TMT Steel Bar in GCC shall reach a value of $X Million in 2033, growing with a CAGR of X% during the forecast period of 2023 to 2033.
Thermo-Mechanically Treated steel bars are a form of high-strength reinforcement steel commonly used in the building sector. They have various advantages over conventional steel bars, making them a preferred alternative for concrete structures such as buildings, bridges, and highways.
The infrastructure investments in Dubai 2040 urban master plan to become a global destination and deep tunnel projects along with construction of Madinat Al Hareer in Kuwait to develop the city are the major factors driving the growth of the TMT steel bars in GCC.
Investments in Dubai 2040 urban master plan increases the demand for TMT steel bars.
The Dubai 2040 Urban Master Plan outlines a comprehensive strategy for Dubais sustainable urban growth. It aims to improve peoples enjoyment and quality of life while also cementing Dubai as a global destination for citizens, residents, and visitors over the next two decades. The plan features a strategic structural layout that integrates all of the emirates urban development master plans while also aligning with Dubais strategic economic priorities and future demands. The key objectives of Dubai 2040 urban master plan are to upgrade Dubai urban areas such as Deira and Bur Dubai, Downtown and Business Bay, Dubai Marina and JBR, and two new centers, Expo 2020 Centre and Dubai Silicon Oasis Centre. The plan calls for the establishment of five new city centers and numerous new districts, all of which will necessitate significant residential, commercial, and public building development. These structures will depend significantly on reinforced concrete, resulting in a high need for TMT steel bars for reinforcement.
Investment in Deep Tunnels project in Dubai drives the market growth.
The Deep Tunnels Portfolio entails building deep-gravity sewage tunnels and treatment plants around the emirate. Two sets of deep tunnels will be built, connecting to two terminal pump stations at sewerage treatment plants (STPs) at Warsan and Jebel Ali. Hatta will have a traditional sewage and drainage collecting system, as well as STPs. The concept also incorporates recycled water distribution systems linked to STPs. The project would cost approximately AED80 billion and has been planned to meet the demands of the Dubai population for the next 100 years, in accordance with the Dubai Economic Agenda D33 and Dubai Urban Plan 2040. The project entails excavating a series of deep tunnels to store cleansed wastewater and generate renewable energy thereby driving the demand for TMT steel bars to reinforced concrete to ensure structural integrity and stability.
Construction of Madinat Al Hareer in Kuwait increases the demand for TMT steel bars.
Madinat Al Hareer is a proposed 250-square-kilometer planned metropolitan region in Subiya, Kuwait, that is expected to be finished within 25 years at a cost of $132 billion. The Jaber Causeway will connect the city to Kuwait City, and once completed, it will include the Burj Mubarak al-Kabir, a big business center, conference areas, a 2-square-kilometer nature reserve, and a slew of tourist attractions, hotels, environmental areas, and public gardens. The city will require considerable infrastructure, including roads, bridges, tunnels, utilities, and transportation networks thereby driving the demand for TMT steel bars.
Recent Strategic Developments
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Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2032
TMT Steel Bar Market in GCC Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2033)
• Data breakdown for application Industries (2022 - 2033)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
TMT Steel Bar Market in GCC Market Segments
By Diameter Range (Revenue, USD Million, 2022 - 2033)
• 6mm to 8mm.
• 8mm to 12mm.
• 12mm and above
By Application Type (Revenue, USD Million, 2022 - 2033)
• Residential.
• Commercial.
• Infrastructure.
By Grade Type (Revenue, USD Million, 2022 - 2033)
• Fe-415.
• Fe-500.
• Fe-550.
• Fe-600.
• Others.
TMT Steel Bar Market in GCC Companies
• SABIC Steel
• Ezz Steel
• ArcelorMittal
• Emirates Steel
• Senaat Steel
• Gulf Steel Industries
• Bahrain Steel
