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A few days ago, the British commodity research institute CRU issued an announcement that the global metal insulated cable market will face increasing pressure this year, mainly because of the slowdown in the growth of the terminal application market and the intensification
of trade tensions.
Therefore, CRU lowered the growth forecast of metal insulated cables in 2019 to 1.
8%, which is about 19.
2 million tons in terms of conductor weight.
From the perspective of market area, the sharp decline in the European automotive industry is the main factor
affecting the growth of demand in the European market.
In addition, China's slowing economic growth and intensifying trade war are affecting demand growth
in major cable markets around the world.
On the other hand, the rapid growth of emerging economies such as India and Africa will also have a positive impact
in the medium term.
From the perspective of the end-use industry, the transportation industry grew the slowest last year and is expected to remain weak
in 2019 and beyond.
Pryssmann's successful acquisition of General Cable further cemented its position as the world's top cable manufacturer and the only company with cable revenue exceeding $10 billion in 2018
.
From the perspective of raw materials, CRU expects that the average price of copper and aluminum this year will be lower than in 2018, further dragging down the total market value
of global wires and cables.
In the medium term, CRU expects global demand for metal-insulated wires and cables to grow at a CAGR of 2.
5% between 2018 and 2023 to reach 21.
3 million tonnes (by conductor weight) by 2023, compared to a CAGR of 2.
9%
from 2013 to 2018.
A few days ago, the British commodity research institute CRU issued an announcement that the global metal insulated cable market will face increasing pressure this year, mainly because of the slowdown in the growth of the terminal application market and the intensification
of trade tensions.
Therefore, CRU lowered the growth forecast of metal insulated cables in 2019 to 1.
8%, which is about 19.
2 million tons in terms of conductor weight.
From the perspective of market area, the sharp decline in the European automotive industry is the main factor
affecting the growth of demand in the European market.
In addition, China's slowing economic growth and intensifying trade war are affecting demand growth
in major cable markets around the world.
On the other hand, the rapid growth of emerging economies such as India and Africa will also have a positive impact
in the medium term.
From the perspective of the end-use industry, the transportation industry grew the slowest last year and is expected to remain weak
in 2019 and beyond.
Pryssmann's successful acquisition of General Cable further cemented its position as the world's top cable manufacturer and the only company with cable revenue exceeding $10 billion in 2018
.
From the perspective of raw materials, CRU expects that the average price of copper and aluminum this year will be lower than in 2018, further dragging down the total market value
of global wires and cables.
In the medium term, CRU expects global demand for metal-insulated wires and cables to grow at a CAGR of 2.
5% between 2018 and 2023 to reach 21.
3 million tonnes (by conductor weight) by 2023, compared to a CAGR of 2.
9%
from 2013 to 2018.
