Industrial Gases Segment Wary Over MEA Steel Outlook: SteelFab2012

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SteelFab 2012, the biggest trade show in Middle East & Africa region has just begun with the hope to bring rightness in the regional steel fabrication industry of the region. Highlights say Core segments will contribute a lot in upcoming steel fabrication industry. Strong crude prices along with recovering economic will support GCC countries to go ahead with their nearly US$ 2 trillion worth of infrastructure projects. Regional Steel & Metal industry still fuels the whole economy growth rates. Unfortunately increase in raw material prices and the continued Euro-zone crisis will increase costs and obstruct European-funded projects — making 2012 a hard year for the steel industry, exhibitors at the SteelFab show said yesterday.

From Industrial Gases Prospective

In the industrial gases segment, commercially manufactures gases sold for hospitals, aviation and military applications. Rising oil prices will be a major obstacle, according to the representative of Emirates Industrial Gases Company present at SteelFab2012. Rising oil prices has increased the cost of transportation, operating the factories and electricity. Ultimately costs to the sector will go up. Apart from this, the sector is expected to grow with 25% robust rate because of huge demands from military, oil & gas & medical requirements. Industrial gases such as oxygen are mostly used in hospitals or medical purposes whereas nitrogen for planes, and to cool steel sheets.

The manufacturing sector is one of the key contributors to the UAE GDP index, the construction and aviation sectors and other major road, tourism and housing projects are also offering exceptional growth prospects for the industry. The labour-intensive manufacturing in the MEA has seen a plodding transfer to computerization in process, with material handling being at the front of this change. Optimistic growth projected in the future as contd.

SteelFab 2012 is followed by technical seminars on January 10 and 11, which  planned in such a way to tackle key topics from welding and cutting to materials handling and dust collection. SteelFab 2012 is organized by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry and is open to trade visitors from 10 am to 7pm.

Checkout more at SteelFab2012 website

News Courtesy: Gulf News & SteelFab


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