(MENAFN- OZON Marketing) Dubai, United Arab Emirates, January 12, 2022: In the wake of the exponential post-pandemic growth opportunity in global wire, cable and tubes market, Middle Eastern companies looking to increase exports have confirmed robust participation at the world’s leading twin trade fair, Wire and Tube 2022, a senior official of Messe Dusseldorf, the event organizer, said.
The fair at Dusseldorf, Germany from May 9-13, is being organized at a time when various reports indicate that the global market for wires and cables at over US$ 330 billion in 2021 is estimated to grow to over US$420 billion by 2026, at a CAGR of 5 per cent.
“We are seeing a new robustness in the participation of companies at the show this year, indicating anticipation of a growth surge in this sector. We are honoured that our regional exhibitors include the Ducab Metals Business (DMB), part of the UAE’s homegrown global leader, Ducab,” said Mr. Daniel Ryfisch, Project Director, Messe Dusseldorf.
Addressing a press conference along with Mr. Mohamed Al Ahmedi, CEO, Ducab Metals Business, Mr. Ryfisch said, 148 companies from the Middle East region are taking part at the world’s leading exhibitions for wire, cables and pipes - mainly from the UAE, Israel, Egypt, Iran, Turkey and Jordan.
“Our participation will reinforce our market reputation as a leading global player in the energy raw materials industry. This will also support expansion and diversification of our metals business. Currently, we export to 45 countries and our aim is to increase our overseas market footprints further,” said Mr. Al Ahmedi.
DMB exports 7o per cent of its output, and in 2020 it clocked revenue of US$ 1 billion and it is expected to be at US$ 1.5 billion in the financial year 2021, despite the challenges of the pandemic. New export markets targeted by DMB includes Europe, Africa and the US while the group continues to service the GCC markets including, the UAE, the UK and Australia,
Elaborating on the company’s business growth, Mr. Al Ahmedi said DMB turned the pandemic in 2020 and 2021 into an opportunity benefiting from the strong infrastructure in the UAE.
“We also had the advantage since the UAE managed the pandemic with prudence and perfection. The ports in UAE were operating, so were our factories, making us capable to cater to our export markets. We also strengthened our relations with our supply chain partners making production and exports run seamlessly,” he added.
Mr. Ryfisch said Middle Eastern companies have taken up a cumulative exhibition space of 9,567 sq. m this year, nearly 15 per cent more than that of the last pre-pandemic Wire & Tube 2018. “The Middle East region is also very important for us in terms of visitors – in 2018, we had 2,484 trade visitors from the region, which was 6 per cent of the total visitors. From a global industry perspective, the Middle East is a dynamic, modern and powerful region,” said Mr. Ryfisch.
“As a partner to Messe Dusseldorf in creating awareness on the Wire & Tube 2022 in the Middle East, we are confident that many more companies from the region will join the twin expos considering the growth opportunity in this key industrial sector. We will be joining hands with Messe Dusseldorf for more shows in the future as well,” said Rajesh Nair, Project Director, Verifair.
The shows will also have a sustainability focus, termed green transformation, and that will fit in line with the shift towards climate neutrality, electric mobility and green hydrogen.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.