Middle East Raw Steel Market (2026): Market Leaders Powering Regional Growth

MARKET INSIGHTS

The Middle East raw steel market was valued at USD 42.6 billion in 2024 and is expected to rise to USD 44.8 billion in 2025, reaching USD 60.9 billion by 2034, reflecting a steady expansion trend in the region.

Raw steel refers to crude steel in its primary form after initial smelting but before further processing. It includes both basic oxygen furnace (BOF) and electric arc furnace (EAF) output, which are then rolled, forged, or coated to produce finished steel products.

Middle East Raw Steel Market – View in Detailed Research Report

The market is driven by rapid urbanization and large‑scale infrastructure projects across the Gulf Cooperation Council. Saudi Arabia’s Vision 2030 has already pushed construction steel demand up 12% year‑over‑year, while a 25% increase in EAF capacity in 2024 underscores the region’s shift toward lower‑carbon steelmaking. Automotive manufacturing is also becoming a key driver, with steel consumption in vehicle production growing at 7.5% annually.

🔟 10. Hadeed (Saudi Iron & Steel Co.)

Headquarters: Riyadh, Saudi Arabia
Key Offering: High‑strength long and flat products, advanced high‑strength steel grades

Hadeed has positioned itself as the backbone of Saudi Arabia’s infrastructure ambitions, supplying raw steel for mega‑projects such as NEOM, Riyadh Metro, and new smart cities. The company’s integrated production lines allow it to match the stringent quality and delivery timelines required by public‑sector contracts.

Sustainability & Growth Initiatives:

• Expansion of EAF capacity to reduce carbon intensity
• Investments in hydrogen‑based direct reduction research
• Partnerships with local universities for advanced metallurgy studies

9️⃣ 9. EMSTEEL (Emirates Steel)

Headquarters: Dubai, United Arab Emirates
Key Offering: Integrated steel production, green hydrogen‑based steelmaking pilot

EMSTEEL operates one of the largest integrated steel plants in the Gulf, with a focus on sustainability. Its recent green hydrogen pilot demonstrates a commitment to decarbonizing the steel value chain, while its robust product portfolio supports both construction and industrial sectors.

Sustainability & Growth Initiatives:

• Green hydrogen pilot for EAF operations
• Enhanced scrap utilization to lower raw material costs
• Collaboration with UAE Ministry of Energy on renewable electricity procurement

8️⃣ 8. Qatar Steel

Headquarters: Doha, Qatar
Key Offering: Long and flat products, high‑strength low‑alloy steels

Qatar Steel’s recent capacity restarts have positioned it as a reliable supplier for both domestic projects and regional exports. Its focus on high‑strength grades aligns with the demand for durable materials in construction and heavy equipment.

Sustainability & Growth Initiatives:

• Optimization of DRI‑EAF route to cut emissions
• Investment in energy‑efficient rolling mills
• Strategic alliances with petrochemical companies for feedstock sourcing

7️⃣ 7. Ezz Steel

Headquarters: Cairo, Egypt
Key Offering: Integrated steel production, DRI‑EAF hybrid technology

As the largest steel producer in the Arab world, Ezz Steel supplies raw steel to a wide range of sectors, including construction, automotive, and energy. Its hybrid DRI‑EAF technology allows for flexible raw material sourcing and lower production costs.

Sustainability & Growth Initiatives:

• Expansion of DRI capacity to reduce reliance on imported scrap
• Implementation of carbon‑capture trials in EAF units
• Participation in regional circular economy initiatives

6️⃣ 6. Jindal Shadeed Iron & Steel LLC

Headquarters: Muscat, Oman
Key Offering: Long products, high‑strength steel, green steel projects

Jindal Shadeed has been a key player in Oman’s steel sector, focusing on high‑quality long products for construction and mechanical applications. The company is actively exploring green steel technologies to meet future demand for low‑carbon materials.

Sustainability & Growth Initiatives:

• Pilot projects for hydrogen‑based DRI
• Upgrading of EAF units for higher scrap conversion
• Collaboration with local universities on metallurgy research

5️⃣ 5. Mobarakeh Steel Company

Headquarters: Tehran, Iran
Key Offering: Flat and long products, extensive DRI‑EAF operations

Mobarakeh remains one of the region’s largest steel producers, with a broad product mix that supports construction, automotive, and energy sectors. Despite geopolitical constraints, the company continues to invest in technology upgrades to maintain competitiveness.

Sustainability & Growth Initiatives:

• Enhancement of DRI capacity to reduce scrap dependence
• Implementation of energy‑efficient rolling processes
• Strategic sourcing of renewable energy for EAF operations

4️⃣ 4. Al‑Ittefaq Steel

Headquarters: Riyadh, Saudi Arabia
Key Offering: Long and flat products, high‑strength alloys

Al‑Ittefaq serves a wide range of construction and industrial customers, providing high‑quality raw steel that meets stringent durability requirements. The company’s focus on advanced alloys supports the region’s push for high‑performance materials.

Sustainability & Growth Initiatives:

• Investment in scrap recycling facilities
• Optimization of EAF processes for lower energy use
• Partnerships with local suppliers for raw material procurement

3️⃣ 3. Solb Steel

Headquarters: Riyadh, Saudi Arabia
Key Offering: Long products, advanced high‑strength steels

Solb Steel is a key supplier for large‑scale construction projects, offering a portfolio that includes high‑strength low‑alloy grades suitable for bridges, towers, and heavy infrastructure.

Sustainability & Growth Initiatives:

• Expansion of EAF capacity with renewable electricity sources
• Implementation of advanced scrap sorting systems
• Collaboration with engineering firms on structural design optimization

2️⃣ 2. Habas

Headquarters: Jeddah, Saudi Arabia
Key Offering: Long products, high‑strength steel for automotive and construction

Habas provides a range of high‑strength steels that support both the automotive sector and the region’s construction boom, emphasizing quality and reliability.

Sustainability & Growth Initiatives:

• Increased use of recycled scrap in EAF units
• Adoption of energy‑efficient rolling technologies
• Engagement with local suppliers to secure raw materials

1️⃣ 1. Khouzestan Steel Company

Headquarters: Ahvaz, Iran
Key Offering: Flat products, DRI‑EAF hybrid production

Khouzestan Steel plays a pivotal role in supplying flat steel for construction and industrial applications, leveraging its hybrid production approach to balance cost and quality.

Sustainability & Growth Initiatives:

• Expansion of DRI capacity to reduce scrap reliance
• Implementation of carbon‑capture trials in EAF units
• Collaboration with regional partners for renewable energy sourcing

Middle East Raw Steel Market – View in Detailed Research Report

Middle East Raw Steel Market – View in Detailed Research Report

🌍 Outlook: The Future of Middle East Raw Steel Market

The region is poised to maintain a stable growth trajectory, with infrastructure investment and diversification strategies ensuring continued demand for raw steel. The projected increase in EAF capacity and the adoption of green steel technologies are likely to shape the market dynamics over the next decade.

📈 Key Trends Shaping the Market:

• Expansion of EAF capacity to meet construction and automotive demand
• Investments in hydrogen‑based direct reduction to lower carbon intensity
• Growing adoption of advanced high‑strength low‑alloy grades for durability and weight reduction
• Increased focus on circular economy practices, including higher scrap utilization rates
• Strategic partnerships between regional producers and technology providers to accelerate decarbonization