Steel fabrication is the process by which stainless fabricators shape raw materials and steel alternatives into the necessary shapes. Its applications include automotive, construction, civil infrastructure, and mining. The steel manufacturing process has two ways. The first is the integrated route process or raw material approach, which involves melting, heating, and mixing various types of materials. Another steel fabrication technique is the electric arc furnace, which melts recycled steel to produce steel. This stainless-steel fabrication process is used to manufacture a wide range of products, components, and projects, including architectural metal fabrication projects. The steel offers qualities such as high oxidation temperature, integrity, and corrosion resistance.
GCC Structural Steel Fabrication Market Driving Factors and Challenges
Driving Factors: The international market has a significant demand for structural steel fabrication since it is employed in the construction of highways and bridges. Structural steel fabrication is required when installing beams in residential and commercial constructions. On construction sites, fabrication procedures are utilised to lay trusses, angles, plates, and hollow sections. As a result, the structural steel fabrication market is predicted to rise steadily in the approaching years. Over the last two decades, the structural steel fabrication market has seen investments in the use of 3D model-driven technology to speed up production, improve quality, and reduce waste. Steel is now being used in exceptionally cost-effective, BIM-enabled (Building Information Modelling) methods that are scalable to meet client demand.
Challenges: Lack of awareness regarding the advantages of this structural steel in the building industries is predicted to impede the market's growth. Due to a lack of technological know-how, the structural steel market is anticipated to face challenges throughout the duration of the projected period. The key factor impeding the expansion of the structural steel sector is the volatile price of raw materials. The market value of structural steel declines as a result. Outside, structural steel is susceptible to corrosion due to the expensive flame retardant coating required.
Impact of COVID-19 on GCC Structural Steel Fabrication Market
The COVID-19 epidemic caused delays and disruptions in construction activities, which had an impact on the GCC structural steel fabrication sector. However, the market is expected to increase up when economies recover and construction projects resume. The need for steel manufacturing solutions was fueled by the pandemic's emphasis on the significance of durable and sustainable building designs.
GCC Structural Steel Fabrication Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Hidada Ltd Company, Arabian International Company For Steel Structures, Yamamah Steel Industries Co, Mabani Steel LLC, Al Shahin Company For Metal Industries, IMCC, Standard Steel Fabrication Co. LLC, Techno Steel, Aarya Engineering, Vogue Steel LLC, Others.
GCC Structural Steel Fabrication Market Segmentation:
By Fabrication Process: Based on the Fabrication Process, GCC Structural Steel Fabrication Market is segmented as; Metal Welding, Metal Forming, Metal Cutting, Metal Shearing, Metal Stamping, Metal Rolling.
By Application: Based on the Application, GCC Structural Steel Fabrication Market is segmented as; Construction, Automotive, Manufacturing, Energy & Power, Defense & Aerospace.
By Region: This research also includes data for Saudi Arabia, United Arab Emirates, Qatar, Rest of GCC.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.