The UK’s forecasted sold production of steel tubes and pipes of non-circular cross-section and hollow profiles is set to decline from €140.92 million in 2024 to €123.2 million by 2028. Analyzing year-on-year percentage changes, this indicates consistent decreases: -3.2% from 2024 to 2025, -3.3% from 2025 to 2026, -3.3% from 2026 to 2027, and -3.4% from 2027 to 2028. This trend projects a negative compound annual growth rate over five years.
Future trends to watch for:
- Demand shifts in industries such as automotive and construction that could impact steel consumption.
- Technological advancements that may lead to alternative materials.
- Market adjustments due to environmental regulations and sustainability initiatives.
