The forecast for Japan's business enterprise R&D expenditure in the manufacture of basic iron and steel and the casting of iron and steel indicates a steady growth from 2024 to 2028. The expenditure is projected to increase incrementally from 169.16 billion yen in 2024 to 174.08 billion yen in 2028. Compared to 2023, this represents a positive trend with an increase anticipated year-on-year. Over the two-year period from 2024 to 2025, the growth rate in R&D expenditure is expected to increase slightly.

Future trends to watch for:

Adoption of greener technologies and sustainability efforts in response to environmental regulations.
Impact of global economic conditions and trade relations on research investments.
Technological advancements and digital transformation in manufacturing processes.
Demand for innovation in steel product applications across diverse industries.