The size of the global iron and steel market is projected to reach $ 1883880 million by 2026, which was projected at $ 1587710 million for 2020, with a definite growth of more than 2.9% during the years 2021-2026. Will continue. In this direction, many countries have put the scenario of increasing crude steel production on their agenda. In this regard, reports show that the increase in crude steel production of GCC countries during the first 5 months of this year has been growing regularly.
*** Growth of crude steel production in the Persian Gulf
Steel production of the GCC countries increased despite the summer season and the usual decline in steel consumption. This increase in production has been recorded both monthly and annually. This growth of steel is explained in the medium and long term perspectives of the countries in this field, which we will discuss below. Despite the growth of crude steel production in all countries of the Persian Gulf, Qatar has a different trend than the rest. Qatar is still unable to reverse the negative trend in consumption, which undermines the overall results of the region. It should be noted that due to the approaching time of the 2022 World Cup in Qatar, most of the infrastructure projects, including the construction of stadiums, hotels and recreation centers, have passed the civil operations phase and entered the final phase of equipment and delivery, which This in turn reduces the consumption of Qatari steel.
*** Changing Saudi economic behavior
Saudi Arabia’s economy has relied primarily on the oil and gas industry to generate wealth. However, the government began economic diversification after the fall in oil prices in 2014. As a result, the country has invested in alternative sources of income by introducing infrastructure projects, such as Vision 2030, and developing urban life. One of the alternative sources of income for Saudi Arabia is the production of crude steel. Although the industry needs water resources, the country intends to take significant steps in the production and sometimes processing of crude steel.
*** Prefabricated houses, the growth of Persian Gulf crude steel
The shortage of affordable housing has increased in Saudi Arabia due to the growing population and the growing influx of immigrants. This has led Saudi Arabia to build prefabricated houses to respond quickly to the needs of its people. These buildings use significant amounts of steel. These buildings have attracted the attention of environmentalists. Because their waste is very low. The Saudi government has decided to use its domestic steel to reduce the cost of these prefabricated jars. This has increased the incentive to produce crude steel in this country.
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