According to a research report titled ‘Middle East Long and Flat Steel Products Market (Value, Volume) - Analysis By Product Type, End User, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report, Middle East long and flat steel products market was valued at USD 19.2 billion in 2020, and is anticipated to grow at a healthy rate during the forecast period 2021-2026.
 

As per the research findings, high energy prices coupled with increased government spending are projected to spur Middle East long and flat steel products industry growth. Moreover, growing focus of steel producers on operational cost reduction, supply chain management as well as customer service is also anticipated to add traction to the overall market development across the region.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3733208/
 

Rapid infrastructure development, with special emphasis on transportation, public services, and housing in urban centers will also expand the market scope. Additionally, efforts undertaken by the Gulf Cooperation Council (GCC) towards diversification of non-oil sectors, and expansion of manufacturing potential in the region are likely to boost market growth in the forthcoming years.
 

Despite the positive outlook of Middle East long and flat steel products market, factors such as rising raw material costs, global protectionism, stagnating demand, and declining sales prices are expected to inhibit the profit trajectory during the forecast period. Furthermore, dwindling oil prices during the coronavirus pandemic in 2020 caused the construction industry to flatline, substantially slowing the industry growth.
 

Middle East long and flat steel products industry, as per the report, is studied from the perspective of product type, end-user, and geographical outlook. Based on product type, long steel products industry is classified into wire rods, rebar, rails, and merchant bars, while flat steel products industry is arrayed into hot rolled coils, galvanized steel, cold rolled coils, and color coated steel.
 

End-user spectrum of the business vertical spans across construction, automotive, mechanical equipment, and other sectors.
 

Considering the regional outlook, Kuwait, UAE, Oman, Iran, Saudi Arabia and Bahrain are the major countries covered in the research document.
 

Speaking of the competitive landscape, major players in the Middle East long and flat steel products market sphere are Emirates Steel Company LLC, Hadeed Sabic Jubail, Qatar Steel, Rajhi Steel, United Steel Industrial Company (Kuwait Steel), Al Ghurair Iron & Steel LLC, Mobarakeh Steel Company, and Al-ittefaq Steel Products Company.