UAE Metallurgy and Foundry Industry poised to grow by over 3 per cent, estimated value to reach nearly US$10 billion by 2025
- Key companies from the UAE take centre stage at `The Bright World of Metals’ expos in Dusseldorf to explore global trade partnerships
- World’s leading international trade fair quartet – GIFA, METEC, THERMPROCESS and NEWCAST to take place in Düsseldorf, Germany during June 12-16 2023
Dubai, March 14, 2023: In 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, touching an estimated value of nearly US$10 billion by 2025, industry experts said today.
At a press conference 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 – spokespersons said the severe disruptions the industry experienced during the COVID pandemic period with sharp fall in volumes and growth rates is being reversed now.
“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 etc. 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,” said Friedrich-Georg Kehrer, Global Portfolio Director, Messe Dusseldorf.
`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.
Elaborating on the Middle East participation at `The Bright World of Metals,’ expos slated during June 12-16, 2023, he said 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), which is 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.
The Bright World of Metals’ expos will be a platform where the paradigm change the industry is passing through will be highlighted, including new technologies, rising demands made on energy efficiency and the desire for careful handling of resources along the entire value chain for industries.
The importance of promoting circular economy will also be part of the discussions at the expo in the backdrop of supply chain disruptions during COVID as well as from geopolitical challenges such as Ukraine war and dependency on imports compared to in-country secure production and supplies.
“Our trade fair quartet is well known as the gateway to the world market. It is only here in Düsseldorf that decision-makers, experts, supplier to, and users in these industries can obtain a complete overview, exchange ideas and design trends for the markets of the future at not one but four trade fairs,” added Kehrer.