In 2023, the import volume of aluminium oxide to Belgium stood at 64.936 million kilograms, reflecting a year-on-year increase of 4.78%. Over the last two years, the imports have shown steady growth, with a combined increase of 9.91%. From 2019 to 2023, the Compound Annual Growth Rate (CAGR) averaged at 1.44%, indicating moderate growth despite yearly fluctuations. Notably, the market experienced significant spikes in 2018 and 2021, which were followed by periods of stabilization.
Looking forward to future trends, Belgium's aluminium oxide imports are forecasted to grow with a CAGR of 3.35% from 2024 to 2028, resulting in a projected total growth rate of 17.93% over this period. Key factors to monitor include global commodity prices, advancements in industrial applications, and international trade policies. Anticipate potential disruptions or accelerations due to technological innovations and environmental regulations impacting both supply chain stability and demand dynamics.
