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UAE's minerals sector set to hit $10bn by 2025, say experts

DUBAI, March 15, 2023

In the backdrop of the accelerated energy transition to achieve Net Zero goal by 2050 as well as the exponential growth in infrastructure development and construction activities in UAE, the minerals and metals industry is estimated to grow at a rate of over 3 per cent, hitting $10 billion by 2025, said industry experts ahead of the trade fair quartet 'The Bright World of Metals' expos in Dusseldorf, Germany.
 
`The Bright World of Metals’ expos comprise four leading global trade fairs under one canopy – the casting technology show, GIFA, metallurgy-focused METEC, industrial thermal processing technology,  Thermprocess and the customized cast products show, Newcast.
 
At the press conference, the spokespersons of GIFA, METEC, Thermprocess and Newcast said the severe disruptions the industry experienced during the Covid-19 pandemic period with sharp fall in volumes and growth rates is being reversed now.
 
The event, to be held from June 12 to 16, will witness solid participation from UAE companies, they stated.
 
"From a period when production volumes were in negative to the current growth phase and the future prospects, the industry is on a turnaround with demand continuing to pick up from a host of economic sectors including construction and building materials, infrastructure," remarked Friedrich-Georg Kehrer, Global Portfolio Director, Messe Dusseldorf.
 
Elaborating on the Middle East participation at the expos, Friedrich said that three blue-chip companies from the UAE have already announced their participation to explore trade partnerships and business opportunities in the overall growth scenario.
 
The Metallurgical and Foundry industries form the backbone of development in any economy, and the UAE with the fast-paced economic expansion will open diverse opportunities for the industry to grow," he added.-TradeArabia News Service



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