The EU steel tube sector is expected to see a 2% decline in output in 2024, following a milder-than-projected 1.5% drop in 2023. This downturn reflects a widespread recession affecting major EU steel-using industries, including construction, mechanical engineering, and automotive. The sector is anticipated to experience moderate growth of 0.8% in 2025.

The ongoing war-related disruptions and supply chain issues, along with the energy crisis, have significantly impacted investment in the sector, particularly in pipeline projects. Demand from the oil and gas sector is not expected to improve significantly in the short term due to geopolitical uncertainty and a weak economic outlook.