The global demand for UPR increased by 4.1% in Q1 2022 from Q4 2021. The UPR demand that increased in this quarter was mainly driven by an increase in end use industries such as pipe & tank, wind installation, and construction activities globally. The UPR price increased by more than 2% in Q1 2022 as compared to Q4 2021. UPR price increase was mainly due to increase in raw material prices resulting from supply chain disruption.
In Q2 2022, the global demand for UPR is forecast to increase by 3.1% from Q1 2022. The second 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 forecast to increase by ~3.0% in Q2 2022. The figure below depicts the change in demand and the price of UPR over the past five quarters. Data also provides forecasts for Q2 of 2022 as below.
Source: Lucintel
Figure: Global Quarterly Change in UPR Shipment and Price Trends
North America
In Q1 2022, the North American UPR market increased as compared to Q4 2021, and it is expected to maintain the pace in Q2 2022 as well. UPR demand increased mainly due to growth reported by the pipe market, wind energy market, automotive industry, and construction industry. Light vehicle sales in North America increased by 1% in Q1 2022 compared to Q4 2021.The North American UPR market is expected to grow further with growth in major end use industries such as marine, pipe, and wind markets.
Europe
In Q1 2022, the demand for UPR in Europe increased as compared to Q4 2021 and this demand growth is expected to continue in Q2 2022. The UPR demand will increase in Q2 2022 due to rise in demand from major end use industries, such as pipe& tank, marine, and wind.
APAC
In Asia, the UPR demand increased in Q1 2022 as compared to Q4 2021 and this is expected to be maintained in Q2 2022 as well. Growth in drilling, construction activities, and pipe & tank industry has driven the UPR demand in this region. In Q1 2022, UPR price increased and it is also expected to increase in next quarter due to high raw material price and stronger supply chain disruptions.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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