Forecast: Sold Production of Iron or Steel Flexible Tubing in the UK

The UK's sold production of iron or steel flexible tubing witnessed significant fluctuations over the past decade, peaking in 2015 at nearly 96 million euros. Post-2015, there was a sharp decline, notably in 2016 with a year-on-year drop of over 42%. The market stabilized somewhat thereafter, albeit with minor year-to-year variations, especially between 2019 and 2023. By 2023, the market stood at just over 57 million euros, reflecting a modest annual growth rate of 0.42% compared to the previous year.

Looking ahead, the forecast up to 2028 suggests a gradual and steady growth at an average annual CAGR of 0.34%, with the market expected to rise by an overall rate of 1.71% over the next five years. Key drivers of this trend may include technological advancements in tubing materials and increased demand across various industrial sectors.

Future trends to watch for:

• Technological innovations in production methods and materials.
• Fluctuations in demand from key industries, such as automotive and construction.
• Economic factors and trade regulations affecting the steel market.