The thick steel plate production in China is projected to grow in volume from 4.08 ten million metric tons in 2024 to 4.62 in 2028. This represents an annual increase ranging approximately from 3.4% to 3.7%. In 2023, the actual production was slightly lower than the 2024 forecast at 3.94 ten million metric tons, indicating a steady upward trend. Over the five years, the compound annual growth rate (CAGR) is expected around 3.2%.
Future trends to watch for include potential impacts of regulatory changes, expansions in infrastructure projects, and shifts in the global steel market, which could influence demand and production capacities.
