In 2023, the sold production of products of steel powder metallurgy in the UK stood at 6.6523 million euros. The year-on-year variations reveal a decline of 2.69% in 2023 compared to the previous year, marking a consistent downward trend from 2022's 2.67% drop. Over the last five years, the compound annual growth rate (CAGR) has shown a positive average of 2.59%, despite significant annual fluctuations.
Looking forward, the forecasted data from 2024 to 2028 indicates a continual decrease in sold production, with a forecasted average annual decline of 2.47% and an overall decline of 11.74% over the five-year period. This suggests a challenging market environment ahead.
Future trends to watch for include technological advancements in manufacturing processes, potential economic shifts influenced by global trade policies, and market demand for alternative materials or substitutes that might impact the demand for steel powder metallurgy products.