Middle East & Africa Steel Market Size & Outlook

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 3.7% is expected of Middle East & Africa steel market from 2025 to 2030.
Revenue, 2024 (US$M)
$96,544.4
Forecast, 2030 (US$M)
$120,147.9
CAGR, 2025 - 2030
3.7%
Report Coverage
Middle East & Africa

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 2023USD 94,582.7 million
Market revenue in 2030USD 120,147.9 million
Growth rate3.5% (CAGR from 2024 to 2030)
Largest segmentBuilding & construction
Fastest growing segmentConsumer Goods
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationBuilding & 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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Steel Market Companies

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MEA steel market size, by country, 2018-2030 (US$M)

Middle East & Africa Steel Market Outlook Share, 2024 & 2030 (US$M)

MEA steel market size, by country, 2018-2030 (US$M)

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