USD 54 Billion in UAE Industrial Exports with 5.5% Growth Expected in 2024
The cities and industrial areas across the UAE are witnessing a significant development in the establishment of new factories and industrial facilities across various sectors.
In 2024 and the first half of 2025, there has been a substantial expansion in the iron, aluminum, cables, and heavy industry sectors, marked by the launch of numerous high-quality industrial projects backed by significant investments. This noteworthy evolution encompasses all industries, including petrochemicals, benefiting from major investments and expansion projects. According to the Gulf Petrochemicals and Chemicals Association (GPCA), in 2021, the UAE accounted for 18.6 million tons of the Gulf’s total petrochemical production, thanks to expansions within the sector. The UAE’s petrochemical output is anticipated to reach 20 million tons annually, with expected annual growth of 8-10% in the petrochemical sector over the next five years.
At the fourth edition of the “Manufacture in the UAE” platform held in late May, new industrial projects and procurement opportunities exceeding AED 11 billion were announced, alongside competitive financing solutions amounting to AED 40 billion in the coming years to foster the growth of small and medium-sized enterprises.
The UAE’s industrial sector has shown remarkable growth over recent years, ranking as the second largest contributor to the non-oil GDP by 2024, valued at AED 210 billion, reflecting an approximate 2.5% increase compared to 2023. Moreover, the value of UAE’s industrial exports rose to AED 197 billion, an increase of AED 10 billion with a growth rate nearing 5.5% from 2023.
Manufacturing in Dubai
The manufacturing sector in Dubai plays a crucial role in supporting the emirate’s economic development efforts, aided by government initiatives. Dubai has successfully attracted new investments into the sector as part of its industrial strategy, prioritizing advanced manufacturing technologies. The manufacturing sector’s total value in Dubai reached AED 28.3 billion during the first nine months of 2024.
Key stakeholders, including Dubai Industrial City, the National Industries Complex, the Dubai Integrated Economic Zones Authority, the Dubai Chambers, and Dubai South, have collectively supported the transformation of the manufacturing sector in Dubai.
Aluminum Recycling
Abdul Nasser Bin Kalban, CEO of Emirates Global Aluminium, stated that the company is currently constructing the largest aluminum recycling plant in the nation, with a production capacity of 170,000 tons per year, aimed at transforming local scrap into high-quality, low-carbon products.
He noted that the new plant is expected to begin operations in 2026, creating approximately 150 direct job opportunities.
He also indicated that the new facility will establish Emirates Global Aluminium as the largest recycler of scrap locally, with plans to double the company’s economic contribution to the nation by 2040, solidifying its position as a leader in sustainable economic growth.
Bin Kalban mentioned an agreement with Sunstone, the largest producer of carbon electrodes in China, to explore building a new facility for manufacturing carbon electrodes locally, as part of the efforts to support the “Manufacture in the UAE” initiative and the national content program by collaborating with international partners to develop manufacturing facilities within the country for materials currently imported.
In 2024, the company invested over AED 8.1 billion on purchases from local suppliers, accounting for more than 40% of its total spending globally. This underscores the company’s strategic focus on supporting the national supply chain and attracting industrial investments to procure the necessary materials and services from local sources, while pushing forward the industrial development agenda and enhancing the national economy through a strong commitment to localizing supply chains and building an integrated industrial ecosystem in the country.
Emirates Global Aluminium is pivotal in the aluminum industry within the country, a major industrial sector outside of oil and gas, contributing about 1.3% to the national GDP and supporting over 52,000 jobs.
Asset Enhancement
Engineer Saeed Ghobash Al Ramithi, CEO of Emsteel Group, emphasized that the company supports the goals of the national industrial strategy “Project 300 Billion” for 2031 by implementing ambitious programs that enhance the competitiveness of the industrial sector and accelerate the transition towards sustainability.
He elaborated that the group has launched an asset enhancement program with investments of around AED 625 million to refine production capabilities and expand its product portfolio to meet future market demands.
He added that the group is proud of its successful pilot project with Masdar to produce sustainable steel using green hydrogen, which is a key milestone in decarbonizing heavy industries and building a more sustainable industrial future. Furthermore, as part of its sustainability commitment, Emsteel has introduced the first green finance framework in its sector, paving the way for new opportunities to advance carbon emission reductions.
Advanced Technologies
Charles Milaji, CEO of the cable division at Ducab, remarked that the expansion of new factories in the UAE reflects a shared commitment to bolster the nation’s industrial sector and diversify income sources, in line with the “Project 300 Billion” strategy aiming to elevate the industrial sector’s contribution to GDP to AED 300 billion by 2031.
He continued that Ducab is proud to play a significant role in this industrial transition, continuing to invest in advanced technologies and enhancing its production capacity to meet increasing local and global demand.
Milaji noted that the group achieved a local added value percentage of 96.9% under the In-Country Value (ICV) program in 2024, designed to enhance local supply chains, support the growth of national industries and services, and redirect spending towards the local economy, thereby contributing to the diversification of national output and enhancing the competitiveness of the UAE’s industrial sector on regional and global fronts.