Demand for steel pipes in Saudi Arabia is expected to grow, according to new market research, as polished steel pipes are increasingly used in a range of applications.
Published by Ken Research, the new market outlook report focuses on the overall market size for steel pipes and rebars sold in Saudi Arabia, as well as specific demand by sector.
Substantial investment in the oil and gas sector, construction, infrastructural development and agriculture in Saudi Arabia will stimulate the demand for steel pipes. In particular, the high tensile strength level and corrosion resistance of steel is expected to make the pipes a popular choice for new oil and gas developments.
Despite a global economic downturn, Saudi Arabia has plans to expand its petrochemical industry over the coming decade, building new plants, expanding existing ones and integrating refineries with new or existing petrochemical units.
Ken Research suggests that ArcelorMittal and Arabian Pipes will continue their dominance of the Saudi Arabian market. However, the two companies will encounter strong competition from National Pipe, Global Pipe, Saudi Steel Pipe and Welspun.
According to the study, the Saudi Arabia steel pipes market is expected to register a positive CAGR during the period 2016 – 2021.
Titled Saudi Arabia Steel Pipes and Rebars Market Outlook to 2021 - Growth of Construction Sector and Oil & Gas Projects is Likely to Drive Demand, the new report is available from Ken Research.