Growing steel demand as Expo 2020 Takes Off
Steel is a component in everything from massive skyscrapers to home appliances. When a market grows, the steel industry grows right along with it.
In the UAE, this sector is poised to achieve impressive growth over the upcoming years, as Expo 2020 and its surrounding projects take flight. In fact, according to Research and Markets, steel consumption in the UAE is poised to grow at a CAGR of 8% during 2016-2020. In 2017 alone, there will be an estimated 11 billion AED worth of construction contracts awarded at the Expo 2020 site.
Expo Site Development
The Expo 2020 site itself will play host to a variety of pavilions. Many of these will be temporary steel structures that rely on metal decks for their construction. Composite metal decking provides a great solution for temporary construction, as it can be assembled with minimum difficulty. Furthermore, the use of metal decks can reduce construction time (sometimes up to 50%). This is an important factor considering the Expo’s looming deadline.
Beyond what’s happening at the Expo 2020 site itself, there will be plenty of other infrastructure projects to support the grand event. For instance, there is set to be an extension of the Dubai Metro, connecting to the Expo 2020 site. Furthermore, the Al Maktoum Airport is also scheduled for an expansion. As MPIL has previously contributed to the ambitious expansion of the Mumbai International Airport, we know the multitude of requirements and sharp time constraints related to such a project. We also know that for a project that will attract such high foot-traffic, one generally looks to color coated profiles for cladding. This can provide an aesthetically superior look that gives a great first impression to the many tourists entering the city.
It’s an exciting time in the UAE, as construction projects are ramping up in preparation for the big event. As investor sentiment continues to improve, we are likely to see increased demand for steel in order to support these upcoming mega projects. We look forward to the opportunities that lie ahead.