Yorkshire, UK – The demand for Armco barriers has been on the rise towards the end of 2023, but there is good news for customers as the price of these safety barriers is expected to stabilize in 2024.
According to various reports, steel prices – the core material used in the construction of Armco barriers – are predicted to stabilize, providing relief for customers and manufacturers alike.
Chris Caunce, founder of CT Safety Barriers, explains, “Unlike many of our competitors, CT Safety Barriers manufactures Armco barriers on-site in a purpose-built facility. While this gives us greater control over the sourcing of raw materials such as steel, we do see fluctuations in the prices of those materials. And this can impact the final price for Armco barriers.”
He continues, “Although we made every effort to absorb material increases, in order to keep prices as low and competitive as possible, we saw prices vary in 2023. Fortunately, after a few years of fluctuations in the price of steel, we are seeing prices starting to settle. We predict that the price of Armco barriers in 2024 will stabilize.”
The view from CT Safety Barriers is supported by several key industry predictions on steel prices. According to Flitch Ratings, the global outlook for steel will be neutral with single-digit growth in demand and some drops in both production and consumption. Similarly, Oxford Economics predicts low demand for steel with supply increasing, resulting in a weak market. This is good news for Armco barrier manufacturers and their customers as it should see a levelling of steel prices.
However, there are factors to watch out for that could potentially push prices up, such as high energy prices in Europe and weather disruptions, claims Oxford Economics.
Despite the fluctuations in steel prices, demand for Armco barriers has been steadily increasing. CT Safety Barriers saw a rise in demand for these barriers towards the end of 2023, which was mirrored in a rise in UK searches for the product. In October 2023, search volume for ‘Armco barriers’ was up 24% year-on-year, followed by a 51% increase in November and a 26% increase in December.
Steel prices in the UK have been rapidly growing in recent years. According to Statista, between 2020 and 2022, prices rose by 93.3%. This was due to supply chain disruptions, a drop in production, rises in energy prices, 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 force in safety product manufacturing and supply in the UK. Their purpose-built facility in Yorkshire produces a range of British-made safety products including Armco barriers, bollards, warehouse protection systems, and safety handrails. They also offer installation services for all their products.
In 2021, CT Safety became a proud member of the Made In Britain manufacturing community. Customers looking for more exact Armco barrier prices tailored to their own requirements can simply visit the company’s Armco barriers page and provide their specifications. A cost estimate will be provided within one working day.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.