UAE Automotive Steel Market Outlook

the automotive steel market in the uae is expected to grow with both domestic and export demands in the coming years. the increasing demand from the middle east and north africa (mena) region for new vehicles and the growth in the automotive industry in the uae are the chief drivers of this market. apart from meeting the needs of the domestic automotive industry, uae-based manufacturers produce a variety of steel products for export that are used in various applications. on the other hand, saudi arabia and iran’s steel markets are mainly concentrated on their own industries, while the uae is more open to exporting their products. with higher purchasing power, consumers in the uae drive the demand of luxury vehicles from various countries. the number of oems from the us, japan, korea, and europe making their way into the markets of uae is also on the rise. this, in turn, is pushing the demand for steel amongst local manufactures. in the coming years, the demand for automotive steel in the uae will continue to be driven by growth in the automotive sector and increasing investment in the transportation infrastructure. additionally, the development of new technologies and techniques such as cold rolling and computer numerical control (cnc) milling are anticipated to result in the production of higher quality automotive steel products. in the long run, the environment-friendly initiatives implemented by the government of uae is expected to drive the usage of lightweight components in the automotive industry. this will further fuel the demand for lighter weight and more ductile steel, such as ultra high strength steel (uhss), in the automotive sector. furthermore, the growth of e-commerce and online markets for automotive steel in the country will impact the growth of the uae automotive steel market. in conclusion, the automotive steel market in the uae is expected to experience positive growth prospects over the forecast period of 2018 to 2032. the market will benefit from increased growth in the automotive industry and investment in infrastructure projects, as well as from increasing demand for lightweight and environment-friendly steel.