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reached 7% (target 2%). This is the biggest increase since June 1992. The US central bank is now planning to restrict its loose monetary policy.
Even in Europe inflation rate has reached 5% by the end of 2021. Great Britain reached some 5,4% by 2021. Since the infla- tion seems not to calm down as the 2022 figures show, countermeasures need to
be taken by central banks to prompt such galloping inflation.
In general, there is enough production capacity to serve even the increased demand for tubes and pipes for all market segments. Raw material prices for the steel as well as the tube and pipe industry would seem to have peaked by the end of 2021.
Energy costs, however, remain high and climb even further since market interven- tions (e.g. OPEC plus) and warlike actions call free world trade into question. Further challenge may be imposed, if political measures to prevent climate change are not introduced in a balanced way. These effects may also push inflation rates still higher, with possible consequences being the migration of high energy consuming industries to lower-cost regions. Nonethe- less, if the balance of supply and demand within the tubes and pipes industry can be restored, price volatility can be expected to calm down.
Tube plant infrastructure with respect to tube mills and finishing lines as well as applied quality assurance systems also plays a significant role. Growing importance can be attributed to agile management strategies regarding customer benefit, process and product quality enhancement as well as purchasing processes by applying “Industry 4.0” measures.
With an eye to the return to something
like normal, it should be noted that plant builders and technology suppliers alike may find interesting business opportunities in this new market segment. Some tech- nology suppliers have already reacted and enhanced their product portfolio with the addition of digital solutions.
ITAtube Journal April 2022
The International Tube Association organized several well attended webinars in 2020 and 2021 to keep the exchange within our indus- try ongoing. Some interesting applications of “Industry 4.0” in the tube and pipe industry were presented by various companies at the ITA netForum which was organized to substitute the cancelled TUBE 2020 in Düssel- dorf. August 2021 new technologies for the application of pipelines for hydrogen were successfully presented at the webinar organ- ized by the ITA Indian chapter. The event was well attended by many colleagues from the tube and pipe industry.
It is good to realize, that besides the virtual exchange in our industry, such as the webi- nars organized by the International Tube Association (ITA) now again hybrid or even personal events for industrial exchange take place.
We are looking forward meeting tube pro- ducers as well as suppliers to the tube and pipe industry at our world largest tube and pipe show “Tube Düsseldorf 2022” which takes place from June 20th to 24th 2022.
Dr. Gunther Voswinckel
Market information
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