Between 2013 and 2023, the asbestos market size value per capita in China shows a pronounced declining trend, dropping from $0.26 to $0.1. This represents a substantial decrease of approximately 61.5% over a decade. The most significant year-on-year declines were seen between 2013 and 2014, with more moderate fluctuations thereafter. In the last two years, the per capita value decreased by approximately 9.1% from 2021 to 2022 and 8.3% from 2022 to 2023, indicating a continued downward momentum. The compound annual growth rate (CAGR) over the last five years shows an average annual decline of about 5.8%.
Future trends to watch for include:
- Regulatory changes influencing asbestos usage.
- Shifts in industrial demand as environmental awareness increases.
- Technological advancements reducing the need for asbestos in traditional applications.
