GENERAL NEWS
European sustainable steel market analysis
The “ Europe Sustainable Steel Market - Analysis and Forecast , 2022-2031 ” report has been added to ResearchAndMarkets . com ’ s offering . The European sustainable steel market ( excluding the UK ) is projected to reach US $ 165.9 billion by 2031 from US $ 86 billion in 2022 , growing at a CAGR of 7.6 % during the forecast period ( 2022-2031 ).
“ The growth of the sustainable steel industry in the European market is expected to be driven by strict government regulations , carbon neutrality goals and the desire for energy and cost efficiency by using recycled steel . In addition , market expansion is anticipated due to the increased demand for steel as well as the scarcity of energy and raw materials . But obstacles including incomplete separation and complex product design , which can lead to impurities in recycled steel , and high infrastructure and green hydrogen costs might make it expensive to produce green steel , which could impede the market ’ s growth ,” commented the analyst .
Issues include contaminants in recycled steel and the high cost of producing green steel because of infrastructure costs and the cost of green hydrogen . Despite these obstacles , the industry is expected to grow as the region embraces the advantages of recycled and green steel solutions and keeps up its commitment to sustainability .
“ The increasing focus on climate change is driving the transition of energy-intensive and carbon-intensive industries . Although recycled steel is a sustainable option and caters to various end-use applications , green steel is expected to be the best option for the decarbonisation of the steel industry in the long term . Stringent regulations and ongoing technological advancements are expected to boost the adoption of sustainable steel in various end-use industries . The growth in the sustainable steel market is estimated to be robust during the forecast period ,” concluded the analyst . n
PMA elects new Chairman of the Board
The Precision Metalforming Association ( PMA ) has announced the election of Gregg Boucher as its 2024 Chairman of the Board . Boucher is the group chief operating officer of Ulbrich Stainless Steels and Special Metals .
Gene Lambert , vice president of sales for Batesville Tool & Die , Inc ., will serve as vice chairman and treasurer . Both will serve one-year terms . Boucher succeeds outgoing PMA Board Chair Jeff Aznavorian , President of Clips & Clamps Industries .
PMA is the full-service trade association representing the US $ 137-billion metalforming industry of North America , the industry that creates precision metal products using stamping , fabricating , spinning , slide forming and roll forming technologies as well as other value-added processes . Over 900 member
Gregg Boucher . companies also include suppliers of equipment , materials and services to the industry .
“ I ’ m thrilled to be elected chairman and thank Jeff Aznavorian for his exceptional leadership this past year ,” said Boucher . “ I look forward to continuing his successful efforts to build a stronger metalforming community . Successful metal forming companies must enhance and invest in their IT tools , including Industry 4.0 tenets . Managers need immediate access to data and must communicate — at an accelerated pace — both internally and externally . All of this hugely impacts the type of workforce required and their skillsets . Position responsibilities will continue to expand as we all continue to evolve from manufacturers into technologydriven companies .”
He will also focus on identifying and meeting the needs of PMA member company management , including its increasingly younger leaders .
“ I plan to engage with a strategy consultant and work with PMA President , David Klotz , to formulate a long-term strategy for PMA . We must truly understand what the membership wants from the association so that we ’ re putting our time , energy and resources into those areas . We might find that PMA should enhance what we already do , or we may need to look at other opportunities as well ,” he said .
He also plans to work with an independent research organisation to conduct a PMA membership survey . n
www . pma . org
AI functionality for quality management
Quality Management Systems ( QMS ) software is evolving from capturing quality complications at end-of-line checks to embedded quality processes at every production stage . Artificial intelligence ( AI ) will transform QMS software by allowing manufacturers to close the loop on quality management more effectively , driving quality initiatives across the production lifecycle from design to control . According to global technology intelligence firm ABI Research , manufacturers can expect significant announcements and releases of AI functionality for QMS software in 2024 , with deployments commencing in 2025 .
“ Major impactful AI applications for QMS will include advanced analytics and risk management , Corrective and Preventive Actions ( CAPA ) automation , Failure Mode and Effects Analysis ( FMEA ) authoring and AI-powered statistical process control ,” explained James Prestwood , Industrial and Manufacturing Technologies Industry Analyst , ABI Research .
QMS software vendors are first movers by adding AI directly into their solutions . Larger vendors are also developing AI applications to ensure that strategic manufacturing challenges have been addressed , alongside significant backroom testing . The transformative effect of AI on QMS software will close the loop on quality management by driving continuous improvement in both the product and the production process .
“ However , due to an entrenched resistance to change in operations , quality workers will be slower to develop an affinity for AI functionality , aside from background data analytics processes ,” Prestwood concluded .
These findings are from ABI Research ’ s ‘ QMS Software : AI Trends and Market Impact ’ application analysis report . n
www . abiresearch . com
6 | ismr . net | ISMR April 2024