Forecast: Import of Steel Flanges to the UK

In 2023, the actual import of steel flanges to the UK was higher than the 2024 forecast, which indicates a steady downward trajectory for the coming years. The reduction indicates a decrease in demand or possibly improved domestic production capabilities.

The year-on-year percentage variations show a consistent decline in volume: from 2024 to 2025 by approximately 1.75%, from 2025 to 2026 by roughly 1.74%, from 2026 to 2027 by about 1.75%, and from 2027 to 2028 by 1.74%. The Compound Annual Growth Rate (CAGR) over the five-year forecast period is estimated to be around -1.76%.

Future trends to watch for:

• Potential trade policy changes affecting imports.
• Technological advancements in domestic steel production.
• Fluctuations in global raw material prices.