The import value of wire, rod of base metal, carbide for welding to Brazil is set to decline steadily from 2024 to 2028, starting at $21.171 million in 2024 and decreasing to $18.58 million by 2028. In 2023, the import amount stood at approximately $21.858 million. The year-on-year decrease from 2023 to 2024 is expected at roughly -3.14%, with subsequent annual declines of about -3.15% each year. The compound annual growth rate (CAGR) from 2024 through 2028 is projected at approximately -3.17%.
Future trends to watch for include:
- Potential impact of domestic capabilities improving or increasing, reducing the need for imports.
- Fluctuations in global metal prices, which may affect import costs and volume.
- Changes in Brazil’s industrial demand for welding materials, influencing future import levels.
