The European pipes and fittings industry is a large, mature and competitive business. In 1995, the total market amounted to 22.2 million tonnes and was worth $27.18 billion. The market had seen growth of 3.8 per cent in that year, following on from 9.1 per cent growth in 1994, although these apparently impressive figures really amounted only to a recovery from several years of declining sales during the recession of 1991 to 1993, when investment had been very low. Although the pipes industry is mature, it has the potential for continued growth, albeit at a very low level. In the forecast period from 1996 to 2002, growth is projected to be between 1.1 and 2 per cent in each year, with a compound annual growth rate over the seven-year period of 1.5 per cent. Unit growth trends will be similar, as prices are not expected to increase significantly above or below the rate of inflation.
展开▼
