According to industry experts, the minerals sector is expected to grow at a rate of more than 3% and reach $10B by 2025 in the UAE due to the accelerated energy transition towards achieving Net Zero by 2050 and the significant increase in infrastructure development and construction activities.
The experts made these comments ahead of ‘The Bright World of Metals’ trade fair quartet, which includes four global trade fairs – GIFA, METEC, Thermprocess, and Newcast – all under one canopy, taking place in Dusseldorf, Germany from June 12 to 16.
The industry experienced severe disruptions during the Covid-19 pandemic period, with a sharp fall in volumes and growth rates, but it is now on a turnaround with demand continuing to increase from various economic sectors such as construction and building materials, and infrastructure, according to TradeArabia.
The event is expected to see strong participation from UAE companies in the minerals sector, with three blue-chip firms already announcing their participation to explore trade partnerships and business opportunities in the growth scenario. The experts believe that with the fast-paced economic expansion in the UAE, the Metallurgical and Foundry industries, which are crucial to development in any economy, will have diverse opportunities to grow.
