The global demand for UPR decreased by 8.7% in Q2 2022 from Q1 2022. The UPR demand declined due to very poor demand from the end use industries, such as pipes & tanks, wind installation, and construction. The market is weak so the demand is weak. The UPR price increased by more than 10% in Q2 2022 as compared to Q1 2022, mainly driven by increased raw material price which was impacted by high crude oil price.
In Q3 2022, the global demand for UPR is forecast to decrease by 6.5% from Q2 2022. The demand in Q3 of 2022 will be influenced by low demand from various industries, such as marine, wind, and others. Globally, UPR price is forecast to decrease by 7.7% in Q3 2022 due to poor demand. Another main reason for UPR price decline will be reduction in crude oil price due to the reduction in the impact of Ukraine crisis. The figure below depicts the change in demand and the price of UPR over the past five quarters. The data also provides forecast for Q3 of 2022 as below.
Source: Lucintel
Figure: Global Quarterly Change in UPR Shipment and Price Trends
North America
In Q2 2022, the North American UPR market decreased as compared to Q1 2022, and it is expected to decrease in Q3 2022 as well. UPR demand decreased mainly due to decreased demand from the pipe market, the wind energy market, the automotive industry, and the construction industry. The North American UPR market is expected to decline further with low demand in major end use industries, including marine, wind markets, construction, and others.
Europe
In Q2 2022, the demand for UPR in Europe decreased as compared to Q1 2022, and this demand is expected to continue declining in Q3 2022 as well. The UPR demand will decrease in Q3 2022 due to low demand from major end use industries, such as marine, automotive, and wind. In Q2 2022, the UPR price increased in this region due to a tight market situation and high crude oil price.
APAC
In Asia, the UPR demand decreased in Q2 2022 as compared to Q1 2022, and this is expected to continue in Q3 2022 as well. Low demand in drilling, construction activities, wind, and automotive industries is the main reason for the declining UPR demand in this region. In Q2 2022, UPR price increased 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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