastructure. With over USD 5 trillion worth of projects underway, the steel demand spans residential, commercial, and energy sectors, making steel a cornerstone of the Kingdom’s ambitious modernization and diversification roadmap.​

Government initiatives under the National Industrial Development and Logistics Program (NIDLP) are significantly boosting local steel production by offering tax breaks, subsidies, and reduced energy costs. These incentives encourage international partnerships and domestic investments, such as the $1.5 billion Slovenian SIJ plant and $4 billion Essar Group clean steel facility. The focus on localization aims to reduce imports and build self-sufficiency while promoting the production of eco-friendly, higher-quality steel for construction, automotive, and energy industries.​

Technological advancements and sustainability trends are reshaping steel manufacturing efficiency and environmental impact in Saudi Arabia. Industry 4.0 technologies—AI, IoT sensors, automation, and predictive maintenance—are enhancing product quality and operational efficiency. Concurrently, green steel initiatives reduce carbon footprints, aligning with national climate goals. Firms like SABIC Hadeed and Mitwalli Steel lead using innovative production techniques that lower emissions and waste, meeting demand from rapid industrialization while solidifying Saudi Arabia’s position as a regional steel hub.

Saudi Arabia Steel Industry Segmentation:

The report provides a detailed analysis of the Saudi Arabia steel market share, highlighting key segments and regional contributions driving overall growth. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

The report has segmented the market into the following categories:

Analysis by Type:

• Flat Steel

• Long Steel

Analysis by Product:

• Structural Steel

• Prestressing Steel

• Bright Steel

• Welding Wire and Rod

• Iron Steel Wire

• Ropes

• Braids

Analysis by Application:

• Building and Construction

• Electrical Appliances

• Metal Products

• Automotive

• Transportation

• Mechanical Equipment

• Domestic Appliances

Regional Analysis:

• Northern and Central Region

• Western Region

• Eastern Region

• Southern Region

Competitive Landscape:

• Aasia Steel Factory Company Ltd.

• Al Ittefaq Steel Products Co.

• Al Sadd Steel Industrial Company

• Al-Gaswa Steel Industries Co.

• Al-Rajhi Steel

• Modern Factory for Steel Industries Co. Ltd.

• Shaaban Steel

• Solb Steel

• Zamil Structural Steel Company Limited

Recent News and Developments in Saudi Arabia Steel Market

• Sep 2025: Zamil Steel unveiled AI-driven automation at STATIC ARABIA 2025, boosting fabrication speed and precision while cutting operational costs by 20%.

• Aug 2025: SABIC’s Hadeed plant launched advanced metal recycling technology, reducing energy consumption by 18% and cutting carbon emissions significantly.

• Jul 2025: Saudi government expanded National Committee for Steel Industry initiatives, offering new subsidies and tax incentives to modernize steel production infrastructure.

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.

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