Forecast: Import of Alloy Steel Pipe or Tubing, Cold Rolled to India

From 2013 to 2023, the import of alloy steel pipe or tubing, cold rolled to India experienced significant fluctuations, starting at 12.378 million kilograms in 2013 and decreasing to 3.7476 million kilograms in 2023. Year-on-year variations indicate alternating periods of steep declines and modest recoveries. For instance, there was a drastic decline of 35.6% in 2015 and a notable increase of 65.75% in 2018. Over the last two years, a slight upward trend was observed in 2021 with a 10.47% increase, followed by year-on-year declines of 8.88% in 2022 and 9.55% in 2023. The CAGR from 2018 to 2023 averaged -10.62%, showing a consistent downward trend.

The forecast data project further declines from 2024, with a forecasted value of 3.3132 million kilograms, down to 1.6811 million kilograms by 2028. The forecasted CAGR over the next five years is estimated at -12.69%, representing a cumulative decline of approximately 49.26%.

Future trends to watch include:

• Potential impacts of global economic conditions on India’s import demand for alloy steel pipe or tubing.
• Shifts in domestic production capabilities and industrial policies affecting import volumes.
• Emerging technological advancements or alternative materials that might disrupt traditional steel usage patterns.