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Steel tube industry in EU grew by 7.2% in 2017 - Eurofer- The 19th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
5/11/2018 管材展-钢管展-steel tube expo-tube &pipe expo |
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Output in the steel tube industry grew by 7.2% in 2017, reflecting a temporary demand boost from pipeline projects and rather weak activity levels in 2016.
Steel tube industry output
EU steel tube production activity grew by 5.5% year-on-year in the fourth quarter of 2017. On balance, steel tube production in the EU rose by 7.2% in the whole year 2017, the sector’s best performance since 2011. Double-digit production growth was recorded in Germany and Spain.
Steel tube industry growth in 2017 and the first quarter of 2018. The strength of the steel tube sector in 2017 can be largely explained by the demand boost from the international pipeline market. As a result of strong bookings at the end of 2016 large diameter welded pipe producers enjoyed an exceptionally strong workload during 2017. But also the general improvement in business conditions in the EU stimulated demand for smaller diameter steel tubes used in the downstream processing industries and for tubular products used in the construction sector.
Business conditions in the OCTG market improved on a par with rising global rig count numbers. All in all, steel tube production activity grew by 7.2% in 2017.
In line with expectations, the boost from large welded tube demand dried up at the end of 2017. Particularly production in Germany witnessed a major downward correction compared with the elevated output levels registered in 2017. Total EU output fell by 1.5% in the first quarter of 2018. Demand for the other tube products held up well, supported by healthy business conditions in the key client sectors of smaller welded and seamless steel tubes.
Steel tube industry forecast 2018-2019
In 2018, steel tube production activity in the EU is projected to stagnate at the 2017 level; a very modest growth of 0.7% is currently pencilled in for 2019. The market segment for large welded tubes will remain subdued for the time being. Although there are theoretically ample international pipeline projects to be developed into the actual building stage, these projects rely on very strong partnerships because they are very capital intensive and inherently long-term. Building these lines is not straightforward and the obstacles along the road leading to project start-up are numerous. Many of the pipelines planned around the world still confront commercial, financial, and political issues which often lie outside the remit purview of project''s promoters.
The projected fall in output of large welded tubes will be compensated for by a continued rise in production activity in the other tube segments.
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