The import of wire of silico-manganese steel to Japan was 39.341 million kilograms in 2023. The forecasted data for 2024 onwards shows a steady increase, with values indicating imports of 40.585 million kilograms in 2024, 41.846 million kilograms in 2025, 43.083 million kilograms in 2026, 44.295 million kilograms in 2027, and 45.482 million kilograms in 2028.
The year-on-year variation is as follows:- 2024: 3.2%- 2025: 3.1%- 2026: 2.9%- 2027: 2.8%- 2028: 2.7%
The compound annual growth rate (CAGR) over the five-year forecast period is approximately 3.0%. This indicates a consistent upward trend in the import volume of silico-manganese steel wire to Japan.
Future trends to watch for include potential changes in global trade policies, advancements in alternative materials or technologies that could impact demand, and shifts in the automotive and construction sectors which are primary consumers of this material. Monitoring these factors can provide further insights into the import trends and potential market disruptions or opportunities.