Page 10 - ITA Journal 3-2018

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Market information
Fig. 4: Global Construction Output 2017 versus 2021 Source: Construction Intelligence Center, June 27, 2018.
Brazil (+ 16 %), India (+ 10 %) and China (+ 6 %). Since pipe usage intensity for cars is growing in parallel, the automotive market remains an attractive market segment for pipe producers.
The tube and pipe market for the building and construction indus- try is smaller but nonetheless attractive.
A recently released report, Global Construction 2030, forecasts the volume of construction output will grow by 85 % to $ 15.5 tril- lion worldwide by 2030, with three countries, China, the US and India, leading the way and accounting for 57 % of the global growth. The benchmark global study, put together by Global Con- struction Perspectives and Oxford Economics, predicts average global construction growth of 3.9 %
a year to 2030, outpacing that of global GDP by over 1 percentage point.
The report says growth will be largely driven by developed coun- tries recovering from economic instability and emerging countries continuing to industrialize.
These market trends cannot fail to make their mark on global steel tube production.
In the second quarter of 2018, world steel tube production was once again dominated by China (56 %), followed by other/ROW (15 %) (Fig. 5). Following 2 years of shrinking production China’s market share stabilized at 56 % in 2018.
In 2014, oil and gas markets were ooded by shale gas products. In the second half of 2014, oil prices fell steeply from 110 US$/barrel, bottoming out at around 30 US$ in early 2016. Subsequently, they recovered overall somewhat,
Fig. 5: Global steel tube production by region, Q2 2018 Source: ITAtube Journal/Wirtschaftsvereinigung Stahlrohre e.V.
ITAtube Journal No3/October 2018