Steel Tube Institute Identifies Market Changes Driven by Reshoring, Commercial Building Trends

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Nov 14, 2023, 08:19 ET

The Organization Plans to Shift 2024 Priorities in Response to Demand

CHICAGO, Nov. 14, 2023 /PRNewswire/ -- The Steel Tube Institute (STI), an organization that brings together key producers in the steel industry to advance the use of steel tubing, announced a shift in the organization's priorities for 2024 to reflect current trends in commercial construction. These trends indicate increasing demand for buildings that support the distribution industry, data centers, chips and battery plants and healthcare facilities. The STI leadership determined to focus on producing resources that speak to the use of steel conduit in the aforementioned industries during its Annual Meeting, held August 8-10 in Chicago.

During the Annual Meeting, STI also reaffirmed its commitment to encouraging the production of American-made steel conduit and American jobs by supporting and promoting reshoring of steel conduit production and appropriate infrastructure spending.

In the past decade, the need for new office buildings and hospitality facilities has slowed while the demand for data centers, in particular, is growing exponentially. Executive Director of Steel Tube Institute Dale Crawford said distribution and data centers, chip and battery plants and healthcare facilities require more and larger steel conduit than office buildings and hospitality facilities, and STI members are prepared to respond.

"American steel conduit manufacturers produce the highest quality steel tube products in the world," Crawford said. "Our members are proud to support the country's infrastructure needs in the booming logistics, IT and healthcare industries with safe, sustainable steel conduit."

Global renewable energy capacity needs will require production to double by 2030, according to the International Energy Agency (IEA). In addition, several key federal policies driving steel demand are the Infrastructure Investment and Jobs Act (IIJA), the Inflation Reduction Act (IRA), and the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) Act.

To learn more about the Steel Tube Institute, its mission and vision, visit www.SteelTubeInstitute.org.

About Steel Tube Institute
The Steel Tube Institute was formed in 1930 when a group of manufacturers joined forces to promote and market steel tubing. Their goal was to mount a cooperative effort to improve manufacturing techniques and inform customers about their products' utility, versatility and competitive advantages. This, along with providing a forum for the discussion of issues impacting the industry, remains the focus of Steel Tube Institute's efforts. Learn more at www.SteelTubeInstitute.org and visit Steel Tube Institute on Linkedin.

Media Contact:
Natasha Sadek-Saleh
(862) 684 3344
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SOURCE Steel Tube Institute