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2021 was a year
of recovery from the worst impact of the Covid-19 pandemic.
Because national policies, sectoral exposure, and stimulus largely determine how well countries weather storms, the economic rebound is geographically uneven
.
The global wire and cable industry also reflects these trends
.
Overall, the wire and cable industry has shown its resilience
as supply constraints ease and demand applications recover.
Throughout 2021, global cable demand continued to recover, and the overall wire and cable demand achieved a 5.
5% growth
.
The UK's commodity research institute CRU said that despite inflation and rising interest rates, this recovery is expected to continue throughout 2022, with demand growth expected to be around
4%.
As of February 2022, more than 10 billion Covid-19 vaccines have been administered globally
.
Undoubtedly, this has greatly helped the wire and cable value chain to return to normal
.
By the end of 2021, the total global consumption of insulated metal wires and cables has exceeded the level
of 2019.
In terms of commodities, 2021 was one of
the most volatile on record.
Copper and aluminum prices both soared about 50%
year-on-year.
Tight supply, low inventory levels, an energy crisis and a strong recovery in demand are among the
factors that contribute to higher prices.
Higher commodity prices have also led to higher cable prices
.
From the perspective of cable type, automobile production in 2021 increased moderately, and the absolute level is still far below the level
of 2019.
This is mainly due to supply bottlenecks
such as semiconductor shortages.
However, sales of cable-intensive electric vehicles have almost doubled compared to 2020, resulting in strong
demand for winding wires.
Chinese infrastructure projects will improve LVE cable demand: The crisis in China's real estate market made the "headlines"
in the second half of 2021.
Nevertheless, floor completions increased by 11% year-on-year, supporting LVE cable demand
.
However, CRU believes that the growth of demand for LVE cables in the Chinese market is expected to slow down
by 2024.
2021 was a year
of recovery from the worst impact of the Covid-19 pandemic.
Because national policies, sectoral exposure, and stimulus largely determine how well countries weather storms, the economic rebound is geographically uneven
.
The global wire and cable industry also reflects these trends
.
Overall, the wire and cable industry has shown its resilience
as supply constraints ease and demand applications recover.
Throughout 2021, global cable demand continued to recover, and the overall wire and cable demand achieved a 5.
5% growth
.
The UK's commodity research institute CRU said that despite inflation and rising interest rates, this recovery is expected to continue throughout 2022, with demand growth expected to be around
4%.
As of February 2022, more than 10 billion Covid-19 vaccines have been administered globally
.
Undoubtedly, this has greatly helped the wire and cable value chain to return to normal
.
By the end of 2021, the total global consumption of insulated metal wires and cables has exceeded the level
of 2019.
In terms of commodities, 2021 was one of
the most volatile on record.
Copper and aluminum prices both soared about 50%
year-on-year.
Tight supply, low inventory levels, an energy crisis and a strong recovery in demand are among the
factors that contribute to higher prices.
Higher commodity prices have also led to higher cable prices
.
From the perspective of cable type, automobile production in 2021 increased moderately, and the absolute level is still far below the level
of 2019.
This is mainly due to supply bottlenecks
such as semiconductor shortages.
However, sales of cable-intensive electric vehicles have almost doubled compared to 2020, resulting in strong
demand for winding wires.
Chinese infrastructure projects will improve LVE cable demand: The crisis in China's real estate market made the "headlines"
in the second half of 2021.
Nevertheless, floor completions increased by 11% year-on-year, supporting LVE cable demand
.
However, CRU believes that the growth of demand for LVE cables in the Chinese market is expected to slow down
by 2024.
