In 2023, the UK imported approximately 3.5 thousand kilograms of converters used in metallurgy or metal foundries. From 2024 to 2028, forecasts indicate a declining trend in imports with significant reductions each year. By 2028, imports are expected to drop to 1.19 thousand kilograms, representing a compound annual growth rate (CAGR) of -20.4% over the five-year forecast period. Year-on-year declines are noticeable, with the largest drop predicted between 2027 and 2028.
Future trends to watch for include:
- Potential shifts in UK domestic production capabilities that could reduce dependency on imports.
- The impact of international trade policies and tariffs on import volumes.
- Technological advancements or industry changes that might alter demand for converters.
