Yorkshire, UK – The global demand for Armco barriers is expected to rise towards the end of 2023, but industry experts predict that prices for the safety product will stabilize in 2024.
According to several reports, the price of steel – the core material used in the construction of Armco barriers – is set to stabilize in the coming year. This will have a positive impact on the cost of Armco barriers, according to Chris Caunce, founder of CT Safety Barriers.
Unlike many competitors, CT Safety Barriers has a unique advantage as they manufacture Armco barriers on-site in their purpose-built facility. While this allows for greater control over the sourcing of raw materials, fluctuations in steel prices can still affect the final price of the product. However, Caunce assures customers that they have made every effort to keep prices competitive and are now seeing a stabilization in steel prices.
“We predict that the price of Armco barriers in 2024 will stabilize,” says Caunce.
Industry predictions also support this outlook, with Flitch Ratings forecasting neutral global demand for steel and Oxford Economics predicting low demand with an increase in supply. This trend is expected to result in stable steel prices, which will benefit Armco barrier producers and their customers.
However, Caunce also notes that there are some factors that could push steel prices up in 2024, such as high energy prices in Europe and weather disruptions.
Despite potential fluctuations in steel prices, CT Safety Barriers saw a significant increase in demand for Armco barriers towards the end of 2023. This was reflected in the rise in UK searches for the product, which saw a 24% increase in October, a 51% increase in November, and a 26% increase in December compared to the previous year.
According to Statista, steel prices in the UK have been rapidly rising since 2017. Between 2020 and 2022, prices increased by 93.3% due to supply chain disruptions, drops in production, energy price hikes, and increases in iron ore prices.
Established in 2009 by Founder and Managing Director Chris Caunce, CT Safety Barriers has grown from a small manufacturer to a leading supplier of safety products in the UK. Their purpose-built manufacturing facility in Yorkshire produces a range of British-made safety products, including Armco barriers, bollards, warehouse protection systems, and safety handrails. The company also offers installation services for all of their products.
In 2021, CT Safety Barriers became a proud member of the Made In Britain manufacturing community.
For those interested in obtaining a more accurate quote for Armco barriers tailored to their specific requirements, CT Safety Barriers encourages them to visit their website and submit a request. The company guarantees a response within one working day.
This news story was distributed by Pressat, a UK-based press release distribution service.
