The import of pipe fittings of iron or steel to Thailand stood at 277.45 million USD in 2023. The forecasted values show a stable, incremental growth in imports: 278.14 million USD in 2024, 278.76 million USD in 2025, 279.37 million USD in 2026, 279.97 million USD in 2027, and 280.55 million USD in 2028. Year-on-year variations show a minimal growth rate, maintaining a steady import value increase of approximately 0.22% to 0.23% per year based on the last two years. The compound annual growth rate (CAGR) over the five years is modest, indicating a stable market.
Future trends to watch for include:
- Changes in global steel prices, which could impact import costs.
- Thailand’s infrastructure development projects, potentially increasing demand for pipe fittings.
- Trade policies or tariffs affecting imports from major steel-producing countries.
- Technological advancements in pipe fitting manufacturing that might shift the market dynamics.