Steel demand in the Middle East and North Africa (Mena) region is expected to accelerate in 2024 and 2025 after a significant slowdown in the past two years, the World Steel Association (WSA) said in a report.
Demand is forecast to rise by just over 4 percent and 2.6 percent year on year to 57 million tonnes and 59 million tonnes in 2024 and 2025, respectively.
Global Data, a London-based data analyst and consultancy, estimated the size of the UAE’s construction market at $94 billion in 2023 and expects annual growth of 3 percent between 2025 and 2028.
