The forecasted import of hot rolled stainless steel in coils of a width of 600 mm or more and thickness of 4.75-10 mm to India reveals a consistent growth trajectory from 2024 to 2028. Starting at 82.236 million USD in 2024 and climbing to 96.311 million USD by 2028, this reflects a steady compound annual growth rate (CAGR) over the period.
Year-on-year growth highlights:
- 2025: Increase of approximately 4.4% from 2024
- 2026: Increase of approximately 4.1% from 2025
- 2027: Increase of approximately 3.9% from 2026
- 2028: Increase of approximately 3.7% from 2027
In 2023, the imports stood at a lower benchmark, indicating substantial growth heading into 2024 and beyond. The CAGR from 2024 to 2028 rests at an average increment of roughly 4% annually.
Looking ahead, industry stakeholders should monitor technological advancements in production efficiency, potential tariff changes, and shifts in domestic demand due to local infrastructure projects. These factors could influence both the import levels and competitive market dynamics over the forecast period.
