Business & Money | Tuesday 2 February, 2016 12:26 pm |

The strong growth achieved by the SteelFab 2016 trade fair, which concluded at Expo Centre Sharjah on January 20, has given credence to the fact that the manufacturing sector is playing a key role in helping the country’s economy withstand the impact of low oil prices.

 

The 12th SteelFab 2016 was held from January 17 to 20, and saw impressive performance in terms of visitor pre-registrations and turnout, sales, business leads and industry response during its four-day run. The visitor pre-registrations touched 4,628 from nearly 75 countries, while visitor turnout stood at 8,176.

 

“Time and again our leaders and analysts have reiterated that though oil-producing states have measures in place for economic diversification, the only country that has been able to find success is the UAE. And, the manufacturing sector, which was the second biggest contributor to the GDP in the past, has enough steam to keep the economy going, especially since it could bank on World Expo 2020 in Dubai. The contractors and sub-contractors could also plan and foresee the growth considering the FIFA Soccer World Cup 2022 in Qatar for which the projects are still under awarding stage. A lot of these projects are expected to come through in the next two years and majority of steel contracting is expected to be completed in the UAE as it already a home to a large number of steel fabrication yards and facilities,” said Mr. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah.

 

Though most oil-producing countries in the MENA region may potentially lose some US$ 300 billion in revenues in 2016 alone, the fundamental strength of the UAE economy is very apparent given that it is the second largest Arab economy, and is forecast to grow by 3.5 per cent this year too.

 

Regional steel fabricators, who rely on SteelFab for new technology and machinery, are also expecting a rise in contracts as, according to recent reports, infrastructure spending is likely to continue or even accelerate in the run-up to World Expo 2020 and FIFA Soccer World Cup 2022 in Qatar.

 

This time too, the regional industry didn’t miss its date with SteelFab 2016, and made the most of the event which had showcased more than 370 exhibitors representing nearly 1,000 brands from 43 countries at all the six halls of Expo Centre Sharjah.

 

Besides, new special focus areas, special pavilions, live displays, technical seminars and product presentations ensured that the show remained the best sourcing platform for the manufacturing industry and core sectors like construction, infrastructure, plastics, cement & ceramics, oil & gas, ship building and pipelines, among others.

 

SteelFab 2016 also saw the launch of a new vertical -- Fasteners World Middle East – besides the introduction of two special focus areas – Stainless Steel and Wear Resistant & Hard Facing Cladding.

 

While the new vertical that was targeted at the fastener and fixing industry proved to be a boon for main contractors, construction companies, oil & gas industry, ship building and heavy manufacturing industry, the new special focus areas attracted the country’s cement and ceramics industries and fabricators who prefer stainless steel due to its remarkable strength and resistance to high temperatures.

 

The other special focus areas at SteelFab included Welding & Cutting, Machine Tools and Pipe & Tube Machinery along with the three special segments of Steel-Tech, Fabricators Pavilion & Steel Showcase.

 

The increasing number of foreign exhibitors provided visitors with a wide range of choice in terms of machinery and quality, and in some cases monetary benefits due to a sliding Euro against the US dollar. Foreign presence at SteelFab was led by country pavilions, including Italy (31 exhibitors), Germany (23) and Taiwan (22), apart from exhibitors from Turkey, China and India.

 

Hundreds of executives from the regional industry attended the technical seminars that took up topics such as lean manufacturing solutions (Lincoln Electric Company), surface preparation & finishing (SciTeeX Sp), automation advantage (Zeman Bauelemente Produktionsges), reverse engineering (Hexagon Metrology), and sheet metal working machines (Somo), among others.

 

There were a total of 19 seminars that saw leading manufacturers providing insights into new technology, developments and comprehensive solutions to issues facing the industry.

 

The next edition is scheduled to take place from 16 to 19 January 2017. Over 80% of exhibitors took part at the last edition has already confirmed their participation for 2017.