Page 43 - Steel Tech India eMagazine Volume April 2022

VOL. 16 • NO. 3 • April 2022

main driver for the recovery of the construction sector. 2021 and is expected to continue its growth in 2022-23.
Residential construction might also get some small New energy vehicles production jumped by 1.6 times to
support from stimulus measures. 3.55 million units, accounting for 13.6% of total vehicles

In India, infrastructure in four key areas – national production in 2021.
highways, railways, water infrastructure & government
housing will remain the main driver of construction the recovery in US auto production in 2021 was also
growth. New projects in the residential real estate severely dampened by supply chain problems. In 2022-
segment are also expected to gather pace. In Brazil, 23, pent-up demand is expected to drive the production
after robust growth in 2021, the construction sector of light vehicles.
is expected to report moderate growth in 2022 due to
the monetary tightening cycle and the US interest rate While global auto production slumped due to the
hikes. pandemic, the eV segment grew exponentially. Global
sales of eVs in 2021 reached 6.6 million units, almost
A strong rebound in energy prices significantly improves
the prospects of the construction sector in oil exporters. doubling from 2020. the share of eVs in total car sales
In the Gcc, construction activities are expected to increased from 2.49% in 2019 to 8.57% in 2021. the
accelerate with the resumption of construction projects trend is driven by toughening government regulations
that will be further boosted by relaxing budget pressures against car emissions and will impact other sectors,
and easing of cOVID-19 related restrictions. including the development of relevant infrastructure.

Automotive
Table 1: Steel demand forecasts: SRO April 2022, finished steel products
the recovery of the global
Million Y-o-Y growth
auto industry in 2021 was tonnes rates,%
disappointing as supply Regions 2021 2022(f) 2023 (f) 2021 2022 (f) 2023 (f)
chain bottlenecks reversed European Union (27) & UK 163.6 161.5 167.9 16.8 -1.3 4.0
Other Europe 40.2 42.3 44.1 12.0 5.2 4.2
the strong momentum seen Russia & Other CIS + Ukrane 58.5 44.6 45.1 1.5 -23.6 1.1
in the first half of the year. USMCA 136.9 141.0 144.7 20.5 2.9 2.7
Auto production contracted Central and South America 50.7 48.5 50.3 30.7 -4.4 3.9
Africa 37.4 39.1 40.7 6.4 4.6 4.2
in the second half of 2021
Middle East 48.3 50.2 51.7 2.9 3.8 3.2
in most countries, and Asia and Oceania 1298.1 1313.1 1336.8 -1.4 1.2 1.8
global auto production World 1833.7 1840.2 1881.4 2.7 0.4 2.2
ended the year with only f - forecast
marginal growth. Supply Table 2: Top 10 steel-using countries 2021: SRO April 2022, finished steel
chain problems also led to products
reduced choice for buyers
Million Y-o-Y growth
and increased prices. It tonnes rates,%
had been expected that the Countries 2021 2022(f) 2023 (f) 2021 2022 (f) 2023 (f)
supply bottlenecks would China 952.0 952.0 961.6 -5.4 0.0 1.0
India 106.1 114.1 120.9 18.8 7.5 6.0
dissipate in the second United States 97.1 99.8 102.1 21.3 2.8 2.4
half of 2022. however, the Japan 57.5 58.2 58.8 9.3 1.2 1.0
war in Ukraine is likely to South Korea 55.6 56.2 56.8 13.5 1.2 1.0
Russia 43.9 35.1 35.1 3.8 -20.0 0.0
delay any return to normal,
Germany 35.2 35.0 37.6 12.9 -0.6 7.6
especially in europe. Turkey 33.4 35.5 37.0 13.2 6.4 4.2
Brazil 26.4 24.2 25.4 23.2 -8.5 5.0
In china, automobile Italy 25.9 25.4 26.3 27.1 -2.1 3.5
production grew by 4.8% in f - forecast

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