In 2023, the UK imported coated electrodes of base metal for electric arc-welding at a volume of approximately 1.8 million kilograms. Forecasted data from 2024 to 2028 indicates a declining trend in imports with initial volumes of 1.5306 million kilograms in 2024, dropping to 0.49466 million kilograms by 2028. Year-on-year percentage variation demonstrates a consistent decrease, with a compound annual growth rate (CAGR) showcasing a significant overall reduction in import volume.
Future trends to watch for include:
- Changes in domestic manufacturing capabilities that may further affect import needs.
- Technological advancements in welding processes that could alter the demand for traditional electrodes.
- Economic or regulatory developments post-Brexit impacting trade agreements and import tariffs.