The import of aluminium alloy plate, sheet, and strip to India is forecasted to show a steady increase from 2024 to 2028. Starting from $124.93 million in 2024, it is expected to reach $137.5 million by 2028. Based on this data, the compound annual growth rate (CAGR) over the five-year forecast period is approximately 2.4%.
Year-on-Year Analysis:
- 2024 to 2025: Increase of 2.6%
- 2025 to 2026: Increase of 2.5%
- 2026 to 2027: Increase of 2.4%
- 2027 to 2028: Increase of 2.3%
In 2023, the import value approximated $121.50 million. The forecast reflects a modest yet consistent upward trend, driven by anticipated growth in domestic manufacturing and infrastructure sectors, augmenting demand for aluminium products.
Future Trends to Watch:
- Rising demand from the automotive and construction industries, spurred by economic expansion in India.
- Global supply chain dynamics and trade policies that may impact import levels.
- Technological advancements in recycling that could affect new import demand.
