Sandvik Materials Technology
Sandvik Materials Technology was back on track in 2018, with improved revenues and operating margins. This resulted from cost and efficiency measures, along with higher market demand for the business area’s world-leading metallurgy and application knowledge.
Business area Sandvik Materials Technology develops and manufactures products made from advanced stainless steels and special alloys. The business area produces tubular products, metal powder, strip and products for industrial heating. Its customers come from a variety of industries including the energy, automotive, aerospace and engineering sectors, and rely on Sandvik for products, solutions and support in demanding applications.
Market 2018
2018 was a strong year for Sandvik Materials Technology with a rise in demand for products such as heating systems and tubes. High nickel prices contributed to the positive effect on our profit, as did an upturn in the oil and gas industry, which is the largest customer segment. The business area continued to benefit from the global trend towards more sustainable solutions with demand for our products, materials and competence to help customers improve energy efficiency. This includes renewable power generation and digital monitoring solutions, like Sentusys™ Intelligent Tube System. We continued to face fierce competition from China, and challenges from US import duties, but our strong production footprint in the US and our specialized products put us in a favorable position.