GENERAL NEWS
Galvanized steel market 2021-2025
The global galvanized steel market is poised to grow by 57.74 million tons from 2021-2025 , progressing at a CAGR of about 3 % during the forecast period .
The new ‘ Global Galvanized Steel Market 2021-2025 ’ report from Technavio provides a holistic analysis , market size and forecast , trends , growth drivers and challenges , as well as vendor analysis .
“ The market is driven by the rising demand for galvanized steel in industrial applications and the increase in demand for pre-engineered buildings . The study identifies economic growth in China and India as one of the prime drivers for the growth of the galvanized steel market during the next few years ,” it said .
The market is segmented by product ( sheet and strip , structures , pipes and tubes plus others ) and by geographic region . Leading galvanized steel market vendors include ArcelorMittal SA ; Baosteel Group Corp ; JSW STEEL Ltd ; Nucor Corp ; POSCO ; Tata Steel Ltd and Thyssenkrupp AG .
Global economy in focus
Multiple transitions will impact the global economy this year : COVID-19 moving from pandemic to endemic , fiscal policy stimulus to restraint and an energy transition from hydrocarbons to renewables . Amid these transitions , global economic growth will slow in 2022 , according to the annual Top-10 Economic Predictions released in December 2021 by analyst , IHS Markit .
IHS Markit ’ s top prediction for 2022 : new waves of COVID-19 will not derail the recovery . “ The subsequent spread in new cases and the emergence of the Omicron variant signal a transition from pandemic to endemic . As COVID-19 continues to spread around the globe , government responses will again be primarily focused on avoiding stress in the health system and encouraging vaccination . While general lockdowns will be avoided , service activities will remain constrained until effective and affordable cures become available and make further restrictions
“ In terms of geography , 87 % of the market ’ s growth will originate from APAC ,” added the analyst , Technavio . n
unnecessary ,” said Elisabeth Waelbroeck Rocha , Chief International Economist , IHS Markit .
According to the analyst , shipping disruptions , supply stickiness and energy price increases will continue to exert upward pressures on prices in the first half of 2022 . Logistics bottlenecks will only be resolved later in the year , as demand for goods moderates and traffic normalises , while increases in oil production and natural gas production alleviate pressures from energy prices . Wages will respond temporarily to labour market pressures in the U . S . and Europe with little-lasting effect on inflation . Year-on-year inflation rates will therefore slow by the end of 2022 .
“ High inflation levels , continuing economic expansion and further progress in controlling COVID-19 impacts will encourage central banks to move towards tighter monetary policies in 2022 ,” added the analyst . n
www . technavio . com
Taiwan calling
TIMTOS x TMTS 2022 , Taiwan ’ s ‘ largest and only co-branded machine tool show ’, will be held at Taipei Nangang Exhibition Centre ( Halls 1 and 2 ) from 21-26 February 2022 . Around 950 exhibitors with 5,200 booths are expected . “ It will not only be the largest trade show in Taiwan since the outbreak of the pandemic , but one of the most significant events for the global machine tool industry in early 2022 ,” the show organiser told ISMR .
Aside from metal cutting machine tools , machining centres and metalforming machine tools , the TIMTOS x TMTS 2022 joint event will also showcase a line-up of smart machines . Smart machinery is part of the Taiwanese government ’ s “ five plus two ” innovative industries plan .
In response to travel restrictions , TIMTOS x TMTS 2022 will also launch various online services and activities in conjunction with the physical exhibition , including an on-site guide for online visitors ; Live Tour @ Showground ; Live Stage for product launches ; virtual displays and one-on-one online procurement meetings .
Taiwan , which is ranked as the world ’ s ninth-largest manufacturing nation and the fifth-largest machine tool exporter , is a major
producer in the machine tool industry with about 1,950 companies based on the island and over 43,000 people employed in the sector . n
8 | sheetmetalplus . com | ISMR February 2022