The coming years promise acceleration for the metals industry both here in New Zealand and globally.
In 2024, The Business Research Company forecast a compound annual growth rate of c. 6% for the global metals market through 2025.
Increased urbanisation is fuelling a global construction boom – one that requires quality raw materials, supply chain transparency, and waste management effectiveness.
This trend is being supported by new AI tools, which provide new opportunities to quickly and cost-efficiently scope and plan work.
So too is the recycled metal global market continuing to grow as government regulations and private and public interests align in the promotion and pursuit of a circular economy model.
With international concerns over resource scarcity and an increased focus on economic viability and green building practises, the circular economy model is an idea whose time has well and truly come.
What does that mean for our work here in New Zealand? Quite simply, we are on the right track. There are big projects, that after years of hard work behind the scenes, are now reaching fruition. New Zealand Steel’s electric arc furnace will fundamentally change how scrap metal is recycled in this country.
We have the necessary vision from key industry leaders to make this change effective, and, most importantly, enduring.
While there is still much to do, our collective will for change positions the metals sector for a growth-focused future.