Despitereports of turbulence in construction markets, a new industry report predictsthat building work will provide the single greatest demand for steel suppliersin the years to come.
According tothe study, from independent market analyst Visiongain, construction will keepsteel suppliers busiest throughout the end of 2012.
Followingbehind it will be automotive manufacture, and machinery, two industriesexpected to stay significant to the steel sector for the next decade.
“Theseaforementioned three sectors will remain the leading end-use sectors during theforecast period [from 2012 to 2022],” says the report’s author.
Whileacknowledging some of the economic shocks taking place around the world – suchas stagnation in developed economies and slowing GDP growth in China and India- the report does not anticipate decline in steel.
Instead, itforecasts continued growth at only a “slightly” smaller rate, withthe debt crisis in certain EU markets having an impact on this.
Within theUK, it remains to be seen how the steel sector will perform in the years tocome, but with some early signs of a return to growth in infrastructureconstruction, there are bright spots to be found already.