UAE Metallurgy and Foundry Industry poised to grow by over 3 per cent YoY

n Against the backdrop of the accelerated energy transition to achieve the Net Zero goal by 2050, as well as the exponential growth in infrastructure development and construction activities in the UAE, the minerals and metals industry is estimated to grow at a rate of over 3 per cent yearon-year, touching an estimated value of nearly US$10 bn by 2025, industry experts have indicated.

A press conference was held recently in Dubai to announce participation of companies from the UAE and the region at the upcoming trade fair quartet, `The Bright World of Metals’ Expos in Dusseldorf, Germany - GIFA, METEC, THERMPROCESS and NEWCAST.

Officials and spokespersons asserted the severe disruptions the industry experienced during the Covid pandemic period with sharp fall in volumes and growth rates is being reversed now.

“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,” affirmed Friedrich-Georg Kehrer, Global Portfolio Director, Messe

Elaborating on the Middle East participation at `The Bright World of Metals,’ Expos slated during June 12-16, 2023, he confirmed that three blue-chip companies from the UAE have announced their participation to explore trade partnerships and business opportunities in the overall growth scenario.

The three key companies participating at the expo include Emirates Global Aluminium (EGA), the world’s largest premium aluminium producer and the biggest industrial company in the UAE outside the oil and gas sector.

Other companies are Ducast, Middle East’s leading manufacturer and supplier of manhole covers, gratings and municipal castings, and steel products’ trading company Wirex FZE.