UPDATED PRICES ON INSULATED PANELS IN OCTOBER 2021
In this blog post, we will continue to talk about the insulated panel’s price update in 2021. Firstly, we will shed light on the factors that have contributed to the price increase of insulated panels in October 2021. Secondly, we will share our suggestions for retailers that are looking for good deals right now. We were all waiting for good news on the price trends of insulated metal panels in October 2021. Once again, deception has come.
THE REASONS THAT HAVE CONTRIBUTED TO THE PRICE INCREASE OF INSULATED METAL PANELS
Let’s see in detail what factors are influencing the price increase for insulated metal panels so that we know what to expect from the near future:
- Steel sheet: needless to say, steel manufacturing concentration worldwide in the last decades has created impressive scale economies but created less competition on the market. With demand on the rise from most countries globally and a few bottlenecks, we expect neither steel price to go down nor its availability to increase. The price trend is upwards.
- PIR and PUR foam, like many other chemicals, come from oil, which price is increasing quickly. Let’s mention that the MDI component, which is necessary to make PUR and even more to make PIR, has been growing scarce since last April. All the above factors have joined an increased demand for thermal insulation that has saturated the production plants around the world. The price trend is upwards.
- Road shipping: disruption often happens due to the increased demand and the low availability of trucks because the Covid-19 pandemics forced companies to reduce their fleet size in 2020.
- Marine shipping: we all know that the last six months have seen significant disruption in the world’s ports that caused shipping prices to grow 15-folds. Forecasts are dire, as container demand is still soaring, and it seems that the situation will last until mid-2022, analysts say.
WHAT ARE OUR SUGGESTIONS FOR RETAILERS AND CONTRACTORS LOOKING FOR GOOD DEALS RIGHT NOW?
First, don’t believe this situation will end soon. The demand for insulated metal panels, like many other products, is steadily high, and as production and shipping fall behind, prices will grow higher.
Second, remember that we have just entered the last quarter of 2021, and corporations are willing to spend their budget and finish their projects, so we expect demand to peak in the next 60 days. Be prepared.
Second, remember that we have just entered the last quarter of 2021, and corporations are willing to spend their budget and finish their projects, so we expect demand to peak in the next 60 days. Be prepared.
GET IN TOUCH WITH US
If you have any questions about the insulated panels price update, please contact us and we will gladly answer them. You can reach us by calling +44 7887 884768 or filling out the form below. You can also reach out to us by emailing sales@globepanels.com. When you contact us, we can provide you with an estimate and explain our products and services in greater detail.
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