In 2023, the import value of vessels and other floating structures for breaking up to the US stood at approximately 2.28 million US dollars. Forecasts from 2024 to 2028 show a consistent year-on-year increase, with values predicted to reach 2.7464 million US dollars by 2028. The year-on-year growth percentages indicate a steady rise in activity, with an annual compound growth rate (CAGR) expected to remain positive throughout the five-year period.
Future trends to watch include global steel demand fluctuations, environmental regulations impacting ship recycling processes, and advancements in green recycling technology. These factors could significantly influence the import market dynamics in the coming years.
