The global demand for UPR increased by 3.2% in Q4 2021 from Q3 2021. The UPR demand increased in this quarter mainly driven by an increase in end use industries such as automotive, aerospace, pipe & tank, and construction activities globally. The UPR price, on an average, increased about more than 5% in Q4 2021 as compared to Q3 2021. UPR price increase was mainly due to increase in raw material prices resulting from supply chain disruption.
In Q1 2022, the global demand for UPR is forecasted to increase by 1.4% from Q4 2021. The first quarter of 2022 result will be influenced by an increase in demand from various industries, such as pipe, tanks, marine, consumer goods, wind, and others. Global UPR price is forecasted to increase by ~2.6% in Q1 2022. The figure below depicts the change in demand and the price of UPR over the past five quarters and one forecast quarter.
Source: Lucintel
Figure: Global Quarterly Change in UPR Shipment and Price Trends
North America
In Q4 2021, the North American UPR market increased as compared to Q3 2021, and it is expected to maintain the pace in Q1 2022 as well. UPR demand increased mainly due to growth reported by the pipe market, automotive industry, construction industry, and aircraft delivery. The North American UPR market is expected to grow further with growth in major end use industries like marine, pipe, and wind markets.
Europe
In Q4 2021, the demand for UPR in Europe increased as compared to Q3 2021 and this demand growth is expected to continue in Q1 2022. Growth in automotive and construction activities has driven the UPR demand in Europe. Light vehicle sales in Europe increased by 18% in Q4 2021 compared to Q3 2021. European countries like France registered 0.04 million units of privately owned housing starts in Q4 2021, this is 41% increase as compared to Q3 2021. The UPR demand will increase in Q1 2022 due to rise in demand from major end use industries, such as pipe, marine, PCB, and construction.
APAC
In Asia, the UPR demand increased in Q4 2021 as compared to Q3 2021 and this is expected to be maintained in Q1 2022 as well. Growth in automotive, drilling and construction activities has driven the UPR demand in this region. Light vehicle sales in APAC increased by 27% in Q4 2021 from Q3 2021, electrical & electronics industries have also put positive impact on UPR growth, E&E industry witnessed growth due to revival of the Chinese market.
