The casting of iron market in the UK has seen fluctuations over the past decade. The values declined slightly from 2013 to 2017, with the market experiencing a significant drop in 2017. From 2018 onwards, the market generally trended upwards, except for a sharp decline in 2020 due to global disruptions. Recent years have shown a return to growth, with a value of 608.13 million Euros in 2023. Looking at year-on-year variations, the market rebounded strongly in 2021 and continued to grow albeit at a slower rate into 2023, with a CAGR of 0.16% over the last five years.
For future trends to watch for:
- The forecast indicates steady growth with the market size expected to reach approximately 631.28 million Euros by 2028.
- Annual growth rates are expected to stabilize, resulting in a five-year CAGR of 0.59%.
- Technological advancements and sustainability trends could drive further changes in market dynamics.
- Global economic conditions and supply chain stability will be critical factors for future market performance.