In 2023, the sold production of tube or pipe fittings of cast-iron in the UK amounted to approximately 6.0 million euros. Forecasted data from 2024 to 2028 indicates a consistent decline in value. The year-on-year variations suggest a sharp decrease in demand or supply, with forecasts showing reductions each year: 17% from 2024 to 2025, 20.5% from 2025 to 2026, 25.1% from 2026 to 2027, and 27% from 2027 to 2028. The compound annual growth rate over the five-year period is approximately -22.2%, reflecting a troubling decline in the market.
Future trends to watch include:
- Potential acceleration of moves towards alternative materials replacing cast-iron.
- Impact of technological advancements and regulations influencing production practices.
- Economic factors such as Brexit and global trade dynamics likely affecting demand.