In 2023, the import value of iron or steel cloth, grill, fencing, and expanded metal into the US was $600 million. Forecasts for the period from 2024 to 2028 show a steady increase in import values, reaching $666.44 million by 2028. The year-on-year growth rates reflect an average increase of approximately 2% to 3%. Over the forecasted five-year period, the compound annual growth rate (CAGR) is expected to be around 2.6%, indicating steady demand growth.
Future trends to watch for:
- Potential impacts of US trade policies and tariffs.
- Changes in global supply chains and production costs.
- Technological advancements in the production of steel and iron materials.
- Environmental and sustainability considerations in the steel industry.
