Middle East & Africa Steel Market Size & Outlook, 2024-2030
The steel market in Middle East & Africa is expected to reach a projected revenue of US$ 120,147.9 million by 2030. A compound annual growth rate of 3.5% is expected of Middle East & Africa steel market from 2024 to 2030.
Revenue, 2024 (US$M)
$94,582.7
Forecast, 2030 (US$M)
$120,147.9
CAGR, 2025 - 2030
3.5%
Report Coverage
Middle East & Africa
Global Market
Related Markets
MEA steel market highlights
- The MEA steel market generated a revenue of USD 94,582.7 million in 2023.
- The market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
- In terms of segment, building & construction was the largest revenue generating end use in 2023.
- Consumer Goods is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, Iran is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 94,582.7 million |
| Market revenue in 2030 | USD 120,147.9 million |
| Growth rate | 3.5% (CAGR from 2024 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Consumer Goods |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & Construction, Automotive & Transportation, Heavy Industry, Consumer Goods |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.3% of the global steel market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 120,147.9 million by 2030.
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Publish Date: Jan 16, 2025
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Steel Market Scope
Steel Market segmentation & scope
Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Nucor Corp | View profile | 32,000 | 1915 Rexford Road, Charlotte, NC, United States, 28211 | www.nucor.com |
| Nippon Steel Corp | View profile | 121,990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | www.nipponsteel.com |
| Thyssenkrupp AG | View profile | 100,202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | www.thyssenkrupp.com |
| Outokumpu Oyj Class A | View profile | 8,776 | Salmisaarenranta 11, Helsinki, Finland, FI-00180 | www.outokumpu.com |
| BAOSTEEL | View profile | 10001+ | Shanghai, Shanghai, China, Asia | www.baosteel.com/group_en/ |
| Emirates Steel | View profile | 1001-5000 | Musaffah, Abu Dhabi, United Arab Emirates, Asia | www.emiratessteel.com/ |
| ArcelorMittal | View profile | 10001+ | Luxembourg, Luxembourg, Luxembourg, Europe | corporate.arcelormittal.com/ |
| Tata Steel | View profile | 10001+ | Mumbai, Maharashtra, India, Asia | www.tatasteel.com |
| JFE Steel | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | www.jfe-steel.co.jp/en |
| Posco | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | posco.com |
Middle East & Africa Steel Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Steel Market Outlook will help companies and investors design strategic landscapes.
Building & Construction was the largest segment with a revenue share of 29.23% in 2023.
Horizon Databook has segmented the Middle East & Africa steel market based on building & construction, automotive & transportation, heavy industry, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.
- Middle East & Africa Steel Market Application Outlook (Revenue, USD Million , 2018-2030)
- Building & Construction
- Automotive & Transportation
- Heavy Industry
- Consumer Goods
- Others
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa Steel Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa Steel Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Middle East Africa Steel Market, 2018-2030 (US$M)
MEA steel market statistics, by application, 2018-2030 (US$M)
