As of 2023, the import of waste and scrap of cast iron to India stood at 28.1 million US dollars. According to forecasts for 2024 through 2028, there is a declining trend in the import values, starting from 27.652 million in 2024 to 25.906 million in 2028. Over the forecasted period, there is a consistent reduction in year-on-year percentage, marking a downward trend with a compound annual growth rate (CAGR) reflecting a gradual decline in the market demand.
Future trends to watch for include:
- Global price fluctuations that might influence import costs.
- Changes in India's domestic production capacity which could reduce dependency on imports.
- Environmental regulations potentially impacting the import volumes due to increased recycling efforts.
