Middle East Steel Rebar Market
While demand growth for steel rebar has not been even in Middle East, the region as a whole continues to consume more steel rebar. At the same time, production growth of steel continues from present and new capacity. Moreover, upsurge in number of infrastructure projects in the region majorly in GCC countries, is likely to be the growth engine for steel rebar industry. Intense competition in the steel rebar industry has resulted in the market becoming commoditized. Steel bar industry players in the past few years have concentrated more on marketing and branding of the product, which is one of the major factor for the growth of steel rebar market in developing countries of the region. With the growing focus on infrastructure and development, the Middle East steel rebar consumption is anticipated to upsurge in the years to come. However, there are some unpredictability in the rate of growth in emerging economies owing to volatility in crude oil prices and unstable financial markets.
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