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The UK's commodity research institute CRU expects global consumption of insulated metal wires and cables to grow by more than 5% year-on-year in 2021, despite the agency's recent downward revision
of its full-year demand forecast.
CRU said the downward revision to its full-year demand forecast was mainly due to weaker
demand in China, one of the largest consumer markets.
At the same time, due to the long-term shortage of semiconductors, global automotive cable demand also showed a weakening trend in the second half of this year
.
For 2022, CRU forecasts that total cable demand will again grow at a healthy rate above historical averages, as many countries and regions still have room to make up for losses
during the pandemic.
Regarding the medium-term forecast for the next five years, CRU believes that in addition to the demand drivers in China and North America, emerging markets and green energy development will be increasingly important drivers for cable demand growth in 2022-2026
.
The UK's commodity research institute CRU expects global consumption of insulated metal wires and cables to grow by more than 5% year-on-year in 2021, despite the agency's recent downward revision
of its full-year demand forecast.
CRU said the downward revision to its full-year demand forecast was mainly due to weaker
demand in China, one of the largest consumer markets.
At the same time, due to the long-term shortage of semiconductors, global automotive cable demand also showed a weakening trend in the second half of this year
.
For 2022, CRU forecasts that total cable demand will again grow at a healthy rate above historical averages, as many countries and regions still have room to make up for losses
during the pandemic.
Regarding the medium-term forecast for the next five years, CRU believes that in addition to the demand drivers in China and North America, emerging markets and green energy development will be increasingly important drivers for cable demand growth in 2022-2026
.
